The company ELEFTERI TILEORASI S.A. (ALTER CHANNEL) announces that its annual General Assembly was convened on the 27th of June 2008, Friday, at 15.00 p.m., at the company's registered seat, 36-38 Ag. Paraskevis st., Municipality of Peristeri. To the said General Assembly seven (7) shareholders were present, representing percentage 77,286% of the paid share capital, namely 6.182.880 shares and votes of the total 8.000.000 shares and decided upon and approved unanimously and with unanimity of votes on the following issues of the agenda.
More specifically:
1. With votes, namely 100% of the present shareholders they approved the annual financial statements, for the fiscal year 1/1/2007-31/12/2007, written according to the International Financial Reporting Standards (IFRS), as well as of the relevant reports of BoD and of the Auditor.
2. With 6.182.880 votes, namely 100% of the present shareholders they decided that for the fiscal year 1/1/2007-31/12/2007 no dividend shall be distributed, due to accrued losses from previous fiscal years.
3. With 6.182.880 votes, namely 100% of the present shareholders they approved the discharge of the BoD members and of the Auditor for liability, concerning the annual financial statements and the transactions of the fiscal year 1/1/2007-31/12/2007.
4. With 6.182.880 votes, namely 100% of the present shareholders regular auditor Mr. M. Kappous R.N. 13361 (Body of sworn auditors) and substitute auditor Mr. G. Vrettos R.N. 15651 (Body of sworn auditors) were elected for the auditing of the fiscal year 1/1/2008-31/12/2008 they also determined their remuneration according to the supervising council of the Body of sworn auditors.
5. With 6.182.880 votes, namely 100% of the present shareholders they approved the BoD members? remuneration for the fiscal year 1/1/2007-31/12/2007 and pre-approved their remuneration for the accounting period 1/1/2008-30/06/2009.
6. With 6.182.880 votes, namely 100% of the present shareholders they approved the conclusion of contracts with founders, BoD members and other persons stated in art. 23a of the law 2190/20.
7. With 6.182.880 votes, namely 100% of the present shareholders they approved, according to art. 23a par. 4 of the law 2190/20, the concluded lease contract, between ELEFTERI TILEORASI S.A. and the company Press Hellas Elliniki Ekdotiki & Tipografiki S.A.
8. With 6.182.880 votes, namely 100% of the present shareholders they approved the BoD members? salary, for duties beyond those assumed as BoD members, on the basis of employment contracts, according to art. 23a par. 2 and 24 par. 3 of the law 2190/20.
9. With 6.182.880 votes, namely 100% of the present shareholders they elected the new Board of Directors, consisting of the same directors as of the existing Board of directors, namely a) Konstantinos Giannikos, b) Andreas Kouris, c) George Kouris, d) Vasilios Kosmopoulos, e) Hrisavgi Pehlivanidou, f) Emmanouil Xenakis-Valletas and g) Anna Kontodimou. They appointed as independent non-executive members Mrs. Anna Kontodimou and Mr. Emmanouil Xenakis-Valletas. The BoD term of office is set to five (5) years.
10. With 6.182.880 votes, namely 100% of the present shareholders they approved the revocation of the decision for the issuance of Ordinary Bond Loan up to the amount of 60.000.000 Euros, as taken on the 7-4-2006 by the company's extraordinary general assembly and decided unanimously for the issuance of an Ordinary Bond Loan up to the amount of 100.000.000 Euros; furthermore they decided to authorise the BoD for the specification of the terms, the issuance of Program, the conclusion of the contract with the Representative and the undertaking of any act necessary for the completion of the issuance.
11. With 6.182.880 votes, namely 100% of the present shareholders they approved the adjustment and harmonization of the company's by-laws in compliance with Law 3604/2007, which amended law 2190/20. Specifically, they decided the amendment of art. 6 (capital increase), of art. 7 (shares-shareholders), of art. 11 (minority rights), of art. 12 (BoD composition-term), of art. 15 (substitution of BoD member), of art. 16 (BoD convocation), of art. 18 (BoD minutes), of art. 19 (remuneration of BoD members), of art. 20 (non-competition clause), of art. 21 (General Assembly competence), of art. 22 (General Assembly convocation), of art. 23 (invitation-General Assembly agenda), of art. 24 (share deposit-representation), of art. 26 (regular quorum and majority), of art. 27 (extraordinary quorum and majority), of art. 29 (discussion issues-General Assembly minutes), of art. 33 (annual financial statements and publication), of art. 34 (profit distribution), of art. 35 (company's dissolution), of art. 36 (liquidation).
12. With 6.182.880 votes, namely 100% of the present shareholders they approved the amendment of art. 4 of company's by-laws, concerning the term of the company, which is extended for another 50 years, namely until 31/12/2060.
13. With 6.182.880 votes, namely 100% of the present shareholders they approved the amendment of art. 7 (shares-shareholders), of art. 13 (BoD competence) and of art. 21 (General Assembly competence) of company's by-laws in compliance with Law 3156/2003 (regarding bond loans).
14. With 6.182.880 votes, namely 100% of the present shareholders they decided to make use of the company's possibility, provided by art. 18 of the Law 3556/2007 ?Transparency qualifications for information on publishers whose shares have been listed in the stock exchange market, concerning electronic information dispatch towards shareholders.
15. With 6.182.880 votes, namely 100% of the present shareholders they authorized, according to art. 23 par. 1 of the Law 2190/20, the participation of the BoD members as well as of the chief executive officers as members in the BoD or the management of other companies pursuing similar business activities.
16. With 6.182.880 votes, namely 100% of the present shareholders they authorized the President and the Secretary of the General Assembly to sign and validate the minutes.
17. No other subjects were discussed or announcements were made.