Ovostar Union Public : 04.08.2022 pdf56.27 kb CR #11 Report on the results of the Annual General Meeting

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Ovostar Union Public Company Limited ("The Company")

reports results of the

Annual General Meeting of Shareholders

Nicosia, 03 August 2022

Ovostar Union Public Company Limited (the "Company") announces the results of the Annual General Meeting of Shareholders ("AGM") held at 1 Lampousas Street, 1095 Nicosia, Cyprus, on 03 August 2022 at 13:00 local time.

Present / represented shares at the meeting
Number shares present / represented at the meeting	5,336,806
Percentage of shares present / represented at the meeting	88.95%

The following resolutions proposed at the AGM were approved by the shareholders present or represented at the AGM.

RESOLUTION 1

To approve the Financial Statements of the Company for the financial year ended on December 31, 2021, and the independent auditors' report of the Company upon those financial statements.

The General Meeting resolved to approve and adopt the Financial Statements and the independent auditors' report thereon

Voting results on Resolution 1

	For	Against	Abstention
Number of votes validly cast	5,336,806	0	0
Percentage of votes validly cast	100.00%	100.00%	100.00%

RESOLUTION 2

To transfer the net profit for the financial year 2021 in the amount of USD 1.655.000,00 (one million six hundred and fifty five thousand USD) to the Company's retained earnings reserve and not to distribute dividends.

The General Meeting resolved To transfer the net profit for the financial year 2021 to the Company's retained earnings reserve and not to distribute dividends.

Voting results on resolution 2

	For	Against	Abstention
Number of votes validly cast	5,336,806	0	0
Percentage of votes validly cast	100.00%	100.00%	100.00%

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RESOLUTION 3

To approve the re-appointment of non-executive director Mr. Karen Arshakyan as non-executive Director of the Company.

The General Meeting resolved to approve the re-appointment of non-executive director Mr. Karen Arshakyan as non-executive Director of the Company.

Voting results on resolution 3

	For	Against	Abstention
Number of votes validly cast	4,620,860	0	715,946
Percentage of votes validly cast	86.58%	100.00%	13.42%

RESOLUTION 4

To fix the aggregate remuneration payable to the directors of the Company during the year ending on December 31, 2022 in the amount not exceeding EUR 500.000,00 (five hundred thousand).

The General Meeting resolved to fix the aggregate remuneration payable to the directors of the Company during the year ending on December 31, 2022 in the amount not exceeding EUR 500.000,00 (five hundred thousand).

Voting results on resolution 4

	For	Against	Abstention
Number of votes validly cast	5,336,806	0	0
Percentage of votes validly cast	100.00%	100.00%	100.00%

RESOLUTION 5

To grant discharge to all directors of the Company from all acts of management and any liability with respect thereto during the financial year ended on December 31, 2021.

The General Meeting resolved to grant discharge to all directors of the Company from all acts of management and any liability with respect thereto during the financial year ended on December 31, 2021.

Voting results on resolution 5

	For	Against	Abstention
Number of votes validly cast	5,336,806	0	0
Percentage of votes validly cast	100.00%	100.00%	100.00%

RESOLUTION 6

To authorize the Board of Directors to hold a tender for the selection and appointment of the independent auditors of the Company for the Financial Year 2022 and to determine their remuneration for the year 2022.

The General Meeting resolved to authorize the Board of Directors to hold a tender for the selection and appointment of the independent auditors of the Company for the Financial Year 2022 and to determine their remuneration for the year 2022.

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Voting results on resolution 6

	For	Against	Abstention
Number of votes validly cast	5,336,806	0	0
Percentage of votes validly cast	100.00%	100.00%	100.00%

All resolutions come in force at the day of their adoption.

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Mr Vitalii Veresenko, Chairman of the Meeting