The company under the name of "PASAL Real Estate Development S.A." and the distinctive title "PASAL Development SA", announces that the Annual Ordinary Shareholders Meeting took place on 30/06/2011. There were present 3 shareholders representing 9.857.731 shares on a total of 14.967.940 shares, or 65,86 % of the companys share capital. During the General Assembly meeting there were discussions and decisions were taken on the following daily agenda issues:
More specifically the General Assembly unanimously approved:
1a. The Annual Financial Report of the Group & the Company for the fiscal year 2010 (from 01.01.2010 to 31.12.2010), together with Annual Financial Statements (for the company and consolidated) of the above mentioned fiscal year 1b. The relevant Annual Reports of the Board of Directors and the Certified Auditors.
2. The Release of the Board of Directors and the Certified Auditors from all liabilities related to their activities during the fiscal year ended at 31.12.2010, (from 01.01.2010 to 31.12.2010)
3. The election of Mr. George Tsiolis and Mr. Panagiotis Vroustouris as regular Certified Auditors and Mr. Antonios Papagianis and Leonidas Mavromitros as substitute Auditors for the fiscal year from 1/1/2011 to 31/12/2011 and the determination of their fees for the above period.
4. The fees and remuneration paid to the BoD members during the fiscal year 2010 and the upper limit for the total fees that will be paid during current fiscal year.
5. The granting of permission, in accordance to the art.23 of Codified Law 2190/1920, 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. The contracts between the Company and the persons defined in art,23a, par.5 of Codified Law 2190/1920.