The Repeating Extraordinary General Assembly of the shareholders, holders of preferred shares, of MICHANIKI SA, took place on July 10th at 15:00 at the company's offices with quorum of 35% where 7 shareholders (persons and legal entities) were legally appeared or represented. The General Assembly approved solidly the only issue of the agenda and the resolution of the General Assembly of the 22nd of June of the Shareholders, holders of common shares and decided to proceed to the purchase of its own shares, preferred and common, through the Athens Stock Exchange. It was also determined:
a. the maximum number of shares to be bought
- Up to 9% of the of 66,937,526 of the total common shares
- Up to 9% of the 25,968,987 of the total preferred shares
b. the maximum purchase value of the common share was decided to 15,00 euro and of the preferred share to 12,00 euro. The minimum purchase value for the common share was decided for 5,00euro whereas for the preferred share 4,00 euro and
c. the time frame within which the abovementioned buyback program will take place, will be 12 months from the date when the aforementioned General Assembly (22.06.2007) of the shareholders has approved this resolution.
Furthermore, the General Assembly conferred power of attorney on the Board of Directors in order to proceed to the observance of any law enouncements and to the determination of any necessary procedural condition, according the law, for the implementation of the abovementioned decision.