Shelly Group AD
Allterco JSCo: Resolutions of Extraordinary General Meeting

Publication of inside information according to Article 17 MAR

Allterco JSCo: Resolutions of Extraordinary General Meeting

Sofia / Munich, 8 April 2022 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home products based in Sofia, Bulgaria, today adopted the following resolutions at its Extraordinary General Meeting:

1. The General Meeting of the Shareholders increased the number of the members of the Board of Directors from 3 to 5, where the General Meeting of the Shareholders confirms the current members of the Board of Directors and appoints, in addition, the following new members: Mr. Wolfgang Kirsch and Mr. Gregor Bieler
2. The General Meeting of Shareholders approved amendments to the Remuneration Policy
3. The General Meeting of Shareholders approved amendments and supplements to the Statute of the Company
4. The General Meeting of Shareholders approved the remuneration, the management guarantee and the compensation of the new Board Members.
5. The General Meeting of the Shareholders аpproved the terms and conditions for buyback of up to 80,000 own shares until 31 December 2022 at price in the range from BGN 15 (EUR 7.67) to BGN 30 (EUR 15.34) per share. The buyback can be done at once or in part in one or several buyback procedures (until the maximum number of shares is reached) by the Company and/or any of its subsidiaries through an investment intermediary from any shareholder through stock exchange and/or OTC transactions. The Board of Directors is authorized to undertake all other specific parameters of the buyback and to take all necessary legal and factual actions in execution of this resolution of the General Meeting of Shareholders

The Company will publish the minutes of the General Meeting within the legally established period.

Some of the decisions are subject to entry in the Commercial Register and the Register of Non-Profit Legal Entities.

In compliance with the decision of the General Meeting of the Shareholders and the Statute of the Company, the Board of Directors has appointed Mr. Wolfgang Kirsch and Mr. Dimitar Dimitrov as Chief Executive Officers of the Allterco JSCo in a later meeting today.

* EUR/BGN exchange rate as of April 8, 2022 – EUR 1 = BGN 1.95150

For further information, please visit allterco.com.

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