DGAP-News

Activa Resources AG: Activa Resources AG reports on its 2015 Annual General Meeting

DGAP-News: Activa Resources AG / Key word(s): AGM/EGM/Miscellaneous
Activa Resources AG: Activa Resources AG reports on its 2015 Annual
General Meeting

13.07.2015 / 15:43

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Activa Resources AG reports on its 2015 Annual General Meeting

Bad Homburg, 13th July 2015. Activa Resources AG provides the following
details of its 2015 Annual General Meeting which took place in Bad Homburg,
Germany on 9th July.

The meeting was well attended with 56.3 % of the company's issued share
capital represented (vs. 36.8 % in 2014). Following the general discussion
all resolutions were passed with the required majority. The resolution
regarding formal approval of the actions of the Management Board (CEO Leigh
A. Hooper) was passed unanimously (100%). The resolutions regarding formal
approval of the actions of the Supervisory Board, the appointment of the
company's auditors for the 2015 financial year and the approval of
authorised capital were passed by majority vote.

Further to the expiry on July 9th of the five year term of the Supervisory
Board members Messrs. Blumenthal, Vedder and Dr. Escher shareholders
followed the company's proposal and re-elected Messrs. Blumenthal and
Vedder and elected Mr. Johannes Zwick for a term of 5 years. Mr. Zwick
replaces Dr. Escher who did not stand for re-election on grounds of age.
The resolution was passed by majority vote. The Management Board and the
Supervisory Board expressed their gratitude to Dr. Escher for his highly
constructive input over the last ten years.

CEO Leigh A. Hooper provided shareholders with a detailed report on the
company's activities in 2014 and corporate developments during the current
year. Mr. Hooper's comments focussed particularly on the company's progress
in 2014, the impact of the fall in oil prices since September 2014 and the
company's strategy in the current price environment. After a six month
drilling hiatus, during which the company has executed a significant
cost-reduction programme, Activa recently kicked off a new drilling
programme which currently does not include OSR-Halliday, the company's main
asset. Preparations are, however, underway to resume drilling at
OSR-Halliday as soon as possible.

Overall, Activa is well positioned in the current price environment with
its asset portfolio, thanks in particular to the drilling successes in 2014