The Company "KRI-KRI SA MILK INDUSTRY", with VAT No EL094289571  and Reg. No 113772252000 (hereinafter referred to as the "Company"), in accordance with the relevant provisions of the Regulation on Market Abuse (EU) 596/2014 (MAR), Article 2(2) (e) of Decision 3/347/12.7.2005 of the Securities and Exchange Commission and the C.A. Regulation, informs the investing community for the following:

A. Approval of the election of a member of the Board of Directors & Reconstitution into a Body

In the context of the 5^th issue of the Agenda of the Annual General Meeting, which took place on  Tuesday 07.07.2020, at 12:00  p.m., at the Company's headquarters in Serres, was announced at the General Meeting, the election of Mr. Mavridoglou  Antonios of Georgios, as a new independent non-executive member, temporarily, in place of the resigned Mr. Kamarinopoulos Panagiotis. The Annual General Meeting subsequently decided to approve the election of Mr. Mavridoglou Antonios, in accordance with Art.  3., par. 1, Law 3016/2002 and Art. 82, par. 1, Law 4548/2018, as an independent Non-Executive Member, until the end of term of the current Board of Directors, i.e. until 28.06.2022, automatically extended until the expiry of the deadline, within which the next Annual General Meeting must meet and until the relevant decision is taken.  

Thus, the Board of Directors of the Company, with a term until 28^th June 2022, automatically extended until the expiry of the deadline, within which the next Annual General Meeting must meet and until the decision is taken, is as follows:

1. Tsinavos Panagiotis,
2. Kotsabasis Georgios,
3. Xentes Theodoros,
4. Kyriakidis Anastasios and
5. Mavridoglou Antonios.

In addition, the General Meeting, in the context of the 6th issue of the Agenda, after hearing the relevant recommendation of the Board of Directors that Mr. Mavridoglou Antonios of Georgios meet the conditions of independence of Article 4 of Law 3016/2002, as applicable, decided to designate him as an Independent Non-Executive Member of Board of Directors.

Thus, following the above, the decision of the Annual General Meeting of 28.06.2016 and the decision of the Extraordinary General Meeting of 24.01.2017, under which decisions had already been designated existing members of the Board of Directors, pursuant to Art. 3, par. 1, Law 3016/2022, as Independent Non-Executive Members, in addition to the existing ones Independent Non-Executive Members, in accordance with the Art. 4, Law 3016/2002 of the current Board of Directors, are the following:

1. Xentes Theodoros,
2. Kyriakidis Anastasios and
3. Mavridoglou Antonios.

Following the above, the Board of Directors was reconstituted into a body at its meeting on  07.07.2020, as  follows:

1. Tsinavos Panagiotis, President of the Board of Directors & CEO.
2. Kotsabasis Georgios, Executive Member & Vice-President of the Board of Directors
3. Xentes Theodoros, Independent Non-Executive Member.
4. Kyriakidis Anastasios, Independent Non-Executive Member.
5. Mavridoglou Antonios, Independent Non-Executive Member.

B. Election of a new Audit Committee and appointment of members & Chairman of the Audit Committee

The Annual General Assembly has elected a new three-member Audit Committee, in accordance with the provisions of Article 44 of Law 4449/2017, which will be a committee of the Board of Directors, three-member and consisting of three (3) Independent Non-Executive Members of the Board of Directors, within the meaning of the provisions of Article 4 of Law 3016/2002.

Subsequently, the Annual General Meeting authorized the Board of Directors to appoint these three (3) Independent Non-Executive Members of the Board of Directors,  who will occupy the positions of the members of the Audit Committee of the Company, in accordance with the above and the provisions of Article 44 of Law 4449/2017, after confirming that the conditions of independence are met.

The term of the Audit Committee was decided to coincide with the term of the Board of Directors of the Company, i.e. until 28^th June 2022, automatically extended until the expiry of the deadline, within which the next Annual General Meeting must meet and until the decision is taken.

In addition, it was decided that the Chairman of the Audit Committee should be appointed by its members.

Finally, the Annual General Meeting has decided, to authorize the Board of Directors, to replace members of the Audit Committee, in accordance with the above, when they may resign, pass away or are permanently absent for any other reason, until the end of its term.

Following the above decisions of the Annual General Meeting, the Board of Directors, at its meeting  on 07.07.2020, appointed as members of the Audit Committee of the Company the Independent Non-Executive Members of the Board of Directors, Mr Xentes Theodoros, Mr Kyriakidis Anastasios and Mr Mavridoglou Antonios, for whom it was confirmed, both by the Board of Directors and by the General Meeting, that they meet the criteria for the independence of Article 4 of Law 3016/2002 and after having been confirmed by the Board  of Directors for all the above persons that they meet the conditions of Article 44, par. 1 of Law 4449/2017.

Furthermore, at the meeting of the Audit Committee on 07.07.2020, it elected Mr Xentes Theodoros as its Chairman. The composition of the Audit Committee is as follows:

1. Xentes Theodoros, Chairman‧
2. Kyriakidis Anastasios, Member‧
3. Mavridoglou Antonios, Member.

It should be noted that all members of the Audit Committee meet the conditions of the Article 44, par. 2, Law 4449/2017.

Serres, 7^th July 2020

The Board of Directors