Serres, 28/06/16

DECISIONS OF THE ORDINARY General Meeting OF SHAREHOLDERS OF 28/06/16

Today the 28/06/16, 12th hour at the offices of the company in the Industrial Area of Serres, the Annual General Meeting of Shareholders of «PAPAPANAGIOTOU SA» and with the distinctive title «DROMEAS SA» was held. Specifically 11 Shareholders were attending, who hold a total of 26.373.094 common shares of the Company, representing 75,96% (a quorum) of the total share capital. According to Article 278 of the ASE (Athens Stock Exchange) Regulation, the Company informs that in the above General Meeting, discussed and decisions were taken on the following agenda items:

1. The shareholders that were present, having 75,96% of the CompanyΆs share capital (ie shareholders holding 26,373,094 total shares) decided unanimously to approve the annual financial statements (for the Company and the Group) as well as the report of the Board of Directors and the Report of the External Auditor. On the basis of the financial result in the fiscal year 2015, there is no dividend to be distributed.
2. After approving the annual financial statements (Company and consolidated), the  shareholders that were present, holding 75,96% of the shares and after special vote, by roll call i.e. shareholders holding a total of 26,373,094 shares, decided unanimously to rid the Board members and the auditors of the Company from any liability for the fiscal year from 1.1.2015 to 31.12.2015.
3. The shareholders that were present, having 75,96% of the CompanyΆs share capital (ie shareholders holding 26,373,094 total shares) decided to entrust the audit of fiscal year 2016 to Mr Athanasios D. Tsaklis (Registration Number 14951) and Mr. Dimitrios G. Plastaras (Registration Number 27771) as a substitute. The Board of Directors was further authorized to sign a relevant contract awarding the audit within a reasonable timeframe, as required by the applicable Auditing Standards.
4. The shareholders that were present, having 75,96% of the CompanyΆs share capital (ie shareholders holding 26,373,094 total shares) unanimously approved in accordance with Article 24 of Law 2190/1920, fees, benefits and allowances, granted to members of the Board from 1.1.2015 to 31.12.2015.
5. The shareholders that were present, having 75,96% of the CompanyΆs share capital (ie shareholders holding 26,373,094 total shares) unanimously approved in accordance with Article 24 of Law 2190/1920, the budgeted fees, benefits and allowances to be granted to members of the Board from 1.1.2016 to 31.12.2016. Besides it was also decided, in accordance with Article 5 of Law 3016/2002 on corporate governance, the determination of compensation of non-executive Board members for 2016 for time spent in board meetings and overall performance of their duties and authorized the Board to take the necessary actions to implement the above.

The Board of Directors