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ΑΧΟΝ S.A. HOLDING
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General Meeting Resolutions
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July 2, 2007 The ordinary general meeting of shareholders on 29 June 2007 was attended by 10 shareholders and their representatives holding 17,471,882 shares with voting rights (55.45% of all shares). At the meeting, discussions took place and decisions were made on the following matters: Item 1: Submission and approval of the annual financial statements, the profit and loss account, the cash flow statement and the notes from the annual financial statements (company and consolidated) in accordance with International Financial Reporting Standards for the fiscal year from 1 January 2006 to 31 December 2006, following the hearing of the reports of the Board of Directors and the Auditors. The general meeting unanimously approved the annual financial statements (consolidated and company), the profit and loss account, the cash flow statement and the notes from the annual financial statements in accordance with International Financial Reporting Standards for the fiscal year from 1 January 2006 to 31 December 2006, together with the reports of the Board of Directors and the Auditors. Item 2: Release of the members of the Board of Directors and the company auditors from every liability for compensation for the 2006 fiscal year. The general meeting unanimously released the members of the Board of Directors and the certified company auditor from every liability for compensation relating to the balance sheet and the entire administration of the fiscal year from 1 January 2006 to 31 December 2006. Item 3: Election of one auditor and one deputy auditor for the 2007 fiscal year and approval of their fees. For the audit of the 2007 fiscal year (1 January 2007 to 31 December 2007) the general meeting unanimously elected "BDO Protypos Hellenic Auditing Company S.A.", whose fee will be determined on the basis of decisions of the Supervisory Council of the Institute of Certified Public Accountants of Greece (SOEL). Mr Grigorios Koutras (SOEL register no. 13601) was elected as auditor and Mr Yorgios Vrettos (SOEL register no. 15651) as deputy auditor. Item 4: "Ratification of the decision of the Board of Directors regarding replacement of one of its members." The general meeting unanimously approved the election of the new board member Mr Loukas S. Liakos as a non-executive member. He replaces Ms Vasiliki N. Stamataki, who has resigned for personal reasons, for the remainder of the board's term. The aforementioned member was elected at the meeting of the company's Board of Directors on 21 May 2007 (minutes no. 446/2007). Item 5: Election of members of a new Board of Directors. The general meeting elected the following as members of the Board of Directors: Apostolos D. Terzopoulos Dimitrios Nanopoulos Paraskevi M. Paka Petros K. Nikolaidis Panagiotis N. Doumanoglou The company's Board of Directors will serve for a term of two years, i.e. until the ordinary general meeting to be held in the first half of 2009 to approve the financial statements and activities for the 2008 fiscal year. Item 6:Decision for the company to purchase own shares through the Athens Stock Exchange as laid down in Article 16(5-14 and 17) of Law 2190/1920. The general meeting decided on the purchase of own shares in an amount equalling up to 10% of all shares in the company, i.e. up to 3,151,161 shares, with a spread of between euro 3 (low) and euro 15.00 (high), and determined that the time period for the purchase of shares may not exceed 12 months from the date of the decision by the current general meeting of shareholders, as laid down in Law 2190/20. The general meeting then authorised the company's Board of Directors to make purchases of own shares, determining when and in what quantities, always within the limits decided on by the current general meeting, observing all the terms of the relevant legislative provisions. Item 7: Other business and announcements. No other business or announcements.
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