Pursuant to Section 9 (2) of the Decree, the Board of Directors of the Company is authorised to make decisions on any and all matters listed on the agenda of the invitation to the Annual Ordinary General Meeting, including the approval of the Company’s annual accounts, the amendment of the Articles of Association, as well as matters listed in Section 5 (1) of the Decree. As per Section 9 (5) of the Decree, the Board of Directors is obliged to make a decision on the accounts of the Company prepared according to the Accounting Act by 30 April 2020.

With regards to the above, the Company informs its shareholders that the Company’s Annual Ordinary General Meeting scheduled for 30 April 2020 will not be held. Acting as the Company’s management, the Board of Directors will make decisions on all matters listed in the Agenda of the General Meeting. 

The Board of Directors also informs the shareholders that the resolutions passed by the Board of Directors within its competence as the general meeting will be published in accordance with Section 3:279 of the Civil Code.

The Board of Directors further informs the shareholders that they are entitled to the rights defined in Sections 9 (6) and (7) of the Decree with regards to the subsequent convening of the general meeting. The right to convene a general meeting may be exercised by those shareholders who are listed in the Company’s share register based on the shareholder identification process requested and performed with respect to the General Meeting specified in the originally published invitation. Shareholders satisfying such conditions may initiate the convening of the general meeting in writing by request addressed to the Board of Directors of the Company and sent by registered mail with notice of receipt to the registered address of the Company, provided, that the request must be received by the Company by the last day of the time limit specified in the Decree. The date of the receipt of the letter by the Company is verified by the Company’s received stamp. Failure to meet the deadline shall result in the forfeiture of this right.

The Company continues to make every effort to ensure that its shareholders receive all the necessary information without delay and gives priority tp the interests of shareholders in the current situation.

Budapest, 17 April 2020
Board of Directors of AutoWallis Nyrt.