Assima : Minutes of the AGM 30 Jun 20

MINUTES OF AN ANNUAL GENERAL MEETING

OF

KLIMVEST PLC

Company Number 04426643

(the "Company")

MINUTES of an Annual General Meeting of the Company held via Zoom on 30 June 2019 at 14:00 BST.

PRESENT:

Michel Balcaen (in his capacity as Director of the Company and proxy holder for Klimt Invest), Frédéric Sénégas and Eric Duneau. Also present were Tony Coates and Randall Anderson.

• 1. Michel Balcaen was appointed Chairman of the meeting.

• 2. The Chairman noted that notice of the Annual General Meeting and a proxy form had been sent to the members of the Company on June 5, 2020.

3. The Chairman noted that three members of the Company were present. Collectively, the members present own more than 90% of the voting rights of the Company.

4. The Chairman put to the meeting the ordinary resolution set out at paragraph 1 of the notice calling the Annual General Meeting, as follows:

To accept the Directors' Report and Accounts for the year ended 31 December 2019 and the auditors' report on those accounts.

Klimt Invest and Frédéric Sénégas voted in favour of the resolution. Eric Duneau abstained. The Chairman declared that the resolution had been passed.

5. The Chairman put to the meeting the ordinary resolution set out at paragraph 2 of the notice calling the Annual General Meeting, as follows:

To re-appoint Hays MacIntyre as our auditor until next year's AGM.

All present voted in favour of the resolution. The Chairman declared that the resolution had been passed.

6. The Chairman put to the meeting the ordinary resolution set out at paragraph 3 of the notice calling the Annual General Meeting, as follows:

To appoint Paul Griffiths a non-executive director of the Company.

All present voted in favour of the resolution. The Chairman declared that the resolution had been passed.

There followed a discussion of the direction of the Company. Some shareholders urged liquidation as soon as possible while another holder noted the value of the tax losses.

There being no further business the meeting concluded.

Michel Balcaen

Chairman / Director