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Articles of association Crown Energy AB

CORPORATE NUMBER: 556804-8598

§ 1 COMPANY NAME

The company’s name is Crown Energy AB. The company is a public company (publ).

§ 2 RESIDENCE OF THE BOARD OF DIRECTORS

The Board resides in Stockholm County, Stockholm Municipality, Sweden.

§ 3 OPERATIONS

The company shall carry out business within the oil and gas industry and real estate industry, manage real property and chattels and to conduct activities related to the aforementioned.

§ 4 SHARE CAPITAL

The share capital shall be at least SEK 14,000,000 and no more than SEK 56,000,000.

§ 5 NUMBER OF SHARES

The number of shares shall be minimum 477,000,000 and maximum 1,908,000,000.

§ 6 BOARD OF DIRECTORS

The board of directors shall consist of a minimum of 3 and a maximum of 10 directors, with a maximum of 5 deputy directors.

§ 7 AUDITOR

For the review of the company's annual report as well as the management pursued by the board of directors and the managing director, one to two auditors with up to two deputy auditors, or a registered accounting firm shall be appointed until the end of the next annual general meeting after the auditor was elected.

§ 8 CONVENING OF A GENERAL MEETING

Notice of Annual General Meeting shall be published in The Post och Inrikes Tidningar and on the company website. That notice is done shall be published in the Swedish newspaper Svenska Dagbladet.

§ 9 NOTICE TO ATTEND AT GENERAL MEETINGS

Right to attend the Meeting are those shareholders entered in the register of shareholders as prescribed in Chapter 7, Article 28 § 3 paragraph of the Companies Act and has notified the company by the date specified in the notice. This may not be a Sunday, public holiday, Saturday, Midsummer Eve, and no earlier than five business days before the meeting.

§ 10 ANNUAL GENERAL MEETING

Annual general meeting of shareholders shall be held annually within six (6) months after the end of the financial year.
At the annual general meeting, the following issues occur:

  1. Election of a Chairman for the meeting.
  2. Appointment of secretary.
  3. Preparation and approval of voting list.
  4. Approval of the agenda.
  5. Election of one or two persons to verify the minutes.
  6. Confirmation that the meeting was duly convened.
  7. Presentation of the annual report and the Auditors report and, where appropriate, consolidated accounts and consolidated auditor's report.
  8. Decisions
    1. adoption of the income statement and balance sheet and, where appropriate, the consolidated income statement and consolidated balance sheet;
    2. on allocation of the company's profit or loss according to the adopted balance sheet;
    3. on discharge from liability to the members of the Board and Managing Director.
  9. Determination of the number of Directors and Deputy Directors and, whenever applicable, auditor and deputy auditor.
  10. Determination of the Board of Directors and Auditor's fees.
  11. Election of Board and any deputy members and, where applicable, auditors and Deputy Auditors.
  12. Other issues, which is the responsibility of the general meeting in accordance with the Swedish companies act or the articles of Association.

At the AGM, everyone vote for the total number of owned and represented shares, without limitation of voting rights.

§ 11 FINANCIAL YEAR

The company's fiscal year is the calendar year.

§ 12 CENTRAL SECURITIES DEPOSITORY REGISTRATION

A shareholder or nominee that is registered in the share register and a CSD register on the record date, in accordance with Ch. 4 the Central Securities Depositories and Financial Instruments Accounts Act (SFS 1998:1479), or registered in a CSD account pursuant to Ch. 4 Sec. 18 first § item 6-8 of the aforementioned act, is deemed to have the right to exercise the rights stipulated in Ch. 4 Sec. 39 the Swedish Companies Act (SFS 2005:551).

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These articles of association have been adopted at the annual general meeting on 17 May 2018.

Crown Energy AB (publ)

Norrlandsgatan 18, SE-111 43 Stockholm

Phone+46 8 400 207 20

Fax+46 8 400 207 25

Emailinfo@crownenergy.se

Organisationsnummer556804-8598