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ANNOUNCEMENTS

Sidenor: Resolutions of the Annual General Meeting

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SIDENOR SA announces the following: On Tuesday June 14, 2011 at 11:00 am the Companys Annual Ordinary General Shareholders Meeting was held at the ATHENS IMPERIAL hotel, Karaiskaki Square, Athens. There were 49 shareholders present who represented 67.181.416 shares of the total 96.243.908 company outstanding shares thus a 69.80% and the General Meeting took decisions on the following items of the Daily Agenda: 

1. Approval of the Annual Financial Statements of the fiscal year 2010, along with the corresponding Management Report of the Board of Directors and the Audit Report of the Chartered Accountant/Auditor (Voted: 67.181.416 (100% of the shareholders presented), votes pro 67.181.416 (thus 100% of the shareholders presented)). 

2. Approval of the discharge of the Members of the Board of Directors and the Chartered Auditors from any liabilities for the fiscal year ended on December 31, 2010 (Voted: 67.181.416 (100% of the shareholders presented), votes pro 67.181.416 (thus 100% of the shareholders presented)). 

3. The election of the company?s regular and assistant chartered auditors of the Audit Firm «PRICEWATERHOUSE COOPERS? for the fiscal year 2011 and their remuneration (Voted: 67.181.416 (100% of the shareholders presented), votes pro 66.893.773 (thus 99,57%, votes against 287.643 (thus 0,43%)). 

4. The election of the members of the new Board of Directors, as follows: George Kalfarentzos, Nikolaos Koudounis, Efstathios Striber, independent non executive member, George Passas, Ioannis Oikonomou, Vassileios Papantoniou, Sarados Milios, Georgios Soulitzis, Andreas Kyriazis, independent non executive member (Voted: 67.181.416 (100% of the shareholders presented), votes pro 65.805.088 (thus 97,95%), votes against 434.788 (thus 0,65%), abstain 941.540 (thus 1,40%)). 

5. The election of the members of the Audit Committee according to art.37 of L3693/2008, as follows: Georgios Passas, Ioannis Oikonomou, Andreas Kyriazis, independent, non executive member (Voted: 67.181.416 (100% of the shareholders presented), votes pro 65.996.673 (thus 98,24%), votes against 243.203 (thus 0,36%), abstain 941.540 (thus 1,40%)). 

6. The approval according to article 24§2 of Law 2190/1920 of the remunerations paid to members of the Board of Directors (Voted: 67.181.416 (100% of the shareholders presented), votes pro 66.205.090 (thus 98,55%), votes against 813.955 (thus 1,21%), abstain 162.371 (thus 0,24%)). 

7. The approval of the issuance of common bond loans, according to Law 3156/2003, up to a total amount of a hundred million euro (100,000,000.00 €) that will be covered totally by banks. The objective of the loans is to refinance part of the Company?s debt obligations. (Voted: 67.181.416 (100% of the shareholders presented), votes pro 65.805.088 (thus 97,95%), votes against 1.213.957 (thus 1,81%), abstain 162.371 (thus 0,24%)). 

8. There are no further announcements for the shareholders.

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