GR. SARANTIS S.A.

Resolutions of the Ordinary General Shareholders’ Meeting

Athens, June 27th 2014

Resolutions of the Ordinary General Shareholders' Meeting

On 26/06/2014, Thursday and at 14:00 p.m., the Ordinary General Shareholders' Meeting of "GR. SARANTIS S.A." took place at the company's registered offices. During the General Meeting, shareholders representing 22,098,868 shares were present, corresponding to a 63.56% of the company's share capital. As a result, the company had the required by the law quorum and majority to make decisions on the daily agenda issues No 1-6, while the discussion and decision making on the 7th issue was postponed and will take place during a Repeated General Shareholders Meeting at the same place on Wednesday, July 9th 2014 at 16:00, and if again the quorum required by the law is not achieved, during a second Repeated General Shareholders Meeting at the same place on Monday, July 21st 2014 at 16:00.

Specifically, the above Meeting:

 

  1. Approved the Annual Company and Consolidated Financial Statements for the fiscal year 01/01/2013 - 31/12/2013, as well as the Management (Board of Directors) Report and Auditors Reports, as these were uploaded in the company's website and are included in the 2013 Annual Financial Report.

 

  1. Approved the interim dividend of € 0.30 per share distributed to the Company's shareholders based on the decision of the Board of Directors on 19/12/2013.

 

  1. Released the Board members and the Certified Auditor from any liability for indemnity regarding the financial statements and the management of the aforementioned financial year.

 

  1. Elected the audit firm "OMEGA CERTIFIED AUDITORS ACCOUNTANTS S.A." as the auditor for the financial year 01.01.2014 ? 31.12.2014 and as the provider of tax certificate, and approved auditing company's fee as the minimum fee defined by law plus VAT.

 

  1. Approved the extension of the BoD members Mr. Kyriakos Sarantis and Grigoris Sarantis contracts with the Company for the year 2014 and until the Ordinary G.M. which will take place within the year 2015 and approved the amounts paid within the year 2013 to the above mentioned BoD members, and also approved the attendance fees paid to the BoD members Konstantinos Rozakeas and Antonios Agiostratitis.

 

  1. Approved a new decision for the purchase of treasury shares via the Athens Exchange according to the provisions of article 16 of PL 2190/1920 up to 10% of the company's shares (the 10% currently represents 3,477,098 shares), including the 352,793 shares already acquired by the company based on the resolutions of the General Shareholders Meetings of 02/06/2008, 11/11/2008, 30/06/2010 and 21/06/2012. The maximum buy back price was set at eight euros (8 €) per share and the lowest at fifty cents (0.50 €) per share. The company may acquire own shares up to twenty four months from the date of the General Meeting, that is up to 26/06/2014. Finally, the Board of Directors was authorized to act accordingly for the completion of the buyback program.