Green City AG informs shareholders and presents approved consolidated financial statements 2019 at the Extraordinary General Meeting

Munich, 20 January 2022 – Green City AG today held its Extraordinary General Meeting in digital form. The meeting was convened on December 17, 2021, as it can be assumed, at its due discretion, that a loss of more than half of the Company’s share capital occurred in the 2021 financial year due to necessary value adjustments of receivables, investments in subsidiaries and as a result of expected loss of sales and earnings. During the Extraordinary General Meeting, Green City AG presented the approved consolidated financial statements for 2019 with the management report and the report of the Supervisory Board to the shareholders in accordance with agenda item 2. In the Executive Board’s speech to the shareholders, the Executive Board explained the figures and classified the business development in more detail. All questions of the shareholders were answered.

Discussions are currently taking place with investors. The presentation of a restructuring concept will take place immediately as soon as the talks are more advanced. The shareholders did not approve the actions of the members of the Executive Board for the 2019 financial year. The actions of the Supervisory Board for the 2019 financial year were ratified. Meanwhile, Green City AG is continuing its investor talks. The company will inform about news from the process in a timely manner.