The A' Repeat of the General Assembly of the Shareholders of the Company TERNA S.A. took place today, the 5th day of July 2006, in which 7 Shareholders of 25.867.933 shares and voting rights were present, thus a percentage of 56.28% of the Share Capital. The only item in the Agenda was the "Decision for the issuing of a Bond Loan according to the provisions of Law 3156/2003 and the terms and conditions contained therein", which was not discussed during the Ordinary General Assembly on 22/6/2006, due to the lack of a quorum of 66,67%, as required by the Articles of Incorporation.
For today's A' Repeat of the General Assembly a quorum of 50% is required, percentage which is reached by the Shareholders being present. The General Assembly, following the Chairman's proposition, consented to the issuing of a common Bond Loan according to Law 3156/2003, as currently in force, for the purpose of refinancing the existing short term lending and the financing of domestic projects and projects abroad. The amount will be 20 million Euros minimum and 50 million Euros maximum with 5-7 years duration and 1-2 years grace period, payable to equivalent semiannual installments with 6month euribor or fixed interest rate, which will be defined at the finalization of the relevant Contract, plus a margin up to 1%. The General Assembly empowered the Board of Directors to negotiate the special terms and lawfully carry out all the necessary procedures.