Modification of the timetable of the funds drawn for the construction of a building.
The company, in accordance with its entry form, is bound to dispose of these drawn funds during years 2002-2003 in the following ways:
1) An amount of 733.675,72 euros will be disposed for purposes of purchasing special water-wagons, disposing of the amount of 440.000 euros over the year 2002 and the amount of 294.000 euros over the year 2003.
2) An amount of 4.695.524,57 euros will be equally disposed for purposes of constructing a building in the area of Toumba, Thessaloniki over a period of two years.
At the extraordinary meeting held on December 30th, 2002, it was decided by the shareholders for the timetable of the drawn funds to be modified by transposing it to years 2003-2004. It was further decided for the amounts of 440.000? and 294.000? to be disposed for purposes of purchasing special water-wagons over years 2003 and 2004 respectively and for the same amount of money to be equally disposed over a period of two years for the construction of a building. The materialization of the timetable as conc erns the purchase of the vehicles was completed within the time specified. On 15/1/2004 the board of Water Supply and Sewerage Company of Thessaloniki according to its decision 366/04 modified the materialization of the timetable related to the construction of the building transposing it from years 2003-2004 to years 2005-2006. The construction of the building has been appointed by auction to the co-operative PAGONI SITHON LTD.
It must be noted that this decision must be finalized by the next general meeting of the shareholders.