Investor Relations - 24.06.2014

Resolutions of the Ordinary General Meeting of PPC SA Shareholders

                                                      ANNOUNCEMENT 



PUBLIC POWER CORPORATION S.A. announces that on Friday, June 20, 2014, the 12th Ordinary General Meeting of Shareholders was held in accordance with the Invitation to the General Meeting which was published on May 29, 2014 pursuant to the provisions of the Law and its Articles of Incorporation and was posted on the Company’s website at the link:
http://www.dei.gr//Documents2/OGM200614/OGMINVITATION200614.pdf  

In the Ordinary General Meeting of Shareholders there were legally presented (in person or by proxy) 343 shareholders, representing 176,494,360 common registered shares with voting right on a total of 232,000,000 common registered shares with voting right, that is a quorum of 76.08%.

The following items of the Agenda were discussed and approved by the Ordinary General Meeting of Shareholders:

ITEM ONE: Submission for approval of PPC S.A. stand alone and consolidated Financial Statements for the 12th fiscal year (from 1.1.2013 to 31.12.2013), and of the revised Financial Statements of the previous fiscal year (from 1.1.2012 to 31.12.2012), as well as approval of the Unbundled Financial Statements pursuant to article 141 of Law 4001/2011, which replaced article 20 of Law 3426/2005.

In particular, in a total of 176,494,360 votes, 176,229,950 voted in favor (99.850%), 46,647 voted against (0.026%), 217,763 voted abstention (0.124%).

ITEM TWO: No distribution of dividends for the fiscal year starting on 1.1.2013 and ending on 31.12.2013.

In particular, in a total of 176,494,360 votes, 176,449,860 voted in favor (99.975%), and 44,500 voted abstention (0.025%).

ITEM THREE: Release of the members of the Board of Directors and of the certified auditors-accountants from any responsibility for compensation concerning the fiscal year from 1.1.2013 to 31.12.2013, pursuant to article 35 of Codified Law 2190/1920.

In particular, in a total of 176,494,360 votes, 176,059,401 voted in favor (99.754%), 81,117 voted against (0.046%), 353,842 voted abstention (0.200%).

ITEM FOUR: Appointment of certified auditors for the fiscal year from 1.1.2014 to 31.12.2014, pursuant to the applicable articles 30 and 31 of the Articles of Incorporation of the Company and approval of the certified auditors’ remuneration for the abovementioned fiscal year.

In particular, in a total of 176,494,360 votes, 158,172,868 voted in favor (89.619%), 17,123,773 voted against (9.702%), 1,197,719 voted abstention (0.679%). 
 
ITEM FIVE: Approval of the policy for third party civil liability insurance for the Members of the Board of Directors and the Officers of PPC S.A. and its subsidiary company “PPC Renewables S.A.”.

In particular, in a total of 176,494,360 votes, 175,958,887 voted in favor (99.697%), 317,710 voted against (0.180%), 217,763 voted abstention (0.123%).

ITEM SIX: Approval of the remuneration and compensation paid to the Members of the Board of Directors of the Company for the fiscal year from 1.1.2013 to 31.12.2013 and pre-approval of the gross remuneration and compensation to be paid for the fiscal year from 1.1.2014 to 31.12.2014.

In particular, in a total of 176,494,360 votes, 176,127,268 voted in favor (99.792%), 322,592 voted against (0.183%), 44,500 voted abstention (0.025%).

ITEM SEVEN: Abolition of article (19) and amendment of articles (3), (7), (9), (12), (20), (22), (31) and (35) of PPC S.A. Articles of Incorporation, as well as Codification – Consolidation into a single document.
In particular:
For the articles (7), (12), (20), (22), (31) and (35) in a total of 176,494,360 votes, 176,132,150 voted in favor of (99.795%), 317,710 voted against (0.180%), 44,500 voted abstention
(0.025%).
For the articles (9) and (19), in a total of 176,494,360 votes, 169,414,761 voted in favor of (95.989%), 317,710 voted against (0.180%), 6,761,889 voted abstention (3.831%).
For the article (3), in a total of 176,494,360 votes, 176,127,268 voted in favor of (99.792%), 322,592 voted against (0.183%), 44,500 voted abstention (0.025%).

It is noted that the Management of the Company estimates that the amendment of article (3) concerning the Company’s Scope of activities, will not have any significant impact on its financial position, therefore the Company is not required to issue an information memorandum.

ITEM EIGHT: Approval of the provision of guarantees by PPC S.A. to its subsidiaries for debt financing.

In particular, in a total of 176,494,360 votes, 176,111,916 voted in favor (99.783%), 337,944 voted against (0.192%), 44,500 voted abstention (0.025%).


Athens, June 23, 2014 

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