Announcement from Crown Energy AB’s annual general meeting
The annual general meeting (“AGM”) of Crown Energy AB (publ) (“Crown Energy” or the “Company”) was held today on 12 May 2017 and the following resolutions were passed by the meeting.
Adoption of the income statement and the balance sheet
The AGM resolved to adopt the income statement and the balance sheet in the Company and the consolidated income statement and the consolidated balance sheet.
Allocation of profit
The AGM resolved that no dividend would be paid to the shareholders and that the previously accrued profits, including the share premium account and year result, in total SEK 197,852,995, would be carried forward.
Discharge from liability
The board of directors and the CEO were discharged from liability for the financial year 2016.
Election of the board of directors, auditor and remuneration
The AGM resolved that the board of directors shall comprise four directors and no deputy directors. The AGM resolved that the number of auditors shall be one registered audit firm.
It was further resolved that the remuneration to each of the non-employed directors, shall comprise an amount of SEK 150,000 to the chairman of the board and to an amount of SEK 75,000 to the other directors and remuneration to the auditor shall be paid in accordance with approved invoices.
Jean Benaim, Yoav Ben Eli, Alan Simonian and Pierre-Emmanuel Weil were re-elected as directors of the board. Pierre-Emmanuel Weil was re-elected as the new chairman of the board.
Öhrlings PricewaterhouseCoopers AB was re-elected as the Company auditor. Öhrlings PricewaterhouseCoopers has announced that Bo Lagerström remains as main responsible auditor.
Guidelines for remuneration to the senior executives
The AGM resolved, in accordance with the board of directors proposal, to adopt, in principle, the same guidelines adopted at the AGM 2016.
Change of the articles of association
The AGM resolved, in accordance with the board of directors’ proposal regarding a change of the articles of association with respect to removal of the post-transfer purchase right clause.
Stockholm in May 2017
Crown Energy AB (publ)
The board of directors
This information is information that Crown Energy AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 4:30 PM CET on 12 May 2017.
Please contact Andreas Forssell, CEO, Crown Energy AB
+46 8 400 207 20
+46 707 51 41 84
ABOUT CROWN ENERGY
Crown Energy is an international oil and gas company engaged in exploration in Africa and Middle East. Growth is created by developing assets in early stages and then maximizing value by introducing appropriate industry partners in the development and production stages. For more information please visit www.crownenergy.se