The Annual Ordinary General Meeting of the companys Shareholders for the fiscal period 01/01 - 31/12/2009 took place today, June 22nd, 2010.
Six shareholders, representing 8,011,153 shares out of a total of 13,191,620, namely 60.73% of the Share Capital and voting rights, attended the Meeting.
The General Assembly with the above-mentioned majority of share capital and voting rights, unanimously approved and made resolutions concerning all items on the agenda, and specifically resolved the following:
1. The Report of the Board of Directors and the Auditors, as well as the Annual Financial Statements for the fiscal period 01/01 - 31/12/2009.
2. The release of the members of the Board of Directors and the Auditors from any liability for indemnity with respect to the fiscal period 01/01 - 31/12/2009.
3. The disposal of profits for the fiscal year 01/01 - 31/12/2009 and the distribution of dividend amounting to 0.068 Euro per share. The above amount is subject to a 10% withholding tax thus, a net amount of 0.0612 Euro per share will be paid to the shareholders. The ex-dividend date is August 4th, 2010.
Beneficiaries of the dividend are those registered in the Companys records in the Dematerialised Securities System on the record date, i.e. on Friday, August 6th, 2010.
The payment of the dividend shall commence on August 12th, 2010, through the branch network of Piraeus Bank S.A.
4. The election of Auditors for the fiscal year 2010 and the approval of their remuneration.
It has appointed Audit Firm "DELOITTE-HADJIPAVLOU SOFIANOS AND CAMBANIS S.A." (Reg. Number Ε120). It also determined the remuneration at 42,000 Euro.
5. The approval of employment agreements for BoD members.
It further approved the BoD members compensation paid for 2009 and set the compensation limits for 2010.
6. The indemnity payment to Members of the BoD.
It further approved the indemnities paid to Members of the BoD and set the indemnity limits for 2010.
7. The share buy-back program based on article 16 par. 2 of Law 2190/1920 as it stands today.
Specifically, it approved:
a. Number of shares bought-back
The purchase of common, bearer, with voting rights, shares of the company, totally paid-off and free of any contractual burden, right or claim which in total - as long as the program is in force - will represent at each time, following the deduction of the respective sales, 7.58% of the Companys share capital.
b. Scope of the share buy-back program
The servicing of the allowable by the law purposes and uses, such as for example the reduction of the share capital, the distribution to employees, the exchange with shares of another company, the provision of security on loans, etc.
c. Upper/Lower price limit for share purchase
The lower price is set at 0.30 ? per share and the higher price is set at 3.00 ? per share. In case there is a change, for any reason, of the current nominal value of the shares, the upper and lower price limits determined under this decision will be adjusted on a pro-rata basis.
d. Time period for the exercise of the right to buy-back own shares
Determined at 24 months from the date this decision was reached.
e. Authorises the Board of Directors to settle all details related to the aforementioned program and to implement it, at its discretion, in total or partially.
8. The acceptance of the resignation from the Board of Directors of executive member Aikaterini Constantinou and her non-replacement based on article 9 of the Companys charter.
Chairman of the Board