The Annual General Meeting of the Shareholders of "SIDENOR, STEEL PRODUCTS MANUFACTURING COMPANY, S.A.", was held at ATHENS IMPERIAL HOTEL, Karaiskaki Sq., Athens, on Tuesday, June 12, 2007 at 12:30 hours, pursuant to the pertinent notice of the Company's Board of Directors, dated May 21, 2007.
The General Meeting, with a total number of shares represented 59.369.431 out of 96.006.833 (thus 61.84%) (47 shareholders present), approved the Company's Annual Financial Statements for the financial year 2006, together with the Board's and the Auditors' Reports on them and also decided to discharge the members of the Board and the Auditors from all liability for damages, concerning the financial year 2006. Then, the General Meeting approved the distribution of the profits for the year 2006.
Moreover, it was decided that the beneficiaries of the dividend of EURO 0,25 per share would be the shareholders of the Company after the closing of the A.S.E. on 27/06/2007. From 28/06/2007, the Company?s shares will be negotiated without the right on the 2006 dividend. The payment of the dividend will be made through the network of the ALPHA BANK branches, starting on July 5, 2007, until the end of the year.
Then the General Meeting elected as auditors for the financial year 2007 the audit firm "PriceWaterHouseCoopers", their remuneration to be fixed following their pertinent offer.
Also the General Meeting approved as members of the new Board of Directors, the following: 1. George Kalfarentzos, 2. Gregory Konstantakopoulos, 3. Efstathios Striber, independent member. 4. Nikolaos Koudounis, 5. Ioannis Oikonomou, 6. Athanassios Mitropoulos, 7. Sarados Milios, 8. Dimitrios Paraskevopoulos, 9. Andreas Kyriazis, independent member.
The term of office of the above Board members will start on the day after their election and it will terminate at the date of the A.G.M. of the year 2008.
The General Meeting also approved the amounts to be paid to Board members and decided on the amendment of articles 13 of the Articles of Association regarding composition of the Board and 19 regarding granting authority and company representation.
Finally, regarding the 9th item of the daily agenda 'Issue of a common Bond loan' for which there is a quorum requirement for the 2/3 of the company's share capital so as to take decision according to the Company's Articles of Association, the General Meeting approved the president's proposition to include it to the daily agenda of a Repeat General Meeting and gave authority to the BoD to invite shareholders the aforementioned Repeat General Meeting and disclose the invitation to the Press.