Avance Gas Holding Ltd – Notice of Special General Meeting

06 Dec 2024 13:48 CET

Avance Gas Holding Ltd (OSE: AGAS) (“AGAS” or the “Company”) – Notice of Special
General Meeting

Reference is made to the press release issued by the Company on 27 November
2024, in connection with Third Quarter 2024 Earnings, which stated the intention
to wind-up AGAS and ensure the timely and cost-efficient return of the remaining
capital to its shareholders. In preparation for this, the Company advises that a
special general meeting of the Company will be held on 5 February 2025 (the
“SGM”) for its shareholders to consider and approve a capital reduction. As
previously stated, the capital freed up from the reduction will be distributed
to the Company’s shareholders as a repayment of capital, in a tax-efficient
manner, coinciding with Fourth Quarter 2024 reporting in February next year.
Concurrently, discussions have commenced with EY Bermuda in relation to
proposing partners from that firm as potential liquidators and, subject to
onboarding requirements, to assist the Company navigate towards a formal
liquidation process, which is due to commence in the second quarter of 2025,
following the return of all remaining capital to the Company’s shareholders.

The record date for voting at the SGM is set to 7 January 2025. A copy of the
notice of the SGM, including relevant details of the proposal and associated
information, will be distributed and made available prior to the SGM in
accordance with the Company’s Bye-laws.

6 December 2024
The Board of Directors
Avance Gas Holding Ltd
Hamilton, Bermuda

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