NEL LINES S.A. announces that the shareholders B' Repeated Ordinary General Meeting took place on the 25th July 2007, in which participated 41 Shareholders (in person or represented by another party), representing 42.299.043 shares i.e. 40,03% of the companys Share Capital. Thus, there was quorum.
The aforementioned General Meeting adopted unanimously the proposal of the Board of Directors and decided the adoption of a new Stock Option Plan as per article 13, par.9 , L.2190/1920 with the following terms and conditions: -Stock Option Plans Duration: Stock Option Plans duration is one (1) year and refers to the year 2007. -Entitled shareholders: Members of the Board of Directors (except for independent members), company's and associated companies employees, after Board of Directors performance appraisal. -Information about the Rights given: The proportion will be one share for each right, i.e. the Rights given will be up to 2.000.000. -Exercise Value: Nominal value plus 30% of the difference (between November average stock market price, preceding the exercise date, minus the nominal value). In any case, the exercise value will not be less than the nominal value. -Right Exercise and Period of Right Exercise: The relevant Rights, may be exercised in December between 1/12/2007 until 15/12/2007. The Rights are personal and cannot be transferred. Details of the Stock Option Plan will be decided by the Board of Directors and included in the informative form, which will be composed in accordance with the relevant laws.
Furthermore, the aforementioned General Assembly cancelled the existing Stock Option Plan which was approved on 12/03/2007 by the General Meeting.
Also, NEL LINES would like to inform the public that the scheduled A' Repeated Extraordinary General Assembly on 25/07/2007 did not take place, due to lack of the required quorum.
In accordance with the company Board of Directors resolution the B' Repeated Extraordinary General Assembly will take place on 08.08.2007.