CrayoNano AS summons all shareholders to an Extraordinary General Meeting
Trondheim, Norway—Reference is made to the NOTC-announcement issued by CrayoNano AS (the "Company") on 12 September where the Company provided a market, customer and company update.
The Company hereby summons all shareholders to an Extraordinary General Meeting to be held on 3 October 2024 at 10:00 (Norwegian time).
The Company has been able to conclude certain measures to extend the short-term liquidity to allow for the General Meeting to be conducted. The Board of Directors has also recently on the basis of a revised business plan intensified its initiatives towards the Company's shareholders, other stakeholders and potential new investors to sound the interest in participating in transactions to strengthen the Company's short- and long-term liquidity. As of the date of this announcement these discussions have not led to sufficient interest to propose any transaction for the Company's shareholders to consider at the Extraordinary General Meeting and it is highly uncertain whether it will be possible to find such solutions to be presented for the Extraordinary General Meeting.
There is limited time available to solve the short-term liquidity need and a solution will most likely require resolutions by the General Meeting. In order to allow the Board of Directors to continue these discussions while having all relevant tools available, the Board will ask the General Meeting for authorizations to carry out issues of new ordinary shares and new preference shares, as well as convertible loans with conversion right into ordinary shares and preference shares. The Board of Directors accordingly proposes that the General Meeting approves board authorizations with maximum size and flexibility as permitted under the Companies Act, including the ability to deviate from the shareholders' preferential right pursuant to the Companies Act sections 10-4 and 11-4. The Board of Directors also asks to be mandated to explore opportunities to enter into, and to conclude, transactions involving disposal of all or parts of the Company's assets, including but not limited to its IPR.
For further information please refer to the enclosed notice.
2024-09-19_CrayoNano-Notice-of-EGM.pdf
For more information, please contact:
Thomas Dobbertin
Managing Director, On behalf of Chairman of the Board
Phone: +47 72 90 98 60
Mail: investor@crayonano.com