In accordance with the corporate law and the Articles of Association, the Board of Directors of PASAL DEVELOPMENT S.A. invites the Companys Shareholders to the Annual Ordinary Shareholders Meeting, which will convene on Wednesday June 23th 2010, at 11.00 am, at the Companys Headquarters on 116 Kifissias Ave. & 1 Davaki Str. In the 4th floor, with the following agenda:
1) Submission for approval of the Annual Financial Report of the Company & the Group for the fiscal year 2009 (period from 01.01.2009 to 31.12.2009), including the annual financial statements, (on corporate and consolidated basis), for the above mentioned fiscal year (01.01.2009 to 31.12.2009), together with the relevant reports of the Board of Directors and the Certified Auditors for the same period.
2) Discharge of the Board of Directors and the Certified Auditors from all liabilities related to their activities during the fiscal year ended at 31.12.2009, (01.01.2009 to 31.12.2009).
3) Election of two regular and two substitute Certified Auditors for auditing the financial statements (corporate & consolidated) for the fiscal year 2010 and determination of their fees.
4) Approval of the fees & remunerations paid to BoD.
5) In accordance to the art.23 of Codified Law 2190/1920, grant of permission, , to the Directors and the Executives of the Company to participate in the Boards of Directors of subsidiaries or affiliated companies, as described in ar42e par. 5 of Codified Law 2190/1920.
6) Approval of contracts between the Company and the persons defined in art,23a, par.5 of Codified Law 2190/1920.
7) Other topics and announcements
All Company shareholders have the right to participate in the Meeting and to vote in person or through a representative. Every share incorporates one voting right.
In order to participate in the Meeting, Shareholders must block the number of shares under which they wish to participate, in the Dematerialized Securities System through the official user of their account. Shareholders, who maintain their shares in the special account of the Dematerialized Securities System, must block the shares at the relevant department of Hellenic Exchanges S.A.
In both cases, the relevant blocking certificates must be submitted to the Company's registered offices (Investor Relations Department, 116 Kifisias Ave. & 1 Davaki Str., 4th floor) at least five (5) days prior to the date for the Annual Ordinary Shareholders Meeting. Until the same deadline, shareholders must also submit to the Company all representation documents or Legal Authority Documents (if for a Legal Entity).
In case quorum is not achieved during the aforementioned Annual Ordinary Shareholders Meeting on 23.06.2010, a repeated Ordinary Shareholders Meeting will follow on 05.07.2010, Monday at 11.00 a.m. at the Company Headquarters 116 Kifisias Ave. & 1 Davaki Str., 4th floor, Ambelokipoi, Athens.
Shareholders who will block their shares for the participation in the Annual Ordinary Shareholders Meeting, in case of a repeated Shareholders Meeting, will have to keep them blocked, or in case the blockage is ceased to re-block the shares at least five (5) days prior to the date of the repeated Ordinary Shareholders Meeting.
Furthermore, Shareholders who will not participate in the Annual Ordinary Shareholders Meeting, on 23.06.2010, may subsequently block their shares and participate in the repeated Meeting.