According to CMC decision 5/204/14.11.2000, the Company announces that the Annual Ordinary General Meeting was convened on June 1, 2004 at 12.30 hours at Athens Plaza hotel, Syntagma Square and apart from the typical matters (approval of the parent company and of the consolidated accounting financial statements of the fiscal year 2003, discharge of the Board of Directors and of the Auditors, election of Chartered Auditors for the fiscal year 2004 and approval of their fees, approval of payment of fees to the members of the Board of Directors, announcement of the registry of shareholders from whom the own shares of the Company were acquired in the process of the previous buy back program which terminated on 19.2.2004) it decided the following:
1.The payment of a dividend amount of 50 eurocents per share for the fiscal year 2003. Eligible to receive the amount of dividend are the shareholders on record on June 1, 2004. As of June 2, 2004, the shares of the Company are traded on the ASE ex-dividend. It is reminded that on 19.12.2003 the Company paid an amount of 20 eurocents per share as interim dividend. The first dividend payment date will be announced shortly.
2.The election of the new Board of Directors of the Company as follows:
Vardis J. Vardinoyannis, Abdulhakim A.Al-Gouhi, Panagiotis N. Kontaxis, George P.Alexandridis, John N. Kosmadakis, Petros T. Tzannetakis, Majid Y. Al–Mugla, Jamal A. Al–Rammah, Ali A. Al Muhareb, Abdullah Mohammed Al Warthan, Leonidas K. Georgopoulos, Ali A.S.Al-Ghamdi. The latter two BoD members are non – executive independent.The organization of the BoD as a Body Corporate will take place shortly.
3.The new share buy back program, according to article 16 par. 5 of the C.L 2190/1920, for up to 1,107,800 shares of the Company. The minimum purchase price per share was set at € 5.0 and the maximum price per share at € 10.3. The purchases will be effected within 12 months from the date of the AGM decision.
4.The issuance of a Bond Loan, according to article 6 of Law 3156/2003, for an amount of € 250 – 275 million for the financing needs of the 2003–2005 investment program of the Company. The duration of the loan will be 7 years with an option to be extended for a further 2 year period. The Arrangers of the loan are the banks CITIBANK, NATIONAL BANK OF GREECE and ALPHA BANK. The Board of Directors of the Company were authorised to negotiate the specific terms with the banking institutions and attend to the procedural matters relating to the issuance of the loan.
