Today, Monday, 24th of November 2014, the Extraordinary General Shareholders Meeting of ELVAL - HELLENIC ALUMINIUM INDUSTRY S.A. took place at the “PRESIDENT” hotel, during which, the shareholders discussed and approved all the items of the General Meetings agenda.

 More specifically, the Draft Merger Agreement through absorption of the company “ETEM S.A, LIGHT METALS COMPANY SOCIETE ANONYME” by the company “ELVAL - HELLENIC ALUMINIUM  INDUSTRY S.A.”, dated  1/10/2014, the Explanatory Report of the Board of Directors on the above Draft Merger Agreement  and the Report of the Board of Directors, according to  art. 4.1.4.1.3 of the Athens Exchange Regulation, the Report of the audit firm “ABACUS AUDITORS S.A.”, according to  art. 71 of C.L. 2190/1920, in order to ascertain the book value of the companies to be merged, the reports of the audit firms “RSM Greece S.A.” and “Deloitte Business Solutions Hadzipavlou Sofianos & Kambanis S.A.” for the estimation of the value of the companies to be merged, according to  art. 4.1.4.1.3 of the Athens Exchange Regulation and the merger of the companies as above, were approved. According to the Draft Merger, ETEM shareholders shall exchange six ETEM shares for one, new ELVAL share, while ELVAL shareholders shall maintain the same number of shares they hold. Based on this exchange ratio, 1,461,447 new shares shall be issued.

 Also, the increase of the Companys share capital, following the absorption of the company “ETEM S.A, LIGHT METALS COMPANY SOCIETE ANONYME” through capitalization of reserves , increasing the nominal value of the shares, from Euro 0.30 to Euro 0.32 and the issue of new shares as well as the amendment of the pertinent art. 5 of the companys Articles of Association, were approved. Furthermore, the authorization of Mr. Dimitrios Kyriakopoulos, Vice Chairman of the Companys Board of Directors, to sign any document relating to the merger, was approved, as well as the Board of Directors, for the settling, at its own discretion, of any non-integer rights, which might arise, during the exchange of shares, as described above, according to the legislation in force.

 Finally, Mr. Stavros Voloudakis election, on 29/10/14, as an executive member of the Companys Board of Directors, was approved, as well as the appointment of Mr. Konstantinos Bakouris, a non-executive member of the Companys Board of Directors, to the Audit Committee, according to art. 37 of L 3693/2008, replacing the deceased Abraham Meyir.