FOURLIS S.A.
Decision of the A' Repeat Ordinary General Meeting of the Shareholders of the company
During the Α' Repeat Ordinary General Meeting of the Shareholders of the company, which was held on 30.6.2008, there were present or represented in time, shareholders owners of 28.505.952 shares out of 50.952.920 total number of shares and out of time, shareholders owners of 1.507.806 shares, thus, total number of shares 30.013.758 or 58,90% of the share capital.
The Ordinary General Meeting of Shareholders reached the following decision: SUBJECT ON THE AGENDA
Approval of a stock option plan for the acquisition of company shares by the employees of the company (paragraphs 3 and 4 of article 29 and paragraph 2 of article 31 of C.L. 2190/1920) as well as those of affiliated companies (in the sense of paragraph 5 of article 42e of the aforementioned Law) and Board of Directors' authorisation for the arrangement of procedures and details.
(Approval rate 89,69% of the represented, shares 26.918.268 out of 30.013.758).
Condensed Description of the Stock Option Plan:
Purpose of the Program: The General Meeting of the Shareholders of Fourlis Holdings S.A. targets, through this program, to attract, maintain and motivate the company's and its affiliates' management team, since through this program, the participants derive direct interest as shareholders of the company and they will connect their performance with the future performance of the Company, as this is mirrored to the stock price increase.
Duration of the Program: The Duration of the Program is nine years, therefore last exercise period will be December 2016.
Beneficiaries: As at the date of allotting, the Board of Directors will decide the way of distribution of the stock options from each issuing series, taking into consideration the financials of the Company and evaluating the performance of the potential beneficiaries. Beneficiaries can be senior management executives as well as other members of the management team, but exclusively only after the proposal of the Chairman of the Board of Directors
(President's Award).
Exercise Price: Exercise Price of the aforementioned shares is defined from the average stock price of the company during the first two months of the distribution year, minus 25%. In detail the exercise price of the first issuing series is defined as the average stock price of the Company during the first two months of the year 2008 minus 25%, the exercise price of the second issuing series is defined as the average stock price of the Company during the first two months of the year 2009 minus 25% and the exercise price of the third issuing series is defined as the average stock price of the Company during the first two months of year 2010 minus 25%.
Maximum number of shares issued: The maximum number of shares issued, if the beneficiaries exercise the total number of their stock options, and if the Board of directors issue the maximum umber of stock options, can not exceed five hundred nine thousand and five hundred shares (509.500), meaning 1% of the total share capital. There will be issued five hundred nine thousand and five hundred (509.500) options of one (1) share each in three issuing series.
The Ordinary General Meeting of Shareholders reached the following decision: SUBJECT ON THE AGENDA
Approval of a stock option plan for the acquisition of company shares by the employees of the company (paragraphs 3 and 4 of article 29 and paragraph 2 of article 31 of C.L. 2190/1920) as well as those of affiliated companies (in the sense of paragraph 5 of article 42e of the aforementioned Law) and Board of Directors' authorisation for the arrangement of procedures and details.
(Approval rate 89,69% of the represented, shares 26.918.268 out of 30.013.758).
Condensed Description of the Stock Option Plan:
Purpose of the Program: The General Meeting of the Shareholders of Fourlis Holdings S.A. targets, through this program, to attract, maintain and motivate the company's and its affiliates' management team, since through this program, the participants derive direct interest as shareholders of the company and they will connect their performance with the future performance of the Company, as this is mirrored to the stock price increase.
Duration of the Program: The Duration of the Program is nine years, therefore last exercise period will be December 2016.
Beneficiaries: As at the date of allotting, the Board of Directors will decide the way of distribution of the stock options from each issuing series, taking into consideration the financials of the Company and evaluating the performance of the potential beneficiaries. Beneficiaries can be senior management executives as well as other members of the management team, but exclusively only after the proposal of the Chairman of the Board of Directors
(President's Award).
Exercise Price: Exercise Price of the aforementioned shares is defined from the average stock price of the company during the first two months of the distribution year, minus 25%. In detail the exercise price of the first issuing series is defined as the average stock price of the Company during the first two months of the year 2008 minus 25%, the exercise price of the second issuing series is defined as the average stock price of the Company during the first two months of the year 2009 minus 25% and the exercise price of the third issuing series is defined as the average stock price of the Company during the first two months of year 2010 minus 25%.
Maximum number of shares issued: The maximum number of shares issued, if the beneficiaries exercise the total number of their stock options, and if the Board of directors issue the maximum umber of stock options, can not exceed five hundred nine thousand and five hundred shares (509.500), meaning 1% of the total share capital. There will be issued five hundred nine thousand and five hundred (509.500) options of one (1) share each in three issuing series.