The company ELVAL S.A. announces that, on Wednesday 13 June 2007 and 12:30 p.m., its shareholders assembled at the scheduled Annual Regular General Assembly at the PRESIDENT hotel in Athens. Twenty two (22) shareholders were present, owners of 86,864,760 shares of total 124,060,815 number of shares, namely the 70.00%. On the topics of the General Assembly the shareholders:
1. Approved the annual financial statements of fiscal year 2006, with the relevant reports of the Board of Directors and Auditors.
2. Released the members of the Board of Directors and Auditors from every compensation liability for the fiscal year 2006.
3. Approved the manner and time period of the disposal of profits from the fiscal year 2006. Also was decided the distribution of the dividend of 0.04 euros per share with beneficiaries being the shareholders of the end of the Athens Stock Exchange trading day of 28 June 2007. As of 29 June 2007, the share will be negotiated without any right to the dividend. The payment of the dividend will be completed by the network of ALPHA BANK from 6 July 2007 until the end of the year.
4. Elected as chartered auditors for the fiscal year 2007 the auditing company of ERNST & YOUNG CHARTERED AUDITORS ACCOUNTANTS S.A., according to their offer.
5. Elected a new Board of Directors of the company for a term of one (1) year the following: (1) IOANNIS PANAGIOTOPOULOS, (2) DIMITRIOS KYRIAKOPOULOS, (3) KONSTANTINOS KATSAROS, (4) NIKOLAOS KOUDOUNIS, (5) DIMITRIOS PAVLAKIS, (6) ANDREAS KYRIAZIS, independent member. (7)KONSTANTINOS BAKOURIS, (8) CHRISTOS-EMMANUEL DIMITRAKOPOULOS, (9) KONSTANTINOS KOUKLELIS, (10) GERARD DECOSTER, independent member. (11) REINHOLD WAGNER.
6. Approved the remunerations of members of the Board of Directors in accordance with article 24 par. 2 of the C.L. 2190/1920.
7. Approved the amendment of article 4 of the Articles of Association pertaining to the goal of the company.
8. Approved the contract of common bond loans, in accordance with L. 3156/2003, up to the amount of thirty million (30,000,000.00) euros.
9. Approved the coverage of own holdings for investments that have been approved for integration in the development law 3299/2004, with the pledge of the new balance.
10. There are no announcements toward the shareholders.