"ELVAL S.A. – HELLENIC ALUMINIUM INDUSTRY S.A.” announces that on Monday, 24th of November 2014, at 10:00 hours, the Extraordinary General Meeting of the Company's shareholders was held at the “PRESIDENT” Hotel at 43 Kifissias Avenue, Athens. Fourteen (14) shareholders representing 93,922,665 shares of the total of 124,100,815, i.e. 75.68% of the share capital, attended the meeting.

 On the topics of the General Meeting the shareholders decided the following:

1. The Approval of a) 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 on 1/10/2014,  b) the Explanatory Report of the Board of Directors on the Draft Merger Agreement, as above and the Report of Board of Directors, according to the Article 4.1.4.1.3 of the Athens Exchange Regulation, c) the Report of the Audit Firm “ABACUS AUDITORS S.A.” according to the Article 71 of C.L. 2190/1920, in order to ascertain the book value of the companies to be merged , d) 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 the article 4.1.4.1.3 of the Athens Exchange Regulation and e) the merger of the companies, as above. (Votes: 93,922,665 (i.e. 100% of attending votes), votes for 93,922,665 (i.e. 100.00% of attending votes)).

2. To increase the Company's share capital, following the absorption of the company “ETEM S.A, LIGHT METALS COMPANY SOCIETE ANONYME” and capitalization of reserves - To increase the nominal value of the shares and issue of new shares - To amend the pertinent article 5 of the company's Articles of Association. (Votes: 93,922,665 (i.e. 100% of attending votes), votes for 93,922,665 (i.e. 100.00% of attending votes)).

3. The authorization, to sign any document relating to the merger, of Mr. Dimitrios Kyriakopoulos, Vice Chairman of the Company's Board of Directors, as well as to the Board of Directors, to settle at its own discretion, any non -integer rights that may arise, following the exchange of shares, as above (Votes: 93,922,665 (i.e. 100% of attending votes), votes for 93,922,665 (i.e. 100.00% of attending votes)).

4. The approval of Mr. Stavros Voloudakis's  election, as executive member of the Company's Board of Directorsto replace the deceased Abraam Meyir. (Votes: 93,922,665 (i.e. 100% of attending votes), votes for 93,895,891 (i.e. 99.97% of attending votes), votes against 26,774 (i.e. 0.03% of attending votes)).

5. The election of Mr. Konstantinos Bakouris, non-executive member of the Company's Board of Directors, as new member of the Audit Committee according to the Article 37 of L 3693/2008to replace the deceased Abraham Meyir. (Votes: 93,922,665 (i.e. 100% of attending votes), votes for 93,922,665 (i.e. 100.00% of attending votes))