The company Forthnet (or the "Company") announces that the Ordinary General Meeting of shareholders took place on Friday the 13th.6.2008 at it's registered seat at the Municipality of Heraklion of Crete (Foundation for Research and Technology, area Vassilika Voutes) and at 12:30pm, where the following resolutions on the items of the agenda were discussed and taken. During the General Meeting present were twenty one (21) shareholders representing 45.08% of the paid-up share capital corresponding to 17,518,895 shares with voting right out of the total 38,857,831, and therefore the required quorum provided for by Law for taking resolutions on all the items of the agenda was met.
Specifically,
- As per the 1st item on the agenda the General Meeting approved the financial statements (Parent Company and Consolidated) for the Financial Year 1/1/2007 till 31/12/2007 accompanied by the reports of the Board of Directors and Auditors of the company with regard to the actions during the financial year 2007 and resolved not to distribute dividends.
- As per the 2nd item on the agenda the General Meeting discharged the Members of the Board of Directors and the Auditors from any liability for damages with regard to the Financial Statements and administrative actions during the financial year 2007 (1/1/2007 till 31/12/2007).
- As per the 3rd item on the agenda the General Meeting elected the auditing companies "Ernst & Young (Hellas) Certified Auditors Accountants S.A." with Ordinary Auditor Mr. Christos Pelentridis and Deputy Auditor Mr. Andreou Savva and "SOL -Certified Auditors S.A" with Ordinary Auditor, Mr. Stavro Salustro and Deputy Auditor Mr. Spiros Buntas in order to undertake jointly the ordinary audit of the financial statements (Parent Company and Consolidated) of the financial year 2008, and approved their remuneration.
- As per the 4th item on the agenda, the General Meeting approved the compensation and benefits paid to the executive and non executive Members of the BoD during the year 2007 and determined their compensation and benefits for the year 2008.
- As per the 5th item on the agenda, the General Meeting resolved the harmonisation of the Articles of Association of the company with the new provision of the C.Law 2190/1920, after it's amendment by the Law 3604/2007.
- As per the 6th item on the agenda the General Meeting has been informed that, no own-shares were bought-back on the basis of the relevant decision of the Ordinary General Meeting of Shareholders of 22th.6.2007 and approved the option to buy-back up to 3,885,783 own shares corresponding to 10% of the paid-up share capital, at a price per share ranging between euro 0.30 (minimum) and euro 15 (maximum). The total duration of buy-back programme is set to twenty four months while the Board of Directors has been authorized to determine by its' decision the partial periods of purchases.
- As per the 7th item on the agenda no other announcements have been made.