Ebusco convenes an Extraordinary General Meeting

Deurne, 7 February 2025 – Ebusco (Euronext: EBUS) today convenes an extraordinary general meeting of shareholders (EGM), to be held on 26 March 2025.

• Mr. Duan Wei and Mr. Michel van Maanen are to be appointed to the Management Board
• Mr. Chen Li to be appointed to the Supervisory Board
• Share issuance to Gotion and CVI (Heights)

Agreement with Gotion

The EGM is convened to enable Ebusco to comply with its undertakings under the investment agreement with Gotion.

Today, Gotion owns 3.3% of the shares in Ebusco, acquired in November 2024 in partial payment of its accounts payable position. Gotion now wishes to convert EUR 4.01 million of its remaining account payable position, at the same issue price per share, which would result in a shareholding of Gotion in Ebusco of just over 10%.

Ebusco wishes to use the opportunity to increase the authority to issue shares, also to service its obligations to CVI (Heights).

Also, Gotion has exercised its right under the investment agreement to nominate its candidates to the Management and Supervisory Boards:

• Duan Wei as Gotion’s representative in the Management Board, as deputy CEO on a part-time basis. Mr. Duan Wei is currently the director of Gotion GmbH and a member of the board of Gotion’s EMEA business; and
• Chen Li as Gotion’s representative in the Supervisory Board, as chairman of the Nomination Committee. Mr. Chen Li is currently the head of Gotion’s America Business.

Appointment of Mr. van Maanen

As announced in Ebusco’s press release on 18 December 2024, Ebusco also proposes to appoint Mr. Michel van Maanen as member of the Management Board in the role of Chief Operating Officer.

Supervisory Board Composition

Mr. Jeroen Drost has stepped down from the Supervisory Board. Mr. Drost has been a member of the Supervisory Board since the company’s IPO in 2021 and Ebusco is extremely thankful for all his valuable contributions and support over the years.

After the appointment of Mr. Chen Li the Supervisory Board will not comply with the diversity objectives of at least one third female members. However, the relationship with Gotion is strategically of critical importance to Ebusco, and Gotion has the right to nominate an individual of its choosing. The appointment is for a period of 2 years, unless Ebusco redresses the gender balance in the Supervisory Board in the interim.

Voting undertakings

Ebusco’s major shareholders Peter Bijvelds Holding, CVI Investments Inc. and ING Corporate Investments Participaties BV have committed to vote in favor of the resolutions following from the investment agreement with Gotion that are referred to above.

Financial calendar for 2025

The contents of this press release may qualify as inside information within the meaning of Article 7(1) of the European Market Abuse Regulation (MAR). This press release was distributed at 7:30 am on February 7th, 2025.