AGM Information • Aug 17, 2022
AGM Information
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of Astrocast SA (the Company)
to be held on September 8, 2022, at 10:30 am (CEST)
at Python Avocats, avenue C.F. Ramuz 80, 1009 Pully, Switzerland (access limited)
This notice follows the communication to the shareholders published by the Company on June 24, 2022. This is an amendment to the notice published on June 7, 2022.
Based on Article 27 para. 1 letter b of the Ordinance 3 on Measures to fight Coronavirus (COVID-19) of 19 June 2020, and in accordance with Article 17 of the Company's articles of association (Articles of Association), the Board of Directors has decided that the shareholders will be able to exercise their rights at the general meeting(s) exclusively by sending voting instructions to the independent proxy, Mr. Matthieu Sinner, notary in Lausanne, Switzerland (the Independent Proxy). Shareholders will not be granted access to the meeting room on the day of the meeting.
The Company contemplates to carry out an international placement of shares (the Offering) in view of its admission to trading on Euronext Growth Paris (the Admission). The Admission would be in addition to the current listing of ESO shares (formerly designated as VPS shares) on Euronext Growth in Oslo.
The Board of Directors may adjust or withdraw the following proposals to facilitate the Offering and the Admission and to take into account comments of the Vaud commercial register, Euronext Growth Oslo, Euronext Growth Paris, the Autorité des Marchés Financiers, Euroclear France, and/or the banks syndicate advising the Company in connection with the Offering and the Admission.
For purposes of the Offering and the Admission, the Board of Directors proposes to resolve on an ordinary capital increase on the following conditions:
| Maximum number, nominal value and type of shares and the preferential rights attaching to specific share classes |
The share capital will be increased by a maximum amount of CHF 435 700.00, divided by a maximum number of 43 570 000 ordinary registered shares, with a nominal value of CHF 0.01 each, to be fully paid up. |
|---|---|
| Issue price and date on which the dividend entitlement commences |
The issue price per share will be determined by the Board of Directors. The new shares will benefit of the dividend (if any) for the |
| business year 2022. | |
| Type of capital contributions to be made (cash, offset of claims, etc.) |
The new shares will be paid in cash and, with respect to debt instrument converting into new shares (if any) by offset of claims. |
| Acquisition (or contemplated acquisition) of assets |
None. |
| Special advantage | No specific advantage will be granted in relation to the new shares. |
| Cancellation or limitation of the preferred subscription rights and non-exercised or excluded preferred subscription rights |
The preferred subscription rights of the shareholders will, to the extent not waived, be cancelled for valid reason in accordance with art. 652b CO, i.e. for purposes of (i) placing new shares at the Offering at the price that will result from the bookbuilding, (ii) the expansion of the shareholders' base and/or (iii) a quick and flexible procurement of capital that could not be procured if the preferred subscription rights of the current shareholders had not been cancelled or limited. |
| All or part of the new shares will be issued at par value and issued by the banks syndicate or any of its member(s) advising the Company with respect to the Offering and the |
| Admission, acting as underwriter(s) pursuant to an |
|---|
| underwriting agreement. |
| The new shares subscribed by the banks syndicate will |
| then be placed in the Offering at the conditions of the |
| Offering approved by the Board of Directors. The eligibility |
| criteria and the allocation of the new shares placed at the |
| Offering will be determined by the Board of Directors. |
The Board of Directors proposes to (i) increase the authorized capital in an amount of CHF 81 067.04 from CHF 117 237.50 to CHF 198 304.54, (ii) extend its term, (iii) amend the conditions on which the Board of Directors may cancel or limit the preferred subscription rights and accordingly (iv) adopt a new article 5bis as follows:
Version telle que proposée par le conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique):
Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Le conseil d'administration est autorisé à augmenter le capital-actions comme suit:
The board of directors is authorized to increase the share capital as follows:
| Jusqu'au until | 12.5.2023 8.9.2024 |
|---|---|
| Montant maximum Maximum amount | CHF 117 237.50 198 304.54 |
| divisé en maximum divided into a maximum of |
11 723 75019 830 454 actions nominatives à libérer entièrement │ registered shares to be fully paid-up. |
| valeur nominale de chaque action nominal value of each share |
CHF 0.01 par action │ per share |
Une augmentation du capital-actions en plusieurs tranches est autorisée.
Le conseil d'administration fixe la date d'émission des actions nouvelles, leur prix d'émission, la manière de les libérer, ainsi que les conditions d'exercice du droit préférentiel de souscription et l'époque à compter de laquelle les actions nouvelles donneront droit au dividende. Le conseil An increase of the share capital in partial amounts shall be permitted.
The board of directors sets the date of the issuance of new shares, the issue price, the type of payment, the conditions for the exercise of the preferred subscription rights and the beginning date for dividend entitlement. The board of directors may permit preferred subscription rights that have
d'administration peut laisser se périmer les droits de souscription préférentiels qui n'ont pas été exercés; il peut également vendre aux conditions du marché ces droits et/ou les actions liées aux droits de souscription préférentiels accordés mais non exercés, ou les utiliser dans un autre but conforme à l'intérêt de la Société.
Le conseil d'administration peut limiter ou supprimer les droits de souscription préférentiel des actionnaires: (i) pour l'octroi aux banques impliquées dans le placement d'actions d'une option de surallocation (greenshoe), (ii) pour l'acquisition d'entreprises, de parties d'entreprises ou de participations ou pour réaliser de nouveaux investissements ou (iii) pour le placement d'actions nouvelles sur les marchés internationaux des capitaux par voie d'offre au public ou de placement privé auprès de clients professionnels au prix qui résultera de la construction du livre d'ordre (bookbuilding) ou (iv) dans le but d'intéresser au capital un ou plusieurs partenaires stratégiques ou d'étendre le cercle de l'actionnariat dans certains marchés financiers ou (v) dans le but d'intéresser les employés, les administrateurs ou les consultants de la Société ou de ses filiales conformément au(x) plan(s) d'intéressement adopté(s) par le conseil d'administration ou (vi) dans le but de lever des capitaux de façon rapide et flexible, dans le cas où cela ne pourrait pas être réalisé sans exclure les droits de souscription préférentiels légaux des actionnaires actuels.
Les droits de souscription préférentiel des actionnaires sont supprimés, jusqu'à un maximum de 7 500 000 nouvelles actions à émettre sur la base de ce capital-actions autorisé, dans le not been exercised to expire or it may place these rights and/or shares as to which preferred subscription rights have been granted but not exercised, at market conditions or use them for other purposes in the interest of the Company.
The board of directors is authorized to restrict or exclude the preferred subscription rights of shareholders and allocate such rights to third parties if the shares are to be used (i) for granting to the bank(s) implied in a placement of shares of an overallotment option (greenshoe), or (ii) for the acquisition of enterprises, parts of an enterprise, or participations or for making new investments; or (iii) for placing new shares on international capital markets through public offering or private placement with professional clients at the price that will result from the bookbuilding; or (iv) for the purpose of the participation of strategic partners or for expanding the shareholder base in certain capital markets, or (v) for the participation of employees, directors or consultants of the Company or its subsidiaries in accordance with incentive plan(s) set up by the board of directors; or (vi) or for the purpose of a quick and flexible procurement of equity capital that could not be procured if the preferred subscription rights of the current shareholders had not been cancelled.
The preferred subscription rights of the shareholders are cancelled, up to a maximum of 7 500 000 shares to be issued on the basis of this authorized share capital, for the purpose of issuing new
but d'émettre des actions aux actionnaires d'Hiber B.V., ayant son siège à Amsterdam (Pays-Bas), dans le cadre de la quasi-fusion d'Astrocast SA et de Hiber B.V. réalisée par le biais d'un échange des actions d'Hiber contre des actions d'Astrocast. Le conseil d'administration peut supprimer ou restreindre les droits de souscription préférentiels des actionnaires pour le même motif dans la mesure où le nombre d'actions à émettre aux actionnaires d'Hiber B.V. excède 7 500 000 actions.
shares to the shareholders of Hiber B.V., with registered office in Amsterdam (Netherlands) pursuant to the quasimerger of Astrocast SA and Hiber B.V. by means of an exchange of Hiber shares against Astrocast shares. The board of directors may cancel or restrict the preferred subscription rights of the shareholders for the same reason to the extent that the number of shares to be issued to the shareholders of Hiber B.V. exceeds 7 500 000 shares.
The increase of the authorized capital is justified (i) to allow the extension of the Offering and/or the exercise of an overallotment option (greenshoe) in the context of the Admission and (ii) to give the Board of Directors sufficiently flexibility to issue new shares, notably in view of future capital raise, acquisitions of enterprises and/or the participation of strategic partners, for expanding the shareholders base in certain markets and for the participation of employees, directors or consultants of the Company or its subsidiaries.
The Company and Hiber B.V., a Dutch company having its registered office in Moermanskkade 600, 1013 BC Amsterdam, The Netherlands, have agreed to carry out a quasi-merger in order to notably enhanced their commercial activities and foster satellite IoT adoption. In this respect, it is planned that Astrocast SA will take over all of the shares in Hiber B.V. in exchange of new shares to be issued by Astrocast SA. As the case may be, the new shares of Astrocast SA will be issued on the basis of the authorized capital and the preferred subscription rights will be cancelled to the extent necessary.
The reference to the restrictions provided in art. 7 results from the amendments proposed in agenda item n°2.4 below.
The Board of Directors proposes to increase the conditional capital in an amount of CHF 38 475 from CHF 15 525 to CHF 54 000 and to amend article 5ter accordingly as follows:
Version telle que proposée par le conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique):
Article 5ter – Capital-actions conditionnel (droits d'option)
Le capital-actions peut être augmenté comme suit :
Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Article 5ter – Conditional share capital (option rights)
The share capital may be increased as follows:
| Montant maximum Maximum amount | CHF 15 52554 000 |
|---|---|
| divisé en maximum divided into a maximum of |
1 552 500 5 400 000 actions nominatives │ registered shares |
| valeur nominale de chaque action nominal value of each share |
CHF 0.01 par action │ per share |
à libérer entièrement par l'exercice de droits d'option attribués aux employés, administrateurs, directeurs, membres du conseil consultatif et/ou, consultants de la Société et/ou de sociétés du groupe, conformément au(x) plan(s) d'intéressement établi(s) par le conseil d'administration.
Le droit de souscription préférentiel des actionnaires est exclu.
L'acquisition d'actions nominatives par l'exercice des droits d'option et le transfert subséquent des actions nominatives sont soumis aux restrictions prévues à l'article 7 des présents Statuts.
to be fully paid in, by the exercise of option rights granted to employees, directors, managers, members of the advisory board and/or consultants of the Company and/or of group companies, in accordance with one or several incentive plan(s) set up by the board of directors.
The preferred subscription rights of the shareholders are cancelled.
The acquisition of registered shares through the exercise of option rights and the subsequent transfer of the registered shares shall be subject to the restrictions provided in article 7 of the Articles of Association.
The increase of the conditional capital aims at allowing the grant of additional options to existing and new Board members, employees and consultants of the Company and its subsidiary(ies) and is in line with the planned development of the Company.
The reference to the restrictions provided in art. 7 results from the amendments proposed in agenda item n° 2.4 below.
The Board of Directors proposes to increase the conditional capital (loans with conversion or option rights and other financial instrument) in an amount of CHF 42 592.04 from CHF 101 712.50 to CHF 144 304.54 and to amend article 5quater accordingly as follows:
Version telle que proposée par le conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique):
Article 5quater – Capital-actions conditionnel (prêts convertibles ou à options et autres instruments financiers)
Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Article 5quater – Conditional share capital (loans with conversion or option rights and other financial instruments)
Le capital-actions peut être augmenté comme suit :
The share capital may be increased as follows:
| Montant maximum Maximum amount | CHF 101 712.50 144 304.54 |
|---|---|
| divisé en maximum divided into a maximum of |
10 171 250 14 430 454 actions nominatives │ registered shares |
| valeur nominale de chaque action nominal value of each share |
CHF 0.01 par action │ per share |
à libérer entièrement par l'exercice de droits d'option et/ou de conversion attribués aux actionnaires de la Société et/ou en relation avec l'émission par la Société ou par une société du groupe d'obligations ou de tout autre instrument financier. En cas de telles attributions de droits d'option et/ou de conversion, les droits de souscriptions préférentiels des actionnaires sont exclus. Les détenteurs de droits d'options et/ou de conversion ont un droit de recevoir les nouvelles actions. Le conseil d'administration détermine les termes des droits d'option et/ou de conversion.
Le conseil d'administration peut limiter ou supprimer les droits de souscription préalables (Vorwegszeichnungsrechte) (i) si une obligation ou tout autre instrument financier et/ou des droits de conversion ou des warrants sont émis dans le but de financer ou refinancer l'acquisition d'entreprises, de parties d'entreprises, ou de participations, ou de réaliser de nouveaux investissements, ou (ii) si une obligation ou tout autre instrument financier et/ou des droits de conversion ou des warrants sont offerts sur les marché des capitaux nationaux ou internationaux avec une souscription ferme par une institution bancaire ou un consortium bancaire comprenant une offre subséquente au public ou (iii) si une obligation ou tout autre instrument financier et/ou des droits de conversion ou des warrants sont offerts afin de lever des capitaux de façon rapide et flexible, dans les cas où cela ne pourrait être réalisé sans exclure les droits de souscriptions préalables des actionnaires. Si les droits de souscription préalables sont to be fully paid in, by the exercise of option and/or conversion rights which are granted to the shareholders of the Company and/or in connection with the issue of bonds or other financial instruments by the Company or another group company. In the case of the issue of bonds, similar obligations or other financial instruments linked with option and/or conversion rights, the preferred subscription right of shareholders is excluded. The holders of option and/or conversion rights are entitled to receive the new shares. The board of directors shall determine the terms of the option and/or conversion rights.
The board of directors shall be authorized to restrict or exclude the prior subscription rights of shareholders (droit de souscription préalables; Vorwegszeichnungsrechte) (i) if the debt or other financial instruments issued with conversion rights or warrants are for the purpose of financing or refinancing of the acquisition of enterprises, parts of an enterprise, or participations or new investments or (ii) if such debt or other financial instruments are issued on the national or international capital markets and for the purpose of a firm underwriting by a banking institution or a consortium of banks with subsequent offering to the public or (iii) if such debt or other financial instrument and/or conversion rights or warrants are issued for raising capital in a fast and flexible manner, which would not be achieved without the exclusion of the prior subscription rights of the existing shareholders. If the prior subscription rights are excluded by the board of directors, the following shall apply: the issuance of convertible bonds or warrants or other financial market instruments shall be made at
limités ou supprimés, les règles suivantes s'appliquent: l'émission d'obligations convertibles ou de warrants ou de tout autre instrument financier doit être réalisée aux conditions du marché (y compris les règles de protection contre la dilution applicables en fonction de la pratique du marché) et les nouvelles actions doivent être émises en application des droits de conversion ou d'exercice prévus à l'émission de l'obligation ou du warrant en cause. Les droits de conversion et les warrants peuvent être exercés pendant 10 ans au plus à compte de leur date d'émission.
the prevailing market conditions (including dilution protection provisions in accordance with market practice) and the new shares shall be issued pursuant to the relevant conversion or exercise rights in connection with bond or warrant issue conditions. Conversion rights and warrants may be exercised during a maximum 10-year period from the date of the issuance.
L'acquisition d'actions nominatives par l'exercice des droits d'option et/ou de conversion et le transfert subséquent des actions nominatives sont soumis aux restrictions prévues à l'article 7 des présents Statuts.
The acquisition of registered shares through the exercise of option or conversion rights and the subsequent transfer of the registered shares shall be subject to the restrictions provided in article 7 of the Articles of Association.
Note:
The increase of the conditional capital (debt) aims at facilitating the raise of debt financing by allowing the Company to grant options or conversion rights backed by conditional capital.
The reference to the restrictions provided in art. 7 results from the amendments proposed in agenda item n° 2.4 below.
The Board of Directors proposes to amend article 7 of the Articles of Association as follows:
Version telle que proposée par le conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique):
Article 7 – Registre des actions; Mandataires (…)
Les acquéreurs d'actions nominatives sont, sur demande, inscrits comme actionnaires avec droit de vote, sous réserve de respecter les conditions ci-dessous.
Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Article 7 – Share register; Nominees
(…)
Acquirers of registered shares shall upon application be registered as shareholders with the right to vote, provided that they comply with the following conditions.
Les personnes qui ne déclarent pas expressément dans leur demande d'inscription qu'elles détiennent les actions pour leur propre compte (les Mandataires), sont inscrites au registre des actions en tant qu'actionnaires avec droit de vote sans autre formalité jusqu'à un maximum de 5% du capital-actions existant tel qu'inscrit au registre du commerce. Au-delà de cette limite, les actions nominatives ne seront enregistrées avec droit de vote que si l'acquéreur des actions déclare expressément avoir acquis les actions en son propre nom et pour son propre compte ou, s'il s'agit d'un Mandataire, si (i) le Mandataire concerné révèle les noms, adresses et participations des personnes pour le compte desquelles il détient 1% ou plus du capital-actions existant tel qu'inscrit au registre du commerce, et (ii) si ce Mandataire est soumis à la surveillance d'une autorité de surveillance bancaire ou de marché des capitaux reconnue. Le conseil d'administration est habilité à conclure des accords avec les Mandataires concernant leurs obligations d'information.
Le conseil d'administration précisera le détail des réglementations ci-dessus et publiera les instructions nécessaires pour qu'elles soient respectées. Il peut, dans certains cas, accorder des exemptions à la règle concernant les Mandataires. Le conseil d'administration peut déléguer ses obligations.
Les entités juridiques, les sociétés simples ou les autres groupes de personnes ou les propriétaires en commun, qui sont liés entre eux par une participation au capital, des droits de vote, une gestion uniforme ou de toute autre manière, ainsi que les personnes physiques ou morales qui agissent de concert afin de contourner les règles concernant les Mandataires (en particulier les syndicats) sont traités Persons failing to expressly declare in their registration applications that they hold the shares for their own account (the Nominees), shall be entered in the share register as shareholders with voting rights without further inquiry up to a maximum of 5% of the outstanding share capital as set forth in the commercial register. Above this limit, registered shares shall only be registered with voting rights if the acquirer of shares expressly states to have acquired the shares in its name and on its own behalf or, if the acquirer is a Nominee, if (i) the relevant Nominee discloses the names, addresses and shareholdings of those persons on whose account it holds 1% or more of the outstanding share capital as set forth in the commercial register, and (ii) such Nominee is subject to a recognized bank or financial market supervision. The board of directors is authorized to enter into agreements with Nominees concerning their disclosure requirements.
The board of directors shall regulate the details and issue the instructions necessary for compliance with the preceding provisions. In special cases, it may grant exemptions from the rule concerning Nominees. The board of directors may delegate its duties.
Legal entities and partnership, or other groups of persons or joint owners who are interrelated through capital ownership, voting rights, common management or are otherwise linked, as well as physical persons and legal entities and partnerships who act in concert (especially as a syndicate) to circumvent the regulations concerning the limitation of participation or representation by Nominees will be treated as one Nominee.
comme un seul et unique Mandataire au sens du présent article.
Le conseil d'administration peut annuler l'inscription d'un actionnaire comme actionnaire avec droit de vote au registre des actions, avec effet rétroactif à la date d'inscription, si cette inscription a été faite sur la base d'informations incorrectes fournies par le Mandataire pour la portion qu'il détient supérieure à 5% du capital-actions existant tel qu'inscrit au registre du commerce. Le Mandataire concerné sera immédiatement informé de son inscription en tant qu'actionnaire sans droit de vote au registre des actions pour les actions nominatives qu'il détient audelà du seuil mentionné ci-avant.
Les restrictions à l'inscription en tant qu'actionnaire avec droit de vote dans le registre des actions prévues au présent article sont également applicables aux actions acquises ou souscrites par l'exercice de droits de souscription, d'option ou de conversion.
Le conseil d'administration peut déléguer la tenue du registre des actions, en tout ou en partie, à un ou des tiers. En particulier, le conseil d'administration peut reconnaître comme sous-registres (i) le registre tenu par DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, 0191 Oslo, Norway, pour le compte du dépositaire central norvégien (Verdipapirsentralen ASA ou le VPS), conformément au droit norvégien (le Registre VPS) en ce qui concerne les actions admises au négoce sur Euronext Growth Oslo et (ii) tout autre sousregistre concernant les actions admises au négoce sur Euronext Growth Paris ou toute autre bourse ou système multilatéral de négociation. Les actionnaires inscrits dans ces sousregistres sont reconnus comme actionnaire avec droit de vote aux The board of directors may cancel the registration of a shareholder as shareholder with voting right in the share register, with retroactive effect as of the date of registration, if such registration was made based on incorrect information supplied by the Nominee, provided that such cancellation can only pertain to the part of the shares held by such Nominee which is in excess of 5% of the outstanding share capital as set forth in the commercial register. The relevant Nominee shall be immediately informed of its registration as shareholder without voting right in the share register with respect to the shares exceeding the above-mentioned threshold.
The limitation for registration in the share register as shareholder with voting right provided in this article shall also apply to shares acquired or subscribed by the exercise of subscription, option or conversion rights.
The board of directors may delegate the holding of the share register, in whole or in part, to a third party or third parties. In particular, the board of directors may recognize as sub-registers (i) the register kept by DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, 0191 Oslo, Norway, on behalf of the Norwegian central securities depositary (Verdipapirsentralen ASA or the VPS) in accordance with Norwegian law (the VPS Register) with respect to shares admitted to trading on Euronext Growth Oslo and (ii) any other sub-registers in relation to shares admitted to trading on Euronext Growth Paris or any other stock exchange or multilateral trading facility. Shareholders registered in these subregisters are recognized as shareholders with voting rights on the same conditions as those applicable to shareholders registered in the main share register.
mêmes conditions que celles applicables aux actionnaires inscrits dans le registre d'actions principal.
Nonobstant ce qui précède, les acquéreurs d'actions nominatives peuvent être inscrits dans le registre des actions géré par le dépositaire central norvégien (Verdipapirsentralen ASA ou le VPS) et tenu par DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, 0191 Oslo, Norway, conformément au droit norvégien (le Registre VPS). Les acquéreurs d'actions nominatives inscrits au Registre VPS sont réputés actionnaires avec droit de vote, dès leur inscription.
Si les actions ne sont plus cotées sur Euronext Growth Oslo ou toute autre plateforme de négociation gérée par Euronext Oslo Stock Exchange, le conseil d'administration peut décider que les actions ne peuvent plus être enregistrées au Registre VPS.
Notwithstanding the foregoing, acquirers of shares may be entered in the share register with the Norwegian central securities depository (Verdipapirsentralen ASA or the VPS), which is kept by DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30, 0191 Oslo, Norway, in accordance with Norwegian law (the VPS Register). Acquirers of registered shares recorded in the VPS Register are considered as shareholders with voting right as soon as they are recorded with the VPS Register.
If the shares cease to be listed on Euronext Growth Oslo or any other trading venue by the Euronext Oslo Stock Exchange, the board of directors may determine that the shares shall no longer be registered with the VPS Register.
The Board of Directors proposes to adopt a so-called "anti-fiduciary" clause whereby the entry of a shareholder with voting right in the share register would be subject to a declaration that such shareholder has acquired the shares in its own name and for its own account (and not on a fiduciary capacity). Exceptions would be provided in favour of (i) nominees holding less than 5% of the outstanding share capital and (ii) nominees holding more than 5% of the outstanding share capital provided in that case that (i) the nominee informs the Company of the beneficial owner(s) for whom it owns more than 1% of the outstanding share capital and (ii) is subject to a recognized bank or financial market supervision.
Furthermore, the Board of Directors proposes to amend article 7 of the Articles of Association to enable it to delegate the holding of the share register by third parties. This concerns in particular shares admitted to trading on Euronext Growth Oslo and, possibly, Euronext Growth Paris.
The Board of Directors proposes to amend the following articles of the Articles of Association as follows:
Version telle que proposée par le conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique):
Article 13bis – Lieu de l'assemblée générale et recours aux médias électroniques
Dès l'entrée en vigueur du nouveau droit de la société anonyme du 19 juin 2020, soit dès le 1er janvier 2023, la disposition suivante s'applique également:
"Le conseil d'administration décide du lieu où se tient l'assemblée générale.
L'assemblée peut se tenir simultanément en plusieurs lieux. En pareil cas, les interventions sont retransmises en direct par des moyens audiovisuels sur tous les sites de réunion.
L'assemblée peut se tenir à l'étranger. Dans ce cas, la convocation indique que les actionnaires peuvent exercer leurs droits au travers du représentant indépendant élu ou désigné conformément à l'article 17 des présents Statuts.
Le conseil d'administration peut autoriser les actionnaires qui ne sont pas présents au lieu où se tient l'assemblée générale à exercer leurs droits par voie électronique.
L'assemblée peut également se tenir sous forme électronique et sans lieu de réunion physique (assemblée virtuelle). Dans ce cas, la convocation indique que les actionnaires peuvent exercer leurs droits au travers du représentant indépendant élu ou désigné conformément à l'article 17 des présents Statuts."
Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Article 13bis – Location of the general meeting and use of electronic media
From the entry into force of the new law on company limited by shares of June 19, 2020, i.e. as from January 1, 2023, the following provision also applies:
"The board of directors decides of the place where the general meeting is held.
The general meeting can be held simultaneously in several locations. In such case, the interventions must be broadcasted live by audiovisual means on all meeting sites.
The general meeting may be held abroad. In such case, the invitation shall mention that the shareholders may exercise their rights through the independent proxy, elected or designated in accordance with article 17 of these Articles of Association.
The board of directors may allow shareholders who are not present at the location where the general meeting is held to exercise their rights electronically.
The meeting may also be held in electronic form and without a physical meeting (virtual meeting). In such case, the invitation shall mention that the shareholders may exercise their rights through the independent proxy, elected or designated in accordance with article 17 of these Articles of Association."
The new article 13bis will enter into force as the same time as the new law on Swiss companies limited by shares (révision du droit de la société anonyme / Revision des Aktienrechts), i.e. on January 1, 2023. This new article has been added to allow inter alia the holding of the general meeting in several locations and virtual meetings (cf. art. 701a to 701d new CO).
Chaque action inscrite en tant qu'action avec droit de vote dans le registre des actionnaires confère une voix à l'actionnaire inscrit.
Article 46 – Communications
(….)
Les communications de la Société aux actionnaires peuvent également être faites par écrit (lettre) ou par voie électronique (téléfax ou e-mail). En cas de communications écrites, celles-ci seront valablement envoyées par courrier ordinaire à la dernière adresse de l'actionnaire ou de son représentant qui figure sur le registre des actions. En cas de communications par voie électronique, celles-ci seront envoyées à l'adresse utilisée par l'actionnaire pour ses communications avec la Société.
Article 16 – Voting rights, proxies
Each share recorded as share with voting rights in the share register confers one vote on its registered holder.
IX. COMMUNICATIONS
Article 46 – Communications
(…)
Communications from the Company to shareholders may also be made in writing (letter) or by electronic means (fax or email). In case of written communications by the Company to its shareholders, such shall, these will be validly sent by ordinary mail to the last address of the shareholder entered or of his representative that appears in the share registerof the Company. In the event of electronic communications, these will be sent to the address used by the shareholder for communications with the Company.
Questions of the shareholders will be answered.
[General information on the following pages]
Astrocast SA is a Swiss company limited by shares (société anonyme; Aktiengesellschaft). At the time of this notice, the Company's share capital amounts to CHF 396,609.08 divided into 39,660.908 ordinary registered shares of a nominal value of CHF 0.01 each. Each share entitles its holder to one vote at the general meeting. The Company holds 2,038,434 treasury shares.
The shareholders have inter alia the following rights in respect of a general meeting:
The notice of the general meeting, including the agenda and the proposals of the Board of Directors, has been published in the Swiss Official Gazette of Commerce.
Shareholders registered with voting rights in the share register as of the close of business on August 25, 2022 (the Record Date) will be authorized to participate and vote at the general meeting. From the day following the Record Date until the date of the general meeting no registrations will be entered in the share register.
In accordance with art. 27 of the COVID-19 Ordinance 3, the Board of Directors has decided that shareholders cannot physically attend the general meeting. Shareholders may exercise their shareholders rights only through the Independent Proxy. Power of attorney must be granted by signing the Power of Attorney Form, which will be sent to all shareholders registered in the Company's share register as of the Record Date.
If a registered shareholder wishes to exercise its shareholders' rights using the Power of Attorney Form, it must send it duly signed to the following address or email address as soon as possible, but by no later than September 6, 2022 (date of receipt) at 6:00 pm (CEST):
Mr. Matthieu Sinner Avenue du Théâtre 7 CH-1005 Lausanne e-mail: [email protected]
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Any Power of Attorney Form or any change in voting instructions received by the Independent Proxy after September 6, 2022 at 6:00 pm (CEST) will not be processed.
Shareholders who sell their shares before the general meeting will no longer be entitled to attend or exercise any voting rights at the general meeting linked to such sold shares, and previously issued Power of Attorneys will become invalid automatically.
Please note that, in the absence of specific voting instructions on the Power of Attorney Form, general authorization is granted to the Independent Proxy to vote in favour of the proposals of the Board of Directors. This rule will also apply to items that are not included in this notice but that may be submitted at the general meeting. To the extent the voting instructions are not clear, the shares will be deemed non-represented.
The investors who hold Norwegian securities representing the beneficial interests in the Company's shares which are admitted to trading on Euronext Growth Oslo (the ESO Shares, formerly designated VPS Shares) are as a rule not recorded as shareholders in the Company's share register and may only vote at the general meeting through DNB Bank ASA, Oslo, Norway, or its custodian bank. The holders of ESO Shares (i.e. direct shareholders and/or nominees) recorded as at the date of this notice in the ESO register will be contacted directly by DNB Bank ASA, Registrars Department. Investors holding ESO Shares through nominees must inform and instruct their nominees in order to ensure that they receive the communication from DNB Bank ASA and are able to provide their voting instructions to DNB Bank ASA in time. Any persons acquiring new ESO Shares between the date of this notice and the Record Date must directly contact DNB Bank ASA. DNB Bank ASA will provide to the holders of ESO Shares the form of voting instructions to be used for the general meeting. The Power of Attorney will have to be received by DNB Bank ASA or the custodian bank designated by DNB Bank ASA by no later than September 1, 2022 at 6:00pm (CEST). Any voting instructions form or any change in voting instructions received by DNB Bank ASA (or the designated custodian bank) after that deadline, will not be processed. Further details on the process will be provided directly by DNB Bank ASA to the concerned holders of ESO Shares.
The investors registered through SIX SIS Nominee System will not receive any communication from SIX SIS AG nor from DNB Bank ASA relating to the EGM. The Company will send a copy of the notice and the voting instructions to those investors at the addresses registered in the share register.
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Chavannes-près-Renens, August 18, 2022
Astrocast SA On behalf of the Board of Directors
José Achache, Chairman
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