Announcement from Extra General Meeting of Gripen Oil & Gas AB (publ

The Extra General Meeting of Gripen Oil & Gas AB (publ) took place on the 28th of January 2016 in Stockholm. 3 shareholders representing a total of 17.5% were represented on the general meeting. Below follows a summary of the most important decisions made by the extra General Meeting:

Decision to reduce the share capital without redemption of shares.

The meeting decided to reduce the company’s share capital with SEK 10,175,522.20 by allocation to a non-restricted reserve to be used in accordance with the shareholders’ decision. The reduction of the share capital will be made without redemption of shares by changing the share quota value from SEK 0.10 to SEK 0.005 per share. After registration of the share capital reduction, the share capital will amount to SEK 535,553.80 distributed on 107,110,760 shares with a quota value of SEK 0.005 per share.

Decision on delisting

The meeting decided to reject the proposal under item 7 resulting in that the Gripen shares will remain listed on AktieTorget. The reason for this is that Gripen has been approached by a company which may result in a merger if it is of benefit to the shareholders of Gripen. Therefore it was decided to remain listed on Aktietorget as the board considers this to be an advantage to Gripen.

Decision on authorization to issue shares

The Extra General Meeting decided to authorize the Board of Directors to, at one or more occasions before the next Extra General Meeting, with our without deviation from the pre-emption rights of shareholders, resolve upon the new issue shares, warrants and/or convertibles. The issue of shares, warrants and/or convertibles may increase the number of shares by a maximum of 292,889,240 shares corresponding to an increase in share capital of maximum SEK 1,464,446.20.

Others

For more detailed information about the Board’s proposals the company refers to the notice document sent out on the 23rdof December 2015 and the proposal documents, to be found on the company’s website www.gripenab.com. The Meeting passed all items on the agenda in accordance with the Board’s proposals.

The Board

Gripen Oil & Gas AB (publ)

For further information please visit the company web site www.gripenab.com or contact:
Stephen Crabtree
Chief Executive Officer, Gripen Oil & Gas AB (publ)
Phone: +46 72 526 69 88
Email: info@gripenab.com