Results of MotorK General Meeting

July 18, 2022

Commencement of Share Buy-Back Programme

LONDON–(BUSINESS WIRE)– Regulatory News:

MotorK plc (AMS: MTRK) (“MotorK” or the “Group”), a leading SaaS provider for the automotive retail industry in the EMEA region, held a General Meeting (“GM”) today.

MotorK’s shareholders duly passed the proposed resolutions:

Resolution 1 – Ordinary Resolution: Authorization for the Group to buy back its own ordinary shares by way of off-market purchases on Euronext Amsterdam and via block trades up to a maximum aggregate value of €3,000,000 (the “Programme”). This authorization is limited to the maximum of 4,032,895 ordinary shares, representing approximately 10 per cent. of the Company’s issued ordinary share capital as at the date of the last Annual General Meeting of the Company. The authorization will expire following the conclusion of the Annual General Meeting of the Company to be held in 2023
Resolution 2 – Special Resolution: Approval of a capital reduction by way of the cancellation of an amount equal to €4,000,000 standing to the credit of the Group’s share premium account to create additional distributable reserves, including in respect of the Programme (subject to the Court’s approval)

On that basis, Motork announces the commencement of the Programme. The Group regards the ability to repurchase issued shares as an important part of the financial management of the Company, specifically in order to satisfy the exercise of options under the Company’s employee option schemes.

The Programme will be implemented within the limitations of the authority granted by the General Meeting. Any shares so repurchased shall be treated as cancelled pursuant to section 706(b) of the Companies Act 2006.

The Group has entered into non-discretionary instructions with Kepler Cheuvreux SA (“Kepler Cheuvreux”) to conduct the Programme on its behalf and to make trading decisions under the Programme independently of MotorK.

In accordance with regulations, the Group will inform the market about the progress made in the execution of this program through weekly updates and at https://investors.motork.io/news/default.aspx

Forward-looking information / disclaimer

This press release may include forward-looking statements. Other than reported financial results and historical information, all statements included in this press release, including, without limitation, those regarding our financial position, business strategy and management plans and objectives for future operations, may be deemed to be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “anticipates”, “estimates”, “projects”, “will”, “may”, “would”, “could” or “should”, or words or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are based on our current expectations, projections and key assumptions about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MotorK’s ability to control or estimate precisely, such as future market conditions, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which our securities may be traded, we expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Important information

This press release contains information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).

ABOUT MOTORK PLC

MotorK (AMS: MTRK) is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with over 400 employees and eleven offices in eight countries (Italy, Spain, France, Germany, Portugal, the UK, Belgium and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales. Registered office: 124 City Road, London, EC1V 2NX – Company Registration: 9259000. For more information: www.motork.io or www.investors.motork.io.

FOR FURTHER INFORMATION
MotorK Investor Relations
Boaz Zilberman
boaz.zilberman@motork.io
+972 532 819 810

Source: MotorK plc

Results of MotorK General Meeting

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