August 30, 2006 The Shareholders' Repeat Extraordinary General Meeting of FANCO S.A. was held today, at 11:00 a.m., at the Company's offices, οn Kifissou and 1 Konstantinoupoleos Street, Peristeri, in accordance with the invitation of the Board of Directors as of 08/18/2006, in order to discuss the following issues of the daily agenda:
1. Approval of the merger through absorption of FANCO S.A., RODOPI SPINNING MILLS S.A. and GALLOP S.A. by NAOUSSA SPINNING MILLS S.A., approval of the Merger Plan on 5/29/06 through absorption of FANCO S.A., RODOPI SPINNING MILLS S.A. and GALLOP S.A. by NAOUSSA SPINNING MILLS S.A., and of the BoD Review Report on the merger.
2. Approval of the signing of the notary deed of the merger of the Company, of RODOPI SPINNING MILLS S.A. and of GALLOP S.A. by NAOUSSA SPINNING MILLS S.A., according to article 74 C.L. 2190/20.
3. Miscellaneous approvals - announcements.
According to the Law and the Company's charter, approval of the above issues requires the presence or representation by proxy of shareholders holding more than 1/2 of the Company's shares amounting to 12,089,500 common nominal shares. Today's General Meeting did not gather the required by law quorum hence the remaining issues of the daily agenda were not examined.
Following the General Meeting, the Board of Directors convened and decided to call the Shareholders' Second Repeat General Meeting on September 12, 2006, at 11:00 p.m. at the company's offices with the same daily agenda.
