Pursuant to Article 278 of the Athens Stock Exchange Regulation, J&P-AVAX SA announces that an Extraordinary Shareholders Meeting was held on Thursday 23.08.2007 with the direct or via proxy participation of shareholders representing 54,548,025 shares and voting rights, corresponding to 74.52% of the Company's total stock and voting rights.
The General Meeting unanimously voted for and approved the following items in the agenda:
1.Share capital increase amounting to euro 41,040,000 through the issue of 5,400,000 new common registered shares at euro 7.60 per share, with existing shareholders waiving their rights to the issue. Approval of amendment of the Company Charter (Article 5) as a result of the share capital change.
2.Authorisation of the Company to sign contracts in which the counterparty is a Board member (Article 23a of Law 2190/1920).
The General Meeting did not discuss the 3rd item in the agenda, titled "Approval of the election of new Board members as replacement to unfilled Board seats" as no need for replacement of Board members has arisen.