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items on the agenda. The Board of Directors may decline to provide such information citing sufficient
material grounds, and this should be recorded in the minutes. Such a reason could be, depending on
the specific cases, the representation of the applicant shareholders in the board of directors pursuant
to paragraphs 3 or 6 of article 18, C.L. 2190/1920, as currently in force. The Board of Directors may
provide a single answer to shareholders’ requests that are of similar content. The obligation to provide
information does not apply in the event that such information is already available through the Company’s
website, particularly in the case of frequently asked questions.
(viii) After the request of shareholders representing one fifth (1/5) of the paid-up capital of the Company,
and provided that the said request is given to the Company at least five (5) full days prior to the General
Assembly, the Board of Directors is obliged to provide the General Assembly with information on the
course of the business affairs and financial status of the Company. The Board of Directors may decline to
provide such information citing sufficient material grounds, and this should be recorded in the minutes.
Such a reason could be, depending on the specific cases, the representation of the applicant shareholders
in the board of directors pursuant to paragraphs 3 or 6 of article 18, C.L. 2190/1920, as currently in force.
provided the members of the Board of Directors have received the relevant information in an adequate
way.
(ix)
After the request of shareholders representing at least one twentieth (1/20) of the paid share capital, a
decision on any item on the agenda of the General Assembly is taken by a roll-call vote.
(x)
Company’s shareholders representing at least one twentieth (1/20) of the paid share capital have the
right to ask the Single-Member First Instance Court of the region where the company has its seat, for
an audit of the company, and the Court applies the voluntary jurisdiction procedure. The audit is ordered
if there is the possibility of actions that violate the provisions of the law or the company’s articles of
association or decisions of the General Assembly.
(xi)
Company’s shareholders representing at least one fifth (1/5) of the paid share capital have the right to
ask the court of the previous paragraph for an audit of the company, provided that it is believed that the
management of the corporate affairs is not applied as imposed by the prudent and sound management
principle. This provision is not applied in the cases the minority asking for the audit is represented in the
Company’s Board of Directors.
3. Board of Directors and Committees
Α.
(i) The Board of Directors is the body that exercises the management of the Company. It has the responsibility
of managing (managing and disposing) the company’s assets as well as of representing it, with the aim of
strengthening its economic value and efficiency and of safeguarding the company’s interests.
The Board of Directors has ordinary meetings at least one time per month and extraordinary meetings
whenever important issues arise or decisions need to be made. Usually, in the ordinary meetings are
present all the members of the Board of Directors. Thus far the Board of Directors has never postponed
making a decision because of lack of quorum. More specifically, during the course of the year 2013 the
Board of Directors convened sixty six (66) times. More specifically The Board of Directors as elected by the
General Assembly, forming the Board on 18.07.2011, have been replaced with the election of new members
by the General Assembly of 08.05.2013 attended during their term of 2013 the following sessions:
