On January 28, 2015, Oncard International Limited announced that it has reached an agreement with Michael Piperoglou and his company Narlack Pty Ltd who requisitioned the general meeting of the Company that has been convened to be held on February 13, 2015 to consider resolutions to remove all of the existing directors of the Company and to appoint in their place Vasilios Piperoglou, Peter Abotomey, and Ronald Holzer. The Company announced that pursuant to the agreement (i) Piperoglou shareholders have withdrawn their request for the requisitioned meeting to be held, and Vasilios Piperoglou, Peter Abotomey and Ronald Holzer have withdrawn their candidacy for appointment, and their consents to act, as directors of the Company and (ii) the Company will convene a general meeting of the Company to seek the approval of shareholders to the return of capital by mid-April 2015 and, if approved, will finalize the proposed distribution as soon as reasonably practicable thereafter.