SPRIDER STORES S.A

RESOLUTIONS OF THE EXTRAORDINARY GENERAL MEETING OF THE SHAREHOLDERS

Halandri, October 29, 2012

 

The Extraordinary General Shareholders Meeting of SPRIDER STORES SA was held on Saturday, October 27, 2012, at the company's business headquarters in Halandri. A total of 9 shareholders were present, owning 16.567.777 shares out of 26,262,660 shares outstanding, representing 63.08% of the paid up share capital; therefore the General meeting was validly held in quorum regarding all agenda items. In specific, the General Meeting:

 

1. Approved the analysis of the company's current financial condition. Current market conditions have been described as  well as the actions of the company's management in order to tackle the uniquely adverse situation, namely restraining operational cost, rationalizing sales network and withdrawing from loss making activities . [Voted: 16.567.777 (100% of the shareholders presented), For: 16.567.777 (100%)].

2. Approved the election of a new Board of Directors, as follows:

Vasileios Lambros Karellas, Executive Member

Nikolaos Socrates Varsamis, Independent non-Executive Member

Grigorios Savvas Orailidis, Independent non-Executive Member

Chrisanthi Theodoros Simpiridou, Independent non-Executive Member

Dimitrios Vasileios Meimaroglou, Independent non-Executive Member

The Board's term is for six years and matures on 27/10/2018.

Moreover the Company's Audit Committee consists of the following members:

  • Dimitrios Vasileios Meimaroglou, Independent non-Executive Member
  • Nikolaos Socrates Varsamis, Independent non-Executive Member
  • Grigorios Savvas Orailidis, Independent non-Executive Member

[Voted: 16.567.777 (100% of the shareholders presented), For: 16.552.222 (99,91%), Against: 15.555 (0.09%].

3. Approved the amendment of article 2 (headquarters) of the company's Articles of Association and a related change to the company's headquarters. Specifically, the municipality of Thessalonica, prefecture of Thessalonica (2, Irodou Attikou street PO BOX 54625) is set as the new business headquarters. [Voted: 16.567.777 (100% of the shareholders presented), For: 16.567.777 (100%)].