Shareholder Rights

The Company’s share capital amounts to € 5,732,217.60 and is divided into 15,492,480 shares, of nominal value € 0.37 each.

Each share incorporates all the rights and obligations that are stipulated by the Law and the Company’s Articles of Association, which however do not contain provisions that may be more restrictive than those provided by the Law. The ownership of the share title entails by right the acceptance by its owner of the Company’s Articles of Association and the General Shareholders’ Meetings legal resolutions.

The Company’s Articles of Association do not include particular interests in favour of certain shareholders.

All Company shares are freely traded.

The shareholders’ responsibility is limited to the nominal value of the shares held. Shareholders participate in the Company’s management and earnings, according to the Law and the provisions of the Articles of Association. The rights and obligations emanating from each share are devolved on any universal or special successor of the shareholder.

The Shareholders exercise their rights in relation to the Company’s Management only through the General Meetings.

Shareholders enjoy a right of preference in any future Share Capital increase of the Company, depending on their participation in the Company’s existing share capital, as stipulated in article 13 §5 of Codified Law 2190/1920.

In no case may the lenders and the universal or special successors of a shareholder provoke the seizure on any of the Company’s assets, the seizure or termination of its books, or request for its distribution or liquidation. Additionally, the above persons are by no means entitled to participate in the Company’s management or administration.

As regards to the relationship between the shareholder and the Company, each shareholder, no matter where he/she resides, is considered to have as a legal residence the Company’s domicile, and is governed by Greek Law. Any type of dispute between the Company and shareholders and/or third parties is under the sole jurisdiction of the Ordinary Courts of law. The Company is obliged to present its arguments only in front of the courts, which are located in its domicile.

Each share incorporates one voting right. Joint shareholders, in order to exercise their voting rights, should in written form declare a certain representative who will represent them in the General Shareholders’ Meeting. The exercise of their voting rights will be postponed until the specification of their representation.

Every shareholder is entitled to participate in the General Shareholders’ Meeting, either in person or by a legally authorized representative. Shareholders who wish to participate in the General Meeting, according to article 51 of Law 2396/96, must block the shares they hold and receive the respective Share Block Certificate issued by the Central Securities Depository, which they must then deposit to the Company’s registered offices at least five (5) days prior to the date of the General Meeting. The submission of the aforementioned certificate corresponds to verification of the share deposit.

Shareholders who do not comply with the above may participate in the General Meeting only with the permission of the latter.

Shareholders, representing 5% of the paid in Share Capital, have the right to:

a. Request from the Company Court of the First Instance the appointment of one or more auditors to audit the Company, according to articles 40,40e of L.2190/1920  and

b. Request the convention of an Extraordinary General Shareholders’ Meeting. The Board of Directors is obliged to convene the Meeting in no more than thirty (30) days from the application date to the Chairman of the Board of Directors. In the application, applicants are obliged to refer to the issues on which the General Meeting will decide.

Each shareholder has the right to request, ten (10) days prior to the Ordinary General Meeting, the annual financial statements and relevant Board of Directors and Auditors’ reports.

The dividend for each share is paid to its holder within two (2) months from the date of the Ordinary General Meeting, which approved the annual financial statements, with the demonstration of the dividend receipt at the Company’s headquarters or in any other defined place. The payment time and manner is announced through a Press Release.

The dividends not claimed for five years are dismissed in favour of the Greek State.

With regard to the share deposit procedure, in order for each shareholder to participate in the Company’s General Shareholders’ Meetings and the dividend payment process, regulations will be applied, as defined by the current Clearing and Settlement Operation of the Central Securities Depository’ Dematerialized Securities System.