FOLLI FOLLIE S.A.
Annual Ordinary General Assembly of the Company's Shareholders
The Company announces that the Annual Ordinary General Assembly of the Shareholders that took place on May 30, 2008, with a quorum of 74.7% (39,343,452 shares out of a total of 52,675,000 shares) decided unanimously (other than items 5 and 6, which were decided by majority) on the following items:
1. Approved the annual financial statements for the fiscal year 01.01.2007 - 31.12.2007.
2. Approved the appropriation of profits after tax for the fiscal year 01.01.2007 - 31.12.2007, as well as the distribution of dividend of euro 0.66 per share. Eligible for the dividend are the shareholders of the Company at the end of the Athens Stock Exchange trading session of 17.06.2008. The payment of the dividend will commence on the 26.06.2008 through the branch network of PIRAEUS BANK.
3. Approved the discharge from any liability of the Board of Directors and the Chartered Auditors for the fiscal year 01.01.2007 - 31.12.2007.
4. Georgios I. Varthalitis was elected as regular Chartered Auditor and Chrysoula G. Tsakalogianni was elected as substitute Chartered Auditor for the fiscal year 01.01.2008 - 31.12.2008.
5. Approved the amendment of articles 6, 8, 9 and 10 of the Company's Articles of Incorporation and in particular:
Article 6 Capital increases The General Meeting is provided with the authority to authorise the BoD regarding specific matters of capital increases and corporate bond issues.
Article 8 BoD authority The BoD is provided with the authority to issue and determine the terms of corporate bond loans of the Law 3156/2003 other than the issue of a convertible bond or a corporate bond with the right of participation in profits.
Article 9 BoD election and composition The procedure in case of appointing a temporary member of the BoD in replacement of a resigned-one is specified more particularly.
Article 10 BoD operation Matters of BoD operation are regulated such as meetings via teleconferencing. Additionally, certain provisions of the Company's Articles of Incorporation are amended, deleted and renumbered in order to comply with the provisions of Law 2190/1920 on Societes Anonymes.
6. Ratified the appointment of Mr. Elissaios Εfstratios as an Executive member of the BoD in replacement of the resigned BoD Member Mr. Dionisios Fragos.
7. Approved the remuneration and compensation for the members of the Board of Directors for the fiscal year 01.01.2007 - 31.12.2007, and pre-approved the same remuneration and compensation for the members of the Board of Directors for the fiscal year 01.01.2008 - 31.12.2008.
In total 30 shareholders voted and approximately 70 institutional investors, journalists and other observers participated in the Company's Annual Ordinary General Assembly.
1. Approved the annual financial statements for the fiscal year 01.01.2007 - 31.12.2007.
2. Approved the appropriation of profits after tax for the fiscal year 01.01.2007 - 31.12.2007, as well as the distribution of dividend of euro 0.66 per share. Eligible for the dividend are the shareholders of the Company at the end of the Athens Stock Exchange trading session of 17.06.2008. The payment of the dividend will commence on the 26.06.2008 through the branch network of PIRAEUS BANK.
3. Approved the discharge from any liability of the Board of Directors and the Chartered Auditors for the fiscal year 01.01.2007 - 31.12.2007.
4. Georgios I. Varthalitis was elected as regular Chartered Auditor and Chrysoula G. Tsakalogianni was elected as substitute Chartered Auditor for the fiscal year 01.01.2008 - 31.12.2008.
5. Approved the amendment of articles 6, 8, 9 and 10 of the Company's Articles of Incorporation and in particular:
Article 6 Capital increases The General Meeting is provided with the authority to authorise the BoD regarding specific matters of capital increases and corporate bond issues.
Article 8 BoD authority The BoD is provided with the authority to issue and determine the terms of corporate bond loans of the Law 3156/2003 other than the issue of a convertible bond or a corporate bond with the right of participation in profits.
Article 9 BoD election and composition The procedure in case of appointing a temporary member of the BoD in replacement of a resigned-one is specified more particularly.
Article 10 BoD operation Matters of BoD operation are regulated such as meetings via teleconferencing. Additionally, certain provisions of the Company's Articles of Incorporation are amended, deleted and renumbered in order to comply with the provisions of Law 2190/1920 on Societes Anonymes.
6. Ratified the appointment of Mr. Elissaios Εfstratios as an Executive member of the BoD in replacement of the resigned BoD Member Mr. Dionisios Fragos.
7. Approved the remuneration and compensation for the members of the Board of Directors for the fiscal year 01.01.2007 - 31.12.2007, and pre-approved the same remuneration and compensation for the members of the Board of Directors for the fiscal year 01.01.2008 - 31.12.2008.
In total 30 shareholders voted and approximately 70 institutional investors, journalists and other observers participated in the Company's Annual Ordinary General Assembly.