According to PD 350/1985 Article 6 - par. 1b and Article 279 of the rules of the Athens Exchange we disclose that:
The annual general assembly of shareholders of the company on its meeting today April 26, 2007, that were attended by eight (8) shareholders representing the 35,06% of the companies total shares:
1. Approved the company and consolidated financial statements of the company for the year January 1, to December 31, 2006.
2. Approved the proposal of the Board of Directors to distribute the amount of Euro 2.112.006,32 as dividend to the shareholders of the company, representing Euro 0,04 per share. Beneficiaries of the dividend will be the holders of shares of Friday April 27, 2007, ex-dividend date will be Monday, April 30, 2007 and payment date will be Tuesday, May 8, 2007.
3. Released the members of the Board of Directors and the Auditors from any compensation liability for the fiscal year January 1 to December 31, 2006.
4. Granted permission to the members of the Board of Directors according to article 23 par. 1 of Law 2190/1920, to participate in the Board of Directors or the management of affiliated companies that have similar businesses or activities.
5. Approved the paid in 2006 fees and compensation to the independent non-executive members of the Board of Directors and pre approved their remuneration for the fiscal year 2007.
6. Granted permission according to article 23 a of Law 2190/1920 and approved the conclusion of agreements between the company and the members of the Board of Directors or companies related to them.
7. Elected the audit firm SOL S.A. for the performance of the audit of the financial statements of the company for the fiscal year from January 1 to December 31, 2007.
8. Approved the existing agreements between the company and its subsidiaries.
Finally, the sales and results of the three months period and the high potential for the next time of the company based on its up to today performance was presented in detail to the shareholders.
In detail the sales of air conditioners increased on the domestic market by 57%, exports increased by 101,8%, with average increase in the sale of air conditioners of 75,3%. The sales of white electrical goods of ESKIMO increased by 4,9%, of SHARP by 53,1%, with average increase in sales of white electrical goods of 21,5% for the three months period. Sales of Consumer Electronics of SHARP increased by 215%, while prepaid mobile telephony sales decreased by 46,2%, compensated in their biggest part by the increase in sales of long living consumer goods. The average increase in sales of long living consumer goods amounted to 72,2%, i.e from Euro 10,26 mil. in the first three months of 2006 to 17,67 mil. in the first three months of 2007. Total sales amounted to Euro 29,5 mil. Compared to Euro 32,2 mil. during the related three months of 2006 posting a decrease of 8,5%. Earnings before taxes increased significantly by 162% amounting to Euro 1,23 mil. compared to Euro 0,47 mil. in 2006.
As already announced from the company the tax audit for the fiscal years 2003 to 2005 was finalized. The maintained books and records were assessed satisfactory and correct and no irregularities or omissions were found on withholded taxes. The tax audit disallowed certain expenses and assessed additional taxes for the three audited fiscal years of Euro 560 thousand that will be charged to the results of the current fiscal year.
Τhe shareholders were informed that the transfer of the shares of the 99,7% subsidiary company EOLIKI KYLINDRIAS S.A. to the subsidiary company of the Group, R.F. ENERGY S.A. was finalized. The Board of Directors of R.F. ENERGY S.A. already decided the share capital increase of Euro 5 million through cash injection that will be covered by the existing shareholders according to their holding percentage in the share capital of R.F. ENERGY S.A. The increase was assessed necessary to finance the investments for the development of the wind parks through the subsidiaries KALISTI ENERGIAKI S.A. and EOLIKI KYLINDRIAS S.A.