Crown Energy AB

Regulatory Filings • Aug 5, 2024

Announcement from Crown Energy's continued Annual General Meeting and Extraordinary General Meeting

Continued Annual General Meeting

The continued Annual General Meeting of Crown Energy AB (publ) ("Crown Energy" or the "Company") was held today on 5 August 2024 and the following main resolutions were passed by the meeting.

The continued Annual General Meeting resolved to adopt the income statement and the balance sheet of the Company and the consolidated income statement and the consolidated balance sheet for year 2023. Further, the meeting resolved to approve the allocation of profit in accordance with the proposal of the Board of Directors.

A majority voted in favor of discharging most of the board members from liability, while a minority, holding more than ten percent of the shares in the Company, voted against. Out of the shareholders eligible to vote in the question, two shareholders representing a majority of the eligible shares voted against discharge from liability regarding the board member and CEO Yoav Ben-Eli.

Extraordinary General Meeting

Following the continued Annual General Meeting today on 5 August 2024 an Extraordinary General Meeting was held and the following main resolutions were passed by that meeting.

In addition to the board members that were elected during the Annual General Meeting that was held on 10 June 2024 a proposal was presented for the Extraordinary General Meeting to elect Fanny Wallér as a new member of the Board of Directors. A minority shareholder presented a counterproposal to instead elect Benoit Coquelet.

The Extraordinary General Meeting resolved to elect Fanny Wallér for the period up until the next Annual General Meeting.

Shareholders representing just over a tenth of both the votes cast and the shares represented at the meeting voted against the board's proposal for a decision on the transfer of shares and the issuance of shares in the subsidiary SmarTee S.a.r.l. Since a valid decision in accordance with the board's proposal required approval of at least nine-tenths of both the votes cast and the shares represented at the meeting, the proposal was therefore not passed.

Shareholders representing just over a tenth of both the votes cast and the shares represented at the meeting voted against the board's proposal for a decision on an LTIP program in SmarTee

PRESS RELEASE 05 August 2024 17:20:00 CEST

including a new issuance of shares in SmarTee to key personnel. Since a valid decision in accordance with the board's proposal required approval of at least nine-tenths of both the votes cast and the shares represented at the meeting, the proposal was therefore not passed.

Contacts

Please contact Yoav Ben Eli, CEO, Crown Energy AB +46 8 400 207 20 +46 76-312 97 93

About Crown Energy

Crown Energy is transforming into a new and more socially responsible business direction, with focus on the medical technology industry and on improving the green footprint by way of investing in companies active in those areas.

The investment into the Healthtech company AccYouRate marked the start of the new Crown Energy in early 2023. AccYouRate holds high-tech patents and creates algorithms to support production of 'smart' wearable garments for use in the medical industry as well as services such as analysis, data gathering and extrapolations of medical information and growth of medical databases.

Crown has in early 2024 entered a strategic partnership with KAYA Climate Solutions GmbH, a project developer in nature-based solutions for climate change mitigation in Sub-Saharan Africa. This collaboration aims to be a starting point for large impact in climate change mitigation and adaptation through landscape restoration and nature conservation which will be financed by the voluntary carbon market and similar mechanisms.

The business area Asset Development and Management based in Angola is providing international companies Real estate and services. Crown Energy has been active in the oil and gas business for more than 10 years. Today the only remaining asset in the energy field is a passive holding of energy reserves which following the signing of a sale and purchase agreement is being divested. Crown has withdrawn from and/or written down its other earlier Licence holdings.

Attachments

Announcement from Crown Energy's continued Annual General Meeting and Extraordinary General Meeting