Date: July 26, 2019

Blue Power Group Limited (BPOW) has advised that an Extraordinary General Meeting will be held on August 14, 2019 after the AGM at which the following resolutions will be considered for approval by the ordinary shareholders of the Company:

1. THAT the issue/transfer of the Company’s shares in a newly created subsidiary of the Company Lumber Depot Limited (“New Lumber Depot”) to the Company’s shareholders on record as at August 1, 2019 with the intent that after such actions, shares in New Lumber Depot shall be held by the shareholders of the Company pro rata to their existing holdings in the Company, is hereby approved.
2. THAT the transfer of the business and assets of the Lumber Depot Division of the Company to New Lumber Depot as of August 1, 2019, in consideration for related liabilities and transaction costs, is hereby approved.
3. THAT any and all acts and deeds carried out in the name and on behalf of the Company in connection with the transactions described in resolutions (1) and (2) above, be and are hereby ratified.

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