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2017

07/06/2017

Decisions of the 2017 Annual Ordinary General Assembly.


Pursuant to the provisions of section 4.1.3.3 of the Regulation of the Athens Exchange, MOTOR OIL (HELLAS) S.A. hereby announces that the Annual Ordinary General Meeting was convened on June 7th, 2017 at 12:30 hours at Athens Plaza hotel, Syntagma Square with shareholders being present representing a percentage of 74.42% of the share capital.

 

All items on the daily agenda were approved.

 

Item 1: The yearly 2016 Financial Statements (stand alone and consolidated) along with the relevant reports of the Board of Directors and of the Auditors were approved.

Item 2: The members of the BoD and the Auditors were discharged from any liability for damages with regard to the yearly 2016 Financial Statements.

Item 3: A new Board was elected as follows: Mr. Vardis J. Vardinoyannis, Mr. John V. Vardinoyannis, Mr. John N. Kosmadakis, Mr. Petros T. Tzannetakis, Mr. Nikos Th. Vardinoyannis, Mr. George P. Alexandridis, Mr. Michael – Matheos J. Stiakakis, Mr. Theofanis Chr. Voutsaras, Ms Niki D. Stoufi, Mr. Antonios Th. Theocharis, Mr. Anastasios – Elias Chr. Triandaphyllidis. The latter two BoD members are non - executive independent. The organization of the BoD as a Body Corporate will take place shortly.

Item 4: The Audit Committee was appointed as follows: Mr. Antonios Th. Theocharis (Chairman), Mr. George P. Alexandridis (Member), Mr. Anastasios – Elias Chr. Triandaphyllidis (Member), Ms Niki D. Stoufi (Member).

Item 5: A dividend amount of Euro 0.90 per share for the fiscal year 2016 was approved. Considering that an amount of Euro 0.20 per share was paid as interim dividend on December 19, 2016 the dividend remainder for the fiscal year 2016 equals Euro 0.70 per share. The General Assembly approved the ex-date, record date and payment commencement date as follows: Ex-dividend remainder date: Monday June 26, 2017 – Record date: Tuesday June 27, 2017 (Company shareholders registered in the electronic files of the Dematerialized Securities System (S.A.T.) dated June 27, 2017 will be entitled to the dividend remainder) – Payment commencement date: Monday July 3, 2017. The payment of the year 2016 dividend remainder will be effected through a Payee Bank. The Company will provide details to the investment community in respect of the fiscal year 2016 dividend remainder payment with a subsequent announcement.

Item 6: Two Auditors, one ordinary and one substitute, were elected for the fiscal year 2017 and their fees were approved.

Item 7: The fees of the members of the Board of Directors for the fiscal year 2016 were approved and the respective fees for the fiscal year 2017 were pre-approved.

Item 8: The distribution of part of the fiscal 2016 Net Income of the Company to the personnel and to members of the BoD was approved and the relevant authorizations were granted.

Item 9: The share buy back program (maximum number of Company shares to be bought: 4,000,000, maximum price Euro 15 per share, minimum price Euro 5 per share, program duration: June 19, 2017 – May 31, 2019, through the Member of the ATHEX PIRAEUS SECURITIES) was approved and the authorisation to the Board for the procedural matters relating to the program was granted.

 

 

Maroussi, June 7th, 2017.

The Board of Directors

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