TERNA ENERGY S.A.
DECISIONS OF THE SHAREHOLDERS' ORDINARY GENERAL ASSEMBLY HELD ON April 2,2009
Today, the 2nd day of April 2009, the Shareholders of the company TERNA ENERGY S.A. held the Ordinary General Assembly, in which 30 Shareholders holding 83.494.286 shares and voting rights, thus a percentage 76,37% of the share capital, participated.
Τhe General Assembly approved with 83.445.861 votes of total 83.494.286 the Financial Statements (Company and Consolidated) for the financial year 2008, as these statements were published in the Press, posted in the company's site and were analytically presented in the Annual Financial Report, which was distributed to the Shareholders present in the Assembly.
The General Assembly unanimously approved the distribution of profits for the year 2008 and in particular, the distribution of the amount of euros 360.000 as remuneration of the Members of the Board of Directors as well as the distribution of a dividend of euro 0.067 per share that will be distributed to the Shareholders, holders of shares at the closing of trading on 24th June 2008. More specifically, the General Assembly decided that the distribution of dividends will be conducted by "PIRAEUS BANK S.A." and set as date of commencement of distribution Tuesday April 14, 2009.
The General Assembly unanimously approved that the Members of the Board of Directors Mr. Em. Maragoudakis,Mr. G. Spyrou and Mr. G. Haralambopoulos, apart from the fees due to their participation in the Board of Directors, will continue to receive fees payable to them for their services rendered to the Company and empowers the Board of Directors to determine the amount of their fees in each case.
Further on the General Assembly, by nominal vote, unanimously discharged the Members of the Board of Directors and the Auditor from every liability or compensation deriving from the exercise of their duties for the financial year 2007.
Further on, the General Assembly unanimously elected from the members of the company "GRANT THORNTON" Mr. Ioannis Leos as Regular Certified Auditor for the financial year 2008 and Mr. Georgios Deliyannis as Deputy, arranging as fee the one set forth by the Greek Institute of Certified Public Accountants which applies to all of its members.
The General Assembly unanimously approved the proposition of the Board of Directors dated 24/3/09 to amend the use and time schedule in the Allocation Table of Raised Funds from the increase of the Share Capital that was decided by the Extraordinary General Assembly on 20/7/2007. (The above mentioned proposition was published in the Daily Official List of the Athens Stock Exchange on 26/3/09 and is also available at the website of our Company).
The General Assembly unanimously gave its permission and approval for the participation of Members of the Board of Directors and Executives of the Company in the management of other companies, which are in any way connected with the Company.
Regarding the Item "Announcements, approvals and discussion of matters of general interest" the General Assembly in favour of which 83.183.287 shares and voting rights of total 83.494.286 were cast, the Company's Directors referred to the progress made in the energy sector through the establishment of new wind parks, the issuance of necessary permits and the imminent commissioning of small hydro electric projects, as well as the new permit for establishment of a photovoltaic plant, which is expected to be issued shortly.
As far as the development of the construction sector is concerned the backlog of undertaken projects amounts nowadays at 70 mil euro and is expected to increase soon after the signing of new construction contracts of a total value of 14 mil euro.
Τhe General Assembly approved with 83.445.861 votes of total 83.494.286 the Financial Statements (Company and Consolidated) for the financial year 2008, as these statements were published in the Press, posted in the company's site and were analytically presented in the Annual Financial Report, which was distributed to the Shareholders present in the Assembly.
The General Assembly unanimously approved the distribution of profits for the year 2008 and in particular, the distribution of the amount of euros 360.000 as remuneration of the Members of the Board of Directors as well as the distribution of a dividend of euro 0.067 per share that will be distributed to the Shareholders, holders of shares at the closing of trading on 24th June 2008. More specifically, the General Assembly decided that the distribution of dividends will be conducted by "PIRAEUS BANK S.A." and set as date of commencement of distribution Tuesday April 14, 2009.
The General Assembly unanimously approved that the Members of the Board of Directors Mr. Em. Maragoudakis,Mr. G. Spyrou and Mr. G. Haralambopoulos, apart from the fees due to their participation in the Board of Directors, will continue to receive fees payable to them for their services rendered to the Company and empowers the Board of Directors to determine the amount of their fees in each case.
Further on the General Assembly, by nominal vote, unanimously discharged the Members of the Board of Directors and the Auditor from every liability or compensation deriving from the exercise of their duties for the financial year 2007.
Further on, the General Assembly unanimously elected from the members of the company "GRANT THORNTON" Mr. Ioannis Leos as Regular Certified Auditor for the financial year 2008 and Mr. Georgios Deliyannis as Deputy, arranging as fee the one set forth by the Greek Institute of Certified Public Accountants which applies to all of its members.
The General Assembly unanimously approved the proposition of the Board of Directors dated 24/3/09 to amend the use and time schedule in the Allocation Table of Raised Funds from the increase of the Share Capital that was decided by the Extraordinary General Assembly on 20/7/2007. (The above mentioned proposition was published in the Daily Official List of the Athens Stock Exchange on 26/3/09 and is also available at the website of our Company).
The General Assembly unanimously gave its permission and approval for the participation of Members of the Board of Directors and Executives of the Company in the management of other companies, which are in any way connected with the Company.
Regarding the Item "Announcements, approvals and discussion of matters of general interest" the General Assembly in favour of which 83.183.287 shares and voting rights of total 83.494.286 were cast, the Company's Directors referred to the progress made in the energy sector through the establishment of new wind parks, the issuance of necessary permits and the imminent commissioning of small hydro electric projects, as well as the new permit for establishment of a photovoltaic plant, which is expected to be issued shortly.
As far as the development of the construction sector is concerned the backlog of undertaken projects amounts nowadays at 70 mil euro and is expected to increase soon after the signing of new construction contracts of a total value of 14 mil euro.