During the Annual Ordinary General Meeting of the company's shareholders, which took place on Thursday 15 May 2008 12:30am, at the KG Ballroom class III in the hotel King George, Syntagma Square, Athens, wherein 67 shareholders representing 31,467,409 shares, namely, an approximate 60,57% percentage of the Company's share capital paid up, decisions on all the issues of the agenda were taken by legal vote, as follows:
1.The Individual and Consolidated Financial statements of the previous year, namely, from 01.01.2007 to 31.12.2007, as well as the relevant reports of the Board of Directors and the Chartered Auditors were approved by absolute majority, namely by 31,441,234 votes of the shareholders representing 60,52% of the share capital paid up.
2.The payment of a dividend of 0,50 euro per share originating from the profits of financial year 2007 was approved unanimously namely by 31,467,409 votes of the shareholders representing 60,57% of the share capital paid up. Such dividend shall be clipped on 19.05.08 and shall be paid from 27.05.08, pursuant to the Regulations of the Athens Stock Exchange.
3.Following the voting of the Balance Sheet, the General Meeting discharged unanimously the Board of Directors and the Auditors from any compensation liability with regard to the activities carried out and the management in general in connection with the financial year from 01.01.2007 to 31.12.2007, namely by 31,467,409 votes of the shareholders representing 60.57% of the share capital paid up.
4.Following that, was elected as regular chartered auditor Mr. Paul Stellakis, son of Lambros, (Association of Chartered Auditors no.24941) member of Auditing Company GRANT THORNTON S.A and as deputy chartered auditor member Mr.Vasilios Kazas, son of Constantine (Association of Chartered Auditors no.13281) of the same Auditing Company as above, who were approved by absolute majority, namely, by 30,608,388 votes of the shareholders representing 58,92% of the share capital while their fee was approved also.
5.The fees of the members of the Board of Directors for financial year 2007 pursuant to articles 23a and 24 of Law 2190/1920 were approved unanimously, namely by 31,467,409 votes of the shareholders representing 60.57% of the share capital paid up, while their fees for the current financial year were approved in advance increased by the percentage of 4% compared to the fees of the previous financial year.
6.It was also approved the Election of a new member of the Board of Directors, in replacement of the resigned one, which shall manage the Company until the convocation of the General Meeting of Shareholders, which shall approve the activities of the year from 01.01.2011 to 31.12.2011, by absolute majority by 30,608,388 votes of the shareholders representing 58.92% of the share capital paid up.
7.Finally, the company's activity and development were also presented at the General Meeting by Mr. Paul Smith, Director of Marketing Strategy and Planning. In addition, Mr. Ioannis Mytilinaios, the President of the Board of Directors, stressed on the internationalization of the company's activity, which was the major characteristic of the conclusions from Management activities during the accounting period of 2007, given that the company's industrial activity in 2007 consisted of exports at a percentage of 90%, while activities in the field of projects regarded projects outside Greece at a percentage of 45%. Internationalized activity is bound to develop further in the next 2-3 years. Moreover, the President announced that the Management set as a ten-year long objective (at the end of 2009) the 10-fold increase of turnover at 500-600 million EURO and the14-fold increase of EBIDTA at 82-100 EURO. He also mentioned when MYTILINAIOS GROUP carried out METKA's take over in 1999, the accounting period of this year closed with a turnover of 56 million EURO and an EBIDTA of 7 million EURO. Moreover, the President stated that, for the accounting period of 2007, the participation of projects with Public Power Corporation as a client in the branch of Industrial activity amounted to a percentage of 3% compared to 70%, which was the average of the previous years, and that the participation of projects with Public Power Corporation as a client in the branch of Projects amounted to a percentage of 25% compared to the previous years' average of 60%.