ALTEC HOLDINGS S.A. IT AND COMMUNICATION SYSTEMS
Resolutions of the Annual Ordinary General Meeting of Altec SA
During the Ordinary General Meeting of the Shareholders of the company, which was held today 27/06/2008, there were shareholders, representing a percentage of 39.035 % of the share capital (39,172,491 shares with voting rights out of 100,353,000 total shares) and all topics listed in the agenda were discussed, as it was announced by the BoD invitation on 4/06/2008.
The meeting decided and unanimously approved all the agenda issues as follows:
1. Approved the Annual Financial Statements (parent company and consolidated) of the financial year (01/01/2007-31/12/2007) and the relevant reports of the Board of Directors and the Certified Auditor. Concerning the fiscal year 2007 no dividend will be paid.
2. Approved the discharge of the Board of Directors and the Auditors from all responsibility of indemnification in relation to the financial year 2007.
3. Approved the election of Georgios Batsoulis (AMSOEL 14001) as regular and Stavros Papantonis (AMSOEL 14331) as substitute Certified Auditors from the company "BDO Protypos Hellenic Auditing SA" for the fiscal year 1/1/2008-31/12/2008 and determined their remuneration.
4. Preapproved the remunerations of the Board of Directors members for the financial year 2008.
5. Approved and authorized the contracting or command between the company and the members of the Board of Directors, determining the maximum limit of their remuneration, as well as the contracting of franchising agreements between affiliated companies and the members of Board of Directors of the company, spouses and the relatives' persons.
6. Approved the extension of the Company's scope and it added the capability for certifying knowledge of third persons on the products and services Altec SA, as well as the publication and provision of relative certificates. The addition in the scope of company of above-mentioned activity will not affect the financial situation of the company and will not result in important increases of profitability or its turnover. Finally, it modified the article of 3 of the scope of the Company.
7. Approved the changes, additions and amendments of the Articles of Association of the Company in relation to the adjustments such to the Codified Law 2190/1920 (following its amendment by law 3604/2007).
The last topic of the Agenda which was referring to the issuance of stock option plan to the BoD members, to the company's and affiliate companies personnel, the General Meeting did not vote, because there was not enough quorum according to the article 13 par. 13 of Law 2190/1920 in order to come to a decision for the specific topic.
The meeting decided and unanimously approved all the agenda issues as follows:
1. Approved the Annual Financial Statements (parent company and consolidated) of the financial year (01/01/2007-31/12/2007) and the relevant reports of the Board of Directors and the Certified Auditor. Concerning the fiscal year 2007 no dividend will be paid.
2. Approved the discharge of the Board of Directors and the Auditors from all responsibility of indemnification in relation to the financial year 2007.
3. Approved the election of Georgios Batsoulis (AMSOEL 14001) as regular and Stavros Papantonis (AMSOEL 14331) as substitute Certified Auditors from the company "BDO Protypos Hellenic Auditing SA" for the fiscal year 1/1/2008-31/12/2008 and determined their remuneration.
4. Preapproved the remunerations of the Board of Directors members for the financial year 2008.
5. Approved and authorized the contracting or command between the company and the members of the Board of Directors, determining the maximum limit of their remuneration, as well as the contracting of franchising agreements between affiliated companies and the members of Board of Directors of the company, spouses and the relatives' persons.
6. Approved the extension of the Company's scope and it added the capability for certifying knowledge of third persons on the products and services Altec SA, as well as the publication and provision of relative certificates. The addition in the scope of company of above-mentioned activity will not affect the financial situation of the company and will not result in important increases of profitability or its turnover. Finally, it modified the article of 3 of the scope of the Company.
7. Approved the changes, additions and amendments of the Articles of Association of the Company in relation to the adjustments such to the Codified Law 2190/1920 (following its amendment by law 3604/2007).
The last topic of the Agenda which was referring to the issuance of stock option plan to the BoD members, to the company's and affiliate companies personnel, the General Meeting did not vote, because there was not enough quorum according to the article 13 par. 13 of Law 2190/1920 in order to come to a decision for the specific topic.