Extraordinary General Meeting of Shelly Group AD adopts all resolutions with great majority

• Start of preparation procedure for change of legal form to a European Company (Societas Europaea, "SE") resolved
• Mr. Christoph Vilanek replaces Mr. Gregor Bieler on the Company's Board of Directors from 1.1.2024

Sofia / Munich, 19 December 2023 – The Extraordinary General Meeting of Shelly Group AD (Ticker: SLYG / ISIN: BG1100003166) ("Shelly Group" / "the Company"), that was held on 18 December, approved all proposed resolutions by a large majority. With 72.87% of the share capital present, all necessary quorums for a valid resolution were also met.

The resolutions comprised personnel changes in the Board of Directors, the remuneration of the executive members of the Board of Directors and the initiation of a preparational procedure to change the legal form of the Company into a European Company (Societas Europaea, “SE”).

In particular, the shareholders elected Mr. Christoph Vilanek to succeed Mr. Gregor Bieler on the Company's Board of Directors with effect from 1 January 2024, who will resign from office on the same day for capacity reasons. Mr. Bieler has a new full-time management position, which no longer allows him to take on additional non-executive Board of Directors mandates. Mr. Vilanek's term of office coincides with that of the current members of the Board of Directors and therefore runs until 5 January 2026.

The shareholders also approved the Company's proposed amendments to the remuneration policy.

Moreover, the shareholders adopted a resolution that the Company shall initiate a procedure for the transformation of Shelly Group PLC by changing its legal-organizational form from a joint stock company with registered office in the Republic of Bulgaria into a European company with registered office in the Republic of Bulgaria in accordance with Article 281 et seq. of the Commercial Act and the Council Regulation (EC) No. 2157/2001 of 8 October 2001 on the Statute for a European Company (SE). The Board of Directors was instructed to carry out any and all legal and factual actions with a view to preparing the transformation. The Board of Directors is entitled to delegate any of these activities to individual members of its own staff as well as to third parties at its discretion.

Further information on the resolutions is available on the Company's website at https://corporate.shelly.com/corporate-governance/general-meeting-of-the-shareholder/year-2023/.

About Shelly Group

Shelly Group AD is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Shelly Group was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 6 subsidiary companies and has offices in Bulgaria, Germany, and Slovenia as well as in China and USA. Shelly Group’s products have already conquered over 100 markets. Shelly Group AD has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker SLYG.
 

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