News

: Invitation to vote in the Investors' Council

February 19, 2024

Invitation to vote in the Investors' Council

DEAR SHAREHOLDERS,

With this invitation, in connection with the Proposal of the Executive Director of „Webit Investment Network“ EAD, UIC 206870298, with registered office and registered office in Bulgaria, Varna, p.k. 9000, „Vladislav Varnenchik“ boulevard № 53-55, fl. 3 („The Company”), we inform you that from 9:30 a.m. on 4.03. 2024, until 9:30 a.m. on 5.03. 2024, a vote will be held by the Board of Investors of the Company, under the following conditions:

  1. Questions to be voted on and voting opportunities.

Determination of the companies participating in the Founders Games project in which the Company will invest its assets. Information about the companies participating in the Founders Games project included in the vote can be found here: https://www.webit.network/registracia.php

Voting opportunities: The vote is carried out by means of a negative vote, in which members of the Board of Investors may vote against making an investment in one or more companies participating in Founders Games project.

Examples explaining the voting rules are available at: https://www.webit.network/registracia.php.

In order for a company to be excluded from the Company's eligible investments, it must collect more than 33% of the negative vote on the voting rights participating in the vote.

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  • Voting start date and period:

    • Each member of the Investor Council may exercise his/her right to vote within 24 hours, starting from 9:30 a.m. on March 4, 2024.

    The Investor Council may take a valid decision if members of the Investor Council holding more than 33% of the total number of voting rights granted by the Company's ordinary shares in circulation participate in the vote. In the event that by 9:30 a.m. on March 5, 2024, the necessary quorum has not been reached for a valid decision of the Investor Council, the voting period shall be extended until 9:30 a.m. on 6.03.2024.

    1. Voting method and formalities that must be fulfilled to participate in the voting.

    The Investors' Council will be held by electronic voting. In order to exercise their right to vote, each shareholder – member of the Investors' Council should register by filling out a registration form at https://www.webit.network/registracia.php.

    After checking the data and documents provided by the respective shareholder, the Company registers the same and sends him a voting link to the e-mail address specified in the registration form. The voting link will be active from 9:30 a.m. on 4.03.2024 until 9:30 a.m. on 5.03.2024 After exercising their right to vote, each shareholder will receive a registration number of the vote they cast, at the e-mail address specified in the registration form.

    Shareholders should keep in mind that when filling out the registration form, they should identify themselves in accordance with the requirements of Rules of Operation of the Investors' Council (pdf).

     

    1. The date on which the circle of holders of ordinary shares in the Company with the right to participate in the vote is determined;

    The right to participate in the vote is exercised by the holders of ordinary shares of the Company, entered as such in the central register of securities securities, kept by “Central Depository“ AD, 7 (seven) days before the start of voting – 26.02.2024.

    Each member of the Investors' Council has the right to vote, which is equal to the ordinary shares of the Company held by him, multiplied by the number of questions put to vote by the Investors' Council.

    1. Date on which the result of the vote is determined;

    The results of the vote will be announced on the Company's website https://webit.network/ and at http://www.x3news.com/, within 10 (ten) business days from the expiration of the voting period, i.e. by 16.03.2024. If necessary, this period may be extended.

    1. Quorum and Majority Requirements

    The Investors' Council may make a valid decision if members of the Investors' Council holding more than 33% of the total number of voting rights granted by the Company's ordinary shares in circulation participate in the vote. In the event that by 9:30 a.m. on March 5, 2024, the necessary quorum has not been reached for a valid decision of the Investors' Council, the voting period shall be extended until March 6, 2024. In the event that the required quorum is not reached within the extended voting period, the decision of the Board of Investors is not binding on the Board of Directors, but the latter, at its own discretion, may take into account the results of the vote when making a decision on the issues – subject of the vote.

    In order for a company to be excluded from the circle of eligible investments of the Company, it must collect more than 33% of the negative vote on the voting rights participating in the vote.

    1. The place where the materials on the issues put to the vote and additional information on the manner of exercising the right to vote can be obtained;

    Materials in connection with the issue put to the vote, pursuant to 1, will be published on the Company's website https://webit.network/.

     

    Petar Dimitrov Neychev
    Chairman of the Investors' Council,
    Webit Investment Network EAD