The Annual General Meeting of the Shareholders of "SIDENOR, STEEL PRODUCTS MANUFACTURING COMPANY, S.A.", was held at ATHENS IMPERIAL HOTEL, Karaiskaki Sq., Athens, on Tuesday, June 10, 2008 at 12:30 hours, pursuant to the pertinent notice of the Company's Board of Directors, dated May 16, 2008.
The General Meeting, with a total number of shares represented 58.786.992, out of 96.129.491 (thus 61.15%) (45 shareholders present), approved the Company's Annual Financial Statements for the financial year 2007, together with the Board's and the Auditors' Reports on them and also decided to discharge the members of the Board and the Auditors from all liability for damages, concerning the financial year 2007. Then, the General Meeting approved the distribution of the profits for the year 2007.
Moreover, it was decided that the beneficiaries of the dividend of EURO 0,25 per share would be the shareholders of the Company after the closing of the A.S.E. on 25/06/2008. From 26/06/2008, the Company's shares will be negotiated without the right on the 2007 dividend. The payment of the dividend will be made through the network of the ALPHA BANK branches, starting on July 3, 2008, until the end of the year.
Then the General Meeting elected as auditors for the financial year 2008 the audit firm "PriceWaterHouseCoopers", their remuneration to be fixed following their pertinent offer.
Also the General Meeting approved as members of the new Board of Directors, the following
1. George Kalfarentzos
2. Nikolaos Koudounis
3. Efstathios Striber, independent member
4. George Passas
5. Ioannis Oikonomou
6. Athanassios Mitropoulos
7. Sarados Milios
8. Dimitrios Paraskevopoulos
9. Andreas Kyriazis, independent member
The term of office of the above Board members will start on the day after their election and it will terminate at the date of the A.G.M. of the year 2009.
The General Meeting also approved the amounts to be paid to the Board members as remuneration.
Following, the General Meeting approved the conversion of the Company's total outstanding shares to registered in order to allow for best monitoring of the Company's shareholders rights via the shareholders list, as well as the subsequent amendment of Article 7 of the Company's Articles of Association.
Finally, regarding the 9th item of the daily agenda ''Issue of a common Bond loan'', for which there is a 2/3 quorum requirement of the company's total share capital so as to take decision according to the Company's Articles of Association, the General Meeting approved of the proposition to include this item to the daily agenda of a Repeat General Meeting to take place on Thursday June 26, 2008 at 11:30 a.m. at the same location pursuant to the already published invitation of the Ordinary General Shareholders Meeting.