Notice of Extraordinary General Meeting

 

Wednesday, 10 April 2024

KR1 plc

(“KR1” or the “Company”)

Notice of Extraordinary General Meeting

KR1 plc (KR1:ASE), a leading digital asset investment company, announces that the Company is today issuing a circular (the "Circular") to Shareholders convening a General Meeting of the Company for 10.00 a.m. on 29 April 2024.

At the General Meeting, a resolution will be proposed seeking shareholder approval for KR1 to make market purchases of up to 14.99 per cent. of the Ordinary Shares currently in issue.

The Directors believe that, in common with many other listed companies, the Company should obtain from Shareholders a general authority to make market purchases of its Ordinary Shares on the stock exchange. Accordingly, the Board is seeking Shareholder approval at the Extraordinary General Meeting to make market purchases of up to 14.99 per cent. of the Ordinary Shares currently in issue.

If the Resolution is passed at the EGM, the Buy-Back Authority will give the Company authority to buy back its Ordinary Shares in the market as permitted by the Act and the Articles. Any Ordinary Shares bought back may be cancelled or held in treasury.

The Buy-Back Authority will expire at the conclusion of the annual general meeting of the Company to be held in 2025 (the "2025 AGM") or the date falling 18 months after the passing of the Resolution, whichever is the earlier. However, the Directors currently intend to ask Shareholders to renew this authority at the 2025 AGM and each subsequent annual general meeting thereafter.

The Resolution specifies the maximum number of shares which may be acquired (up to 14.99 per cent. of the Company’s issued ordinary share capital as at the date of the Extraordinary General Meeting) and the maximum prices at which they may be bought.

The Buy-Back Authority will be exercised only if the Directors believe that to do so would be in the best interests of Shareholders generally.

The Board believes the Buy-Back Authority (and any resulting market purchases of Ordinary Shares if so determined) will benefit Shareholders by providing a mechanism through which the Company can utilise its available cash resources to manage any discount between the Company's share price and its net asset value per Ordinary Share.

A copy of the full text of the Circular will be available at www.kr1.io. Words and expressions defined in the Circular have the same meaning in this announcement.

The Directors of KR1 plc accept responsibility for this announcement.

--ENDS--

For further information please contact:

KR1 plc George McDonaugh Keld van Schreven	[phone]
Peterhouse Capital Limited (Aquis Corporate Adviser) Mark Anwyl	[phone]
SEC Newgate (Financial Communications) Bob Huxford Ian Silvera Atif Nawaz	[phone] [e-mail]

About KR1 plc

KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London on the Aquis Growth Market (KR1:ASE), KR1 has one of the longest and most successful track records of investment in the digital assets space by investing in decentralised platforms and protocols that are emerging to form new financial and internet infrastructures.

www.KR1.io

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

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