According to the provisions of Decision No. 5/204 by the Hellenic Capital Market Commission, GERMANOS SA is announcing the reconstitution of its Board of Directors and the change in the company;s representation. Based on a unanimous decision by the Board of Directors on November 8th 2006, the Company'''' Board of Directors was reconstituted. Following this reconstitution, Messieurs Panos Germanos, Christos Germanos and Christos Kartalis no longer serve as executive members and remain at their positions as BoD Chairman and non-executive member, BoD Vice-Chairman and non-executive member and non-executive BoD member, respectively. Subsequent to this reconstitution, the Board of Directors composition for its remaining term, namely until 30-6-2009, is as follows:
1. Panos Germanos - BoD Chairman and non-executive member
2. Christos Germanos - BoD Vice-Chairman and non-executive member
3. Ioannis Karagiannis - Chief Executive Officer and executive member
4. Loukas Petkidis - Executive member
5. Christos Kartalis - Non-executive member
6. Aggelos Plakopitas - Independent non-executive member
7.Dimitris Goumas - Independent non-executive member
8. Theodosis Boundourakis - Independent non-executive member
The Company''''s representation, judicial and extrajudicial, is appointed to the Chief Executive Officer Mr. Ioannis Karagiannis, who binds the Company for any action, deed and contract that pertains to the company objective and the responsibility of the Board of Directors and up to the amount of Euro 1,000,000 for capital investments and up to Euro 500,000 for operating expenses, except for deeds that require collective action by the BoD, such as the distribution of corporate assets, the contracting of a loan, the establishment of any company, the acquisition or distribution in any way of Company participations in other companies, the purchase or sale of companies or sectors. At the same time, the company is legally bound by the signature of Mr. Loukas Petkidis (1st class signatory) and one of any of Mr. Nikolaos Zervas and Nikolaos Chourdakis (2nd class signatory) for any action, deed and contract up to the amount of Euro 200,000 for capital investments and up to Euro 100,000 for operating expenses.
Mr. Giannis Anastasopoulos is appointed as the new Head Accountant of GERMANOS SA. Mr. Anastasopoulos has been a company executive since 1999.