Notice of an extraordinary general meeting of Waste Plastic Upcycling A/S

05 Apr 2023 21:00 CEST

Date: April 5, 2023
ISIN: DK0061676400

TO THE SHAREHOLDERS OF WASTE PLASTIC UPCYCLING A/S, (CVR) NO. 41873264

In accordance with the Articles of Association, notice is hereby given of an
extraordinary general meeting of Waste Plastic Upcycling A/S to be held on:

Thursday, April 20 2023 at 1:00 PM CEST

At Clarion Hotel Copenhagen Airport
Copenhagen Airport, Ellehammersvej 20, 2770 Kastrup, Denmark

as a physical meeting without electronic participation in accordance with
Article 5.2 of the Articles of Association with the below agenda.

Waste Plastic Upcycling A/S is a Danish company and is subject to the Danish
Companies Act.
Agenda:

The agenda of the extraordinary general meeting is:

1. Amendment of company name from “Waste Plastic Upcycling A/S “ to “WPU – Waste
Plastic Upcycling A/S” to reflect actual use.

2. Suggestion to authorize the Board of directors of the Company to adopt and
issue a warrant program for the benefit of the employees and leadership of the
company,

3. Election of new auditor

The Board of Directors proposes that Deloitte Statsautoriseret
Revisionspartnerselskab, København, CVR-nr.: 33 96 35 56, is elected as the new
auditor for the company.


Elaboration on selected items of the above agenda can be found in the enclosed
Appendix 1 to this notice.


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Voting requirements

Approval of items 1- 2 of the agenda requires a qualified majority of 2/3 of the
votes cast and 2/3 of the votes represented on the general meeting

Approval of item 3 of the agenda requires a simple majority of votes.

Share capital and voting rights
The Company's share nominal capital is DKK 500,745.72 divided into 50,074,572
shares each of a nominal value of DKK 0.01. Each share of DKK 0.01 carries one
vote (see Article 3.1 of the Articles of Association).

Each share gives the shareholder a right to attend general meetings, vote, ask
questions and propose items to the agenda, however, subject to the Articles of
Association.

Registration date
Pursuant to Article 10.5 of the Articles of Association, a shareholder’s right
to participate in the general meeting and the number of votes, which the
shareholder is entitled to cast, is determined in accordance with the number of
shares held by such shareholder on April 17, 2023 (the "registration date").

The number of shares held by each shareholder is determined on the basis of (i)
the shareholdings registered in the name of the respective shareholder in the
shareholders' register at the registration date and (ii) in accordance with any
notifications (along with proper documentation) of shareholdings received no
later than on the registration date, but not yet registered, by the Company in
the shareholders' register.

Shares held in the name of a depository-/ nominee bank: Any shareholders wishing
to exercise their rights in connection with the annual general meeting and which
are registered in the shareholders' register in the name of their respective
depository-/ nominee bank (i.e. not being registered in their own name) are
encouraged to contact their respective depository- /nominee bank well in advance
of the registration date to ensure that correct and sufficient notification and
documentation is received by the Company no later than on the registration date.

The shareholders' right to participate in the general meeting is further subject
to the shareholders' notice of participation (described below).

Notice of Participation
A shareholder or its proxy wishing to participate in the electronic general
meeting must give notice of their participation using a written Notice of
Participation.

Notice of Participation may be sent by email to KL@WPU-DK.COM. Notice of
Participation must be received by WPU no later than 11:59 PM on April 18 2023.

The board of directors of the Company has received voting proxies from
shareholders representing more than 75 % of the issued share capital of the
company, authorizing the board of directors to vote in favor of item 1 - 3 of
the Agenda.

The consequence of these voting proxies is that all proposed items on the agenda
will be passed.

Proxy
If you do not wish to participate - or are prevented from participating - in the
general meeting, you may appoint a proxy to cast the votes carried by your
shares. If you wish to appoint a proxy, please complete, and submit a written
proxy duly signed and dated to the Company. The proxy form may be sent by email
KL@WPU-DK.COM. The proxy form must be received by WPU no later than 11:59 PM on
April 18 2023.

Questions
At the extra ordinary general meeting, the Board of Directors will not answer
questions from the shareholders.

Language
The language at the general meeting will be English, without simultaneous
interpretation to and from Danish (see Article 6.1 of the Articles of
Association).

Processing personal data
Waste Plastic Upcycling A/S process your personal data for the purpose of
convening and conducting our extraordinary general meeting. In this regard, we
may share your information with our service providers.

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Fårevejle, April 05, 2023.
Best regards
The Board of Directors
Waste Plastic Upcycling A/S

APPENDIX 1 - ELABORATION ON SELECTED ITEMS OF THE AGENDA

Item 1. Proposal to amend the company name from “Waste Plastic Upcycling A/S “
to “WPU – Waste Plastic Upcycling A/S” to reflect how the company name is
actually used.

It is proposed that the company name is amended from “Waste Plastic Upcycling
A/S “ to “WPU – Waste Plastic Upcycling A/S” to reflect actual use. The passed
proposal change the wording of the articles of association of the Company
article 1.1 to:

”Selskabet navn er WPU - Waste Plastic Upcycling A/S.”
Item 2. Proposal to authorize the board of directors of the Company to adopt and
issue a warrant program for the benefit of the employees and leadership of the
company.

The board of directors proposes that the articles of association of the Company
is amended and the following article 2.3.5.5 is included in the articles of
association:

“2.3.5.5 Bestyrelsen er indtil den 30. juni 2026 bemyndiget til, ad én eller
flere gange, at udstede op til 10.000.000 warrants, samt til at træffe
beslutning om kapitalforhøjelsen relateret til udnyttelse af warrants og til i
øvrigt foretage de nødvendige konsekvensændringer i selskabets vedtægter.
Warrants kan udstedes til medarbejdere og medlemmer af bestyrelsen og
direktionen, herunder endnu ikke tiltrådte medarbejdere, i selskabet og
selskabets datterselskaber, samt til disse personers helejede selskaber. For
warrants udstedt i henhold til denne bemyndigelse og de dertil hørende
kapitalforhøjelser gælder; én warrant giver ret til tegning af 1 aktie à
nominelt kr. 0,01; den maksimale nominelle kapitalforhøjelse, der kan tegnes på
baggrund af de udstedte warrants, udgør DKK 100.000 i alt; der kan ikke ske
delvis indbetaling; selskabets aktionærer skal ikke have fortegningsret til de
udstedte warrants, ligesom de heller ikke skal have fortegningsret til de
aktier, der tegnes på grundlag af de pågældende warrants; der skal ikke gælde
generelle indskrænkninger i fortegningsretten, der tilkommer de nye aktier ved
senere kapitalforhøjelser; kursen ved udnyttelsen af warrants fastsættes af
selskabets bestyrelse på tidspunktet for tildelingen af warrants og kan være
lavere end markedskurs; de nye aktier skal lyde på navn og skal optages i
selskabets ejerbog; og at de nye aktier skal være omsætningspapirer. ”

Item 3. Proposal to elect a new auditor

The company group has previously been audited by BUUS JENSEN I/S
STATSAUTORISEREDE REVISORER. However, as the auditor has provided advice to the
Company the auditor is by statue prevented from auditing the Company.

It is proposed that Deloitte Statsautoriseret Revisionspartnerselskab,
København, CVR-nr.: 33 96 35 56, is elected as new auditor for the company.

BUUS JENSEN I/S STATSAUTORISEREDE REVISORER remains as auditor for the
subsidiaries of the Company.

More information:
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587245_Notice EGM april 2023.pdf