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Pelican Aqua Holding PLC – Extraordinary General Meeting held

The following resolutions were passed:

• That the appointment of Kjetil Grønskag as a director on the date of the Listing is ratified and approved with his term ending 24 months after such appointment.
• That the appointment of Uwe Detlef von Sehrwald as a director on the date of the Listing is ratified and approved with his term ending 24 months after such appointment.
• That the appointment of Gunnar Eliassen as a director is ratified and approved with his term ending on the 26 March 2028.
• That the appointment of Marios Saveriades as a director is ratified and approved with his term ending on the 7 May 2028.
• That the adoption of the Share Scheme be and is approved.
• That any and all pre-emption rights under Regulations 5 and 21 of the Articles and section 60B of the Companies Law, Cap 113, as well as any other pre-emption rights or rights of first refusal, howsoever arising, are unconditionally waived and dis-applied in connection with the issue of shares and/or granting of options or other equity or equity-linked instruments which on exercise will result in issue of, in aggregate up to 700,000 ordinary shares to Eligible Participants for the purposes and in connection with the Share Scheme as the board of directors deems fit.
• That authority is given to the Board to issue shares and/or grant options or other equity or equity-linked instruments, which on exercise will result in issue of, in aggregate up to 700,000 ordinary shares to Eligible Participants for the purposes and in connection with the Share Scheme in accordance with the Report out of the authorised / registered but unissued share capital of the Company subject to and in accordance with the provisions of the Law and the Articles provided that: (a) the Securities may be issued and/or granted at the discretion of the Board, at any time and from time to time, to such persons and at such price as the Board may determine in accordance with the Share Scheme, provided that the issue price of such shares shall not be below the nominal value of such shares; and (b) each of the directors and/or the secretary of the Company is hereby authorised and instructed to take all such actions, execute all such documents, and do all such things as may be necessary or desirable to give effect to this Resolution, including without limitation the filing of any notices, returns or other documents with the Registrar of Companies in Cyprus and any relevant stock exchange or securities regulator.
• That the remuneration of Mr. Kjetil Grønskag, non-executive director of the Company is hereby fixed at the amount USD 30,000 per year/twelve months. The remuneration is due starting from the date of appointment of Mr. Kjetil Grønskag as director of the Company.
• That the remuneration of Mr. Gunnar Eliassen, a director and Chairperson of the Company is hereby fixed at the amount of GBP 200,000 per year/twelve months. The remuneration is due starting from the date of appointment of Mr. Gunnar Eliassen as director of the Company.
• That the remuneration of Mr. Marios Saveriades, non-executive director of the Company is hereby fixed at the amount of the EUR equivalent of USD 30,000 per year/twelve months. The remuneration is due starting from the date of appointment of Mr. Marios Saveriades as director of the Company.
• That the remuneration of Mr. Uwe Detlef von Sehrwald, non-executive director of the Company is hereby fixed at the amount of USD 30,000 per year/twelve months. The remuneration is due starting from the date of appointment of Mr. Uwe Detlef von Sehrwald as director of the Company.
• That all actions taken by the directors of the Company from the date of incorporation of the Company up until the date of this resolution including in relation to the placing of the Company’s shares (the Private Placement) on Euronext Growth Oslo, a multilateral trading facility (MTF) operated by the Oslo Stock Exchange (the Euronext Growth) and the listing of its shares on the Euronext Growth, be and the same are now ratified, confirmed, sanctioned and approved.