LAMDA DEVELOPMENT S.A.
Announcement.
LAMDA Development S.A. announces that today, the 22nd of May 2008 the Annual General Meeting of the Shareholders was held at the King George Palace Hotel. At the General Meeting were present 42 shareholders representing 29.389.229 shares that is 66,75% of the 44.029.950 total common registered shares. The General Meeting reached the following decisions on the agenda:
1. Approval of the Financial Statements of the fiscal year starting on January 1st, 2007 and ending December 31st, 2007 along with the Board of Director's Report, the Explanatory Report in accordance to article 4, par. 7 & 8, of Law 3556/2007 and the Auditor's Report.
The Company's Financial Statements for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007, the Board of Director's Report, the Report in accordance to article 4, par. 7&8 of Law 3556/2007 and the Auditor's Report, were approved by 29.357.269 votes, i.e. majority 99,89% of votes represented at the Meeting.
2. Release of the Board of Directors and the Auditors from all actions for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007. Members of the Board of Directors and the Auditors were released from all liability for compensation for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007 by 29.389.229 votes, i.e. majority 100% of votes represented at the Meeting .
3. Election of Auditors for the fiscal year starting January 1st, 2008 and ending December 31st, 2008 and determination of their fee. Appointed to carry out the audit for the fiscal year starting January 1st, 2008 and ending December 31st, 2008 with 29.379.707 votes, i.e. majority 99,97% of votes represented at the Meeting, were as regular auditor Mr. Michalatos Konstantinos (license SOEL 17701) and Mr. Riris Kyriakos (license SOEL 1211) as substitute, of the audit Company PRICEWATERHOUSECOOPERS S.A.. Their remuneration for 2008, was approved at a total amount of euro 104.000.
4. Approval of the Board of Directors' fees and agreements in accordance with articles 23a and 24 of Companies Law 2190/1920. The remuneration of the Board of Directors (articles 23a and 24 of C.L. 2190/1920) was approved by 29.379.707 votes, i.e. majority 99,97% of votes represented at the Meeting, as follows:
Fiscal year 2007
- Remuneration of Executive Board Members, total amount of euro 410.204,26
- Remuneration of Board Members for the participation in Meetings, total amount of euro 70.000
- Remuneration of Board Members for participation in Committees, total amount of euro 9.000
Fiscal year 2008
- Remuneration of Executive Board Members, total amount of up to euro 415.000
- Remuneration of Board Member for the participation in Meetings, total amount of euro 70.000,00
- Remuneration of Board Members for participation in Committees, total amount of euro 9.000
5. Purchase of Company's own shares in accordance with article 16 of Companies Law 2190/1920.
The acquisition by the Company of own shares, in accordance with article 16 of C.L. 2190/1920, was approved by 29.389.229 votes, i.e. majority 100% of votes represented at the Meeting. Specifically, the Company is entitled to purchase within period of 12 months, of up to 10% of the total shares, at a minimum purchase price of euro 2 and a maximum purchase price of euro 18 per share. To compute the 10% ratio of the total outstanding shares, the already purchased shares that the Company holds will be taken into account. Moreover, the Company is willing to conform to article 5 of the Committee Regulation 2273/2003, in relation to the price and the volume of the purchases, thus to article 6 par.1 of the same Regulation.
1. Approval of the Financial Statements of the fiscal year starting on January 1st, 2007 and ending December 31st, 2007 along with the Board of Director's Report, the Explanatory Report in accordance to article 4, par. 7 & 8, of Law 3556/2007 and the Auditor's Report.
The Company's Financial Statements for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007, the Board of Director's Report, the Report in accordance to article 4, par. 7&8 of Law 3556/2007 and the Auditor's Report, were approved by 29.357.269 votes, i.e. majority 99,89% of votes represented at the Meeting.
2. Release of the Board of Directors and the Auditors from all actions for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007. Members of the Board of Directors and the Auditors were released from all liability for compensation for the fiscal year starting on January 1st, 2007 and ending December 31st, 2007 by 29.389.229 votes, i.e. majority 100% of votes represented at the Meeting .
3. Election of Auditors for the fiscal year starting January 1st, 2008 and ending December 31st, 2008 and determination of their fee. Appointed to carry out the audit for the fiscal year starting January 1st, 2008 and ending December 31st, 2008 with 29.379.707 votes, i.e. majority 99,97% of votes represented at the Meeting, were as regular auditor Mr. Michalatos Konstantinos (license SOEL 17701) and Mr. Riris Kyriakos (license SOEL 1211) as substitute, of the audit Company PRICEWATERHOUSECOOPERS S.A.. Their remuneration for 2008, was approved at a total amount of euro 104.000.
4. Approval of the Board of Directors' fees and agreements in accordance with articles 23a and 24 of Companies Law 2190/1920. The remuneration of the Board of Directors (articles 23a and 24 of C.L. 2190/1920) was approved by 29.379.707 votes, i.e. majority 99,97% of votes represented at the Meeting, as follows:
Fiscal year 2007
- Remuneration of Executive Board Members, total amount of euro 410.204,26
- Remuneration of Board Members for the participation in Meetings, total amount of euro 70.000
- Remuneration of Board Members for participation in Committees, total amount of euro 9.000
Fiscal year 2008
- Remuneration of Executive Board Members, total amount of up to euro 415.000
- Remuneration of Board Member for the participation in Meetings, total amount of euro 70.000,00
- Remuneration of Board Members for participation in Committees, total amount of euro 9.000
5. Purchase of Company's own shares in accordance with article 16 of Companies Law 2190/1920.
The acquisition by the Company of own shares, in accordance with article 16 of C.L. 2190/1920, was approved by 29.389.229 votes, i.e. majority 100% of votes represented at the Meeting. Specifically, the Company is entitled to purchase within period of 12 months, of up to 10% of the total shares, at a minimum purchase price of euro 2 and a maximum purchase price of euro 18 per share. To compute the 10% ratio of the total outstanding shares, the already purchased shares that the Company holds will be taken into account. Moreover, the Company is willing to conform to article 5 of the Committee Regulation 2273/2003, in relation to the price and the volume of the purchases, thus to article 6 par.1 of the same Regulation.