F.G. EUROPE S.A.
Decisions of General Shareholder Meeting
In accordance with article 4.1.3.3 of the Athens Exchange Rulebook it is hereby announced:
Annual General Assembly of Shareholders convened today Wednesday, May 18, 2011, with the participation of seven (9) shareholders, duly representing 73.87% of the Company's total Share Capital, and resolved as follows:
1. Company and Consolidated financial statements for the fiscal year 2010 (01/01/20010 to 31/12/2010) were unanimously approved.
2. The non-distribution of dividends to the Company's shareholders for the fiscal year 2010 and the transfer of the balance of the account "Profit" of year 2010, amounting to Euro 3,96 mil. in the account "Retained Earnings" were unanimously approved, to further strengthen shareholders' equity.
3. Members of the Board of Directors and the Certified Auditors - Accountants were exempt from any liability for the fiscal year 2010 (01/01/2010 to 31/12/2010).
4. A new Board for a term of two years was elected by the General Assembly as follows:
Executive Members: Georgios Fidakis, son of Athanassios, Ioannis Pantousis, son of Dimitrios and Andreas - Fotios Demenagas, son of Konstantinos, and
Independent Non-Executive Members:
Georgios Stroggylopoulos, son of Athanassios, Ioannis Katsoulakos, son of Socrates, Spyros Lioukas, son of Konstantinos and Nikolaos Pimblis, son of Evarestos.
5. The already disbursed for fiscal year 2010 remuneration fees of the independent non-executive members of the Board were approved and the respective remuneration fees for the fiscal year 2011 were pre-approved.
6. Mr. Ioannis Katsoulakos, Spyros Lioukas and Georgios Stroggylopoulos were elected as new members of the Audit Committee, in accordance with article 37, Law 3693/2008.
7. Permission was granted, in accordance with article 23, Codified Law 2190/1920, to establish contract agreements between the Company and Members of the Board, or between the Company and companies related to the Members of the Board
8. Permission to the Members of the Board of Directors and to the Company's Management was granted to participate as Members of the Board of Directors in or as Management in other companies of similar business scope, in accordance with article 23, paragraph 1, of Codified Law 2190/1920.
9. ERNST & YOUNG S.A. was elected as Certified Auditors of the Company for the financial statements, Company and Consolidated, for the fiscal year 2011 (01/01/2011 to 31/12/2011).
10. Approved the existing contracts between the Company and affiliated or related companies.
Finally, extended mention was also made to the large increase in exports of the Company in the quarter, and the satisfactory performance of the Company in the Greek market, events which, despite the crisis, create optimism for the future. In the energy sector as already mentioned, R.F. Energy S.A. expects the approval of the remaining production licenses, so that the big wind project in Evia can proceed.
Annual General Assembly of Shareholders convened today Wednesday, May 18, 2011, with the participation of seven (9) shareholders, duly representing 73.87% of the Company's total Share Capital, and resolved as follows:
1. Company and Consolidated financial statements for the fiscal year 2010 (01/01/20010 to 31/12/2010) were unanimously approved.
2. The non-distribution of dividends to the Company's shareholders for the fiscal year 2010 and the transfer of the balance of the account "Profit" of year 2010, amounting to Euro 3,96 mil. in the account "Retained Earnings" were unanimously approved, to further strengthen shareholders' equity.
3. Members of the Board of Directors and the Certified Auditors - Accountants were exempt from any liability for the fiscal year 2010 (01/01/2010 to 31/12/2010).
4. A new Board for a term of two years was elected by the General Assembly as follows:
Executive Members: Georgios Fidakis, son of Athanassios, Ioannis Pantousis, son of Dimitrios and Andreas - Fotios Demenagas, son of Konstantinos, and
Independent Non-Executive Members:
Georgios Stroggylopoulos, son of Athanassios, Ioannis Katsoulakos, son of Socrates, Spyros Lioukas, son of Konstantinos and Nikolaos Pimblis, son of Evarestos.
5. The already disbursed for fiscal year 2010 remuneration fees of the independent non-executive members of the Board were approved and the respective remuneration fees for the fiscal year 2011 were pre-approved.
6. Mr. Ioannis Katsoulakos, Spyros Lioukas and Georgios Stroggylopoulos were elected as new members of the Audit Committee, in accordance with article 37, Law 3693/2008.
7. Permission was granted, in accordance with article 23, Codified Law 2190/1920, to establish contract agreements between the Company and Members of the Board, or between the Company and companies related to the Members of the Board
8. Permission to the Members of the Board of Directors and to the Company's Management was granted to participate as Members of the Board of Directors in or as Management in other companies of similar business scope, in accordance with article 23, paragraph 1, of Codified Law 2190/1920.
9. ERNST & YOUNG S.A. was elected as Certified Auditors of the Company for the financial statements, Company and Consolidated, for the fiscal year 2011 (01/01/2011 to 31/12/2011).
10. Approved the existing contracts between the Company and affiliated or related companies.
Finally, extended mention was also made to the large increase in exports of the Company in the quarter, and the satisfactory performance of the Company in the Greek market, events which, despite the crisis, create optimism for the future. In the energy sector as already mentioned, R.F. Energy S.A. expects the approval of the remaining production licenses, so that the big wind project in Evia can proceed.