STEINHAUSEN, SWITZERLAND – EQS Newswire – 25 October 2022 – Terraoil Swiss AG (“Company”), an energy company with a strong focus on the Mediterranean is pleased to announce that the Annual General Meetings for fiscal years 2020 and 2021 were held as scheduled on October 20, 2022 at Theater Casino, Zug Switzerland.
Shareholders were provided with an update on the current activities of the Company followed by the formal meetings for each of the two fiscal years. The allegations that had previously been raised by the media against the Company and its management, and proved to be false by numerous authorities, were discussed in detail and the shareholders expressed overwhelming support for management and their efforts to guide the Company through the difficult situation that had been caused by these false allegations.
All of the business matters before the shareholders were passed by over 96% of the votes cast at the meeting. The shareholder resolutions for both meetings can be accessed at
Chief Executive Officer, Peter Krempin commented:
“It was great to see so many shareholders able to attend the AGMs. We all share frustration over the delays in our business development and our aim to list our shares on a stock exchange. Our objective in the short term is to complete the restructuring of the Company to pave the way for a transaction resulting in the listing of our shares, provided, of course, that all necessary market and regulatory conditions will be fulfilled by that time. Under the planned restructuring, it is envisaged that all shareholders of Terraoil will receive the same percentage shareholding in the new Liechtenstein Topco as they hold in Terraoil. The shareholder support shown over our battles against the media was overwhelming.”
If you are an
Terraoil shareholder and would like
additional information, contact
Peter Krempin either via email [email protected] or by telephone at +41 71 544 01 20.