The Annual General Meeting of the shareholders of Minoan Lines S.A. which was held in Heraklion, Greece on Sunday 22nd July 2007, acquired or represented by shareholders of 39,569,520 shares percentage 55.79% of the total share capital (70,926,000), passed the following resolutions:
1. Approved the Company's Annual Financial Statements for the fiscal year ended 31.12.2006 (Balance Sheet, Profit and Loss Account Statement, Appropriation of Profits, Notes to the Financial Statements) and the Consolidated Financial Statements for the same period (percentage 97.70%). Approved the distribution of profits and payment of dividend amounting to Euro 9,575,010 or Euro 0.135 per share. Entitled to the dividend are the shareholders at the end of the Athens Stock Exchange trading session on Thursday 09th August, 2007. Effective Friday 10th August, 2007, shares will be trading ex-dividend. The payment of the dividend will commence on Monday 20th August, 2007 via the National Bank of Greece.
2. Released the members of the Board of Directors and the Auditors of the Company from any liability for their activity during the fiscal year ended 31.12.2006 (percentage 97.29%).
3. Approved the remuneration of the members of the Board of Directors for the fiscal year 2006 (percentage 97.62%).
4. In accordance with the L. 3016/2002, elected the following four new directors for the 12-member Board of Directors: Messrs: Panagiotis C. Laskaridis (percentage 92.01%), Antonis N. Maniadakis (percentage 82.01%), Michail G. Vavourakis (percentage 73.37%) and John C. Dryllerakis (percentage 69.58%). Also elected Mr. George G. Drys (percentage 64.49%) as first substitute member and Mr Konstantinos M. Mamalakis (percentage 59.50%) as second substitute member.
5. Elected KPMG Certified Auditors as auditors for the fiscal year 2007 (percentage 93.60%).