Announcement from the Annual General Meeting

The Annual General Meeting of Gripen Oil & Gas AB (publ) took place on the 29th of May 2015 in Stockholm. Below follows a summary of the most important decisions made by the Annual General Meeting:

Annual Report 

The financial statements, including the annual report and the auditor’s report as well as the consolidated annual report and the auditor’s report, were presented and adopted by the Meeting. The Meeting decided that the unrestricted equity at the disposal of the General meeting, SEK 38,720.223, shall be carried forward. The Meeting discharged the Board and the CEO from liability for the financial year 2014. No dividends shall be distributed for 2014.

Board of Directors and auditor

The Meeting re-elected My Simonsson, Stephen Crabtree, Peter Schweizer and Sven-Erik Zachrisson as members of the board. The following constituent board meeting elected My Simonsson as Chairman of the Board. The remuneration to the Board of Directors was resolved by the Meeting according to the following: The Chairman of the Board will be remunerated with 178,000 SEK (233,927 if invoiced from a legal entity) and Sven-Erik Zachrisson will be remunerated with 100,000 SEK (131,420 if invoiced from legal entity). Other members of the Board are remunerated with 44,500 SEK respectively (58,482 if invoiced from legal entity). The meeting re-elected Carl Magnus Kollberg as the Company’s auditor to be compensated based on reasonable and, by the Company, approved invoicing. 

Authorization to resolve on issue of new shares

The Meeting resolved in accordance with the Board's proposal to authorize the Board to resolve, on one or several occasions, prior to the next Annual General Meeting, to issue shares of not more than 53,500,000 without deviation from the preferential rights of shareholders and of not more than 10,700,000 shares, with deviation from the preferential rights of shareholders.

Others

For more detailed information about the Board’s proposals the company refers to the notice document sent out on the 29thof April and the full proposals, to be found on the company’s website. The Meeting passed all items on the agenda in accordance with the Board’s proposals. The Annual Report for 2014 can be ordered from the company or downloaded on www.gripenab.com.

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