DECISIONS OF THE ANNUAL GENERAL ASSEMBLY OF SHAREHOLDERS


Piraeus port Authority announces that on Friday 22/6/2018, took place in the offices of Athens Exchange the Annual Regular General Meeting of shareholders ofPPA S.A.

In the General Meeting were present shareholders representing 21.014.424 shares out of 25.000.000 shares, or percentage 84.06% of issued share capital. The regular General Meeting after discussion took the following decisions:


ITEM 1:
Approval of the Financial Statements of the fiscal year 2017, along with the Board of Director's Annual Report and the Independent Auditor's Report

After voting, the General Assembly approved the Annual Financial Statements for the fiscal year 2017, the Annual Report of the Board of Directors and the Independent Auditor's Report for the fiscal year 2017 by 20.719.472 votes, i.e. by a majority of 98,60% of the paid up share capital.

Shareholders representing 294.952 votes voted against

Shareholders representing 0 votes abstained from the vote.

Total valid votes: 21.014.424.
 

ITEM 2: Discharge of the BoD Members and the Independent Auditors from any liability for damages for the fiscal year 2017

After voting, in accordance with article 35 of the Codified Law 2190/1920, the General Assembly discharged the members of the Board of Directors and the Auditors from any liability for damages for the fiscal year 2017, by 20.999.467 votes, i.e. by a majority of 99,93% of the paid up share capital.

Shareholders representing 14.517 votes voted against

Shareholders representing 440 votes abstained from the vote.

Total valid votes: 21.014.424.


ITEM 3:
Distribution of dividend for the fiscal year 2017

 After voting, the General Assembly approved by 21.014.424 votes, i.e. by a majority of 100% of the paid up share capital:

- the distribution of dividend of the fiscal year 2017, amounting to € 4,280,000.00, i.e. € 0.1712 per share,

- the setting of Thursday, 19/07/2018, as ex-dividend date

- the setting of Friday, 20/07/2018, as dividend beneficiaries date (Record day)

- the setting of Thursday, 26/07/2018, as commencement date of dividend payment by Eurobank Ergasias S.A.

Shareholders representing 0 votes voted against

Shareholders representing 0 votes abstained from the vote.

Total valid votes: 21.014.424.

 

ITEM 4: Election of Independent Auditors, for the statutory audit of the financial statements of the Company for the fiscal year 2018.

After voting, the General Assembly by 21.014.424 votes, i.e. by a majority of 100% of the paid up share capital, re-elected the audit firm “PricewaterhouseCoopers S.A” (with register number 113 of the Institute of Certified Public Accountants of Greece (SOEL)), for the statutory audit of the Company's Financial Statements for the fiscal year 2018, at the same fee level as the previous fiscal year (€ 95,000.00).

Shareholders representing 0 votes voted against

Shareholders representing 0 votes abstained from the vote.

Total valid votes: 21.014.424.


ITEM 5:
Approval of the annual compensation of the BoD members for the fiscal year 2017, pursuant to article 24, paragraph 2 of Law 2190/1920 as in force, and pre-approval of their compensation for the fiscal year 2018.

After voting, the General Assembly:

a) Approved, by 21.002.424 votes, i.e. by a majority of 99,94% of the paid up share capital, in accordance with article 24, par 2 of Law 2190/1920, the compensations paid during the fiscal year 2017 to the BoD members, of total gross amount € 935,053.17, as stated in the Annual Financial Statements of the fiscal year 2017 and concern in detail:

- € 610,500.00 for BoD members total compensation (gross annual compensation of each member € 55,500.00 * 11 BoD members);

- € 103,632.80 for social security charges (EFKA) corresponding to the BoD members compensation;

- € 197,146.00 for total salary payments (based on employment contracts approved by the 2017 Ordinary General Assembly between the company and the members of the BoD Members FU Chengqiu, Kouvaris Ioannis, Liagkos Athanasios);

- € 23,774.37 for ancillary benefits to BoD member Mr. FU Chengqiu.

 Shareholders representing 0 votes voted against

Shareholders representing 12.000 votes abstained from the vote.

Total valid votes: 21.014.424.

 b) Pre-approved, by 21.002.424 votes, i.e. by a majority of 99,94% of the votes represented in the General Assembly, in accordance with article 24, par 2 of Law 2190/1920,:

- an annual gross compensation of € 40,000.00 for each BoD member for the fiscal year 2018, reduced by € 15,500.00 compared to 2017, following the respective proposal of the Company's BoD;

- payment of social security charges (EFKA) corresponding to BoD members compensation for the year 2018;

- total salary payment (based on employment contracts between the company and the BoD members FU Chengqiu and Liagkos Athanasios), of € 150,500.00;

- ancillary benefits for BoD member Mr. FU Chengqiu at the same level as 2017.

Shareholders representing 0 votes voted against

Shareholders representing 12.000 votes abstained from the vote.

Total valid votes: 21.014.424.

 


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