ELBE: Does not distribute a dividend for the 2021 financial year

The non-distribution of dividends for the year 2021 was approved by the annual regular General Assembly of ELBE shareholders, which met today. At the same time, the assembly elected Mr. Paschalis Kayas as an independent member of the Board of Directors. replacing Ms. Eleni Papagaki and Mr. Ioannis Englesos as an independent member of the Board of Directors, replacing Mr. Henry Ronald Barkshire.

In more detail, based on the company announcement:

“The anonymous company with the name “ELVE SA” (hereinafter, the “Company”), announces, in accordance with the provisions of article 4.1.3.3. of the Regulation of the Athens Stock Exchange, that on August 8, 2022, Monday and at 9:00 a.m., the Annual Ordinary General Meeting of the Company’s shareholders was held, at the Company’s headquarters (Agios Andreas Kavalas). Seven (7) shareholders representing 2,761,027 participated in the General Meeting and voting in person or by proxy. shares and voting rights, i.e. 83.478% of the Company’s total paid-up share capital and voting rights. The Ordinary General Meeting of the Company’s Shareholders, being in a legal quorum, validly met on all agenda items, discussed and adopted the following decisions on them:

1. It decided unanimously, i.e. 100% of the current share capital, to approve the Annual Financial Statements of the corporate year 2020 (1/1/2021 – 12/31/2021), as well as the relevant reports of the Board of Directors and the Statutory Auditor.

2. It unanimously approved, i.e. 100% of the current share capital, the non-distribution of dividends.

3. It decided unanimously, i.e. 100% of the current share capital, to approve the paid fees of the Board of Directors for the year 2021 and the pre-approval of fees for the year 2022.

4. It unanimously approved, i.e. 100% of the current share capital, the overall management of the Board of Directors for the year 2021 and the exemption of the certified public accountant from any responsibility for compensation for the year 2021.

5. Elected unanimously, i.e. 100% of the current share capital, the audit company of certified auditors “S.OL. Certified Public Accountants S.A.” for the control of the company’s financial statements for the year 1/1-31/12/2022 and the overview of the interim financial information for the period 1/1-30/6/2022.

6. The audit committee report was presented.

7. Elected unanimously, i.e. 100% of the current share capital, Mr. Paschalis Kayas as an independent member of the Board of Directors. replacing Ms. Eleni Papagaki and Mr. Ioannis Englesos as an independent member of the Board of Directors, replacing Mr. Henry Ronald Barkshire.

8. The General Assembly was informed about the need for replacement by the Board of Directors. of Ms. Papagakis from the Audit Committee and the Remuneration & Nominations Committee.

9. The Remuneration Report for the fiscal year 2021 was submitted for discussion and approved unanimously, i.e. 100% of the current share capital.

10. It unanimously approved, i.e. 100% of the current share capital, the increase of the share capital by capitalizing part of the difference from the issue of shares at a premium, with an increase in the nominal value of the share from 0.21 euros to 0.51 euros and a simultaneous reduction of the share capital of capital with a cash return to the company’s shareholders in the amount of 992,250 euros, with a reduction of the nominal value of the share from 0.51 euros to 0.21 euros and amendment of article 5 par. 1 of the articles of association.

11. It approved unanimously, i.e. 100% of the current share capital, the participation of members of the Board of Directors in companies and company management bodies.

12. No other issues were discussed.

13. The Report of the Independent Non-Executive Members of the Board of Directors was submitted to the General Assembly. in accordance with article 9 par. 5 of Law 4706/2020″.