Pursuant to the provisions of section 4.1.3.3 of the Regulation of the Athens Exchange, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Annual Ordinary General Meeting was convened on June 17th, 2020 at 10:00 hours at Athens Plaza hotel, Syntagma Square with shareholders being present representing a percentage of 76.74% of the share capital.
All items on the daily agenda were approved.
Item 1: The yearly 2019 Financial Statements (stand alone and consolidated), along with the relevant reports of the Board of Directors and of the Auditors were approved.
Item 2: Τhe overall management of the Company for the fiscal year 2019 was approved and the Auditors were discharged from any liability for damages with regard to the yearly 2019 Financial Statements.
Item 3: A new Board was elected as follows: Mr. Vardis J. Vardinoyannis, Mr. Yannis V. Vardinoyannis, Mr. John N. Kosmadakis, Mr. Petros T. Tzannetakis, Mr. Demosthenes N. Vardinoyannis, Mr. George P. Alexandridis, Mr. Michael – Matheos J. Stiakakis, Mr. Theofanis Chr. Voutsaras, , Mrs Niki D. Stoufi, Mr. Antonios Th. Theocharis, Mr. Anastasios – Elias Chr. Triandaphyllidis, Mr. Panayotis J. Constantaras. The last three BoD members are Non – Executive Independent in accordance with the provisions of the Corporate Governance Law 3016/2002. The organization of the BoD as a Body Corporate will take place shortly.
Item 4: The Audit Committee was appointed in accordance with the provisions of article 44 of the Law 4449/2017 as follows: Mr. Panayotis J. Constantaras – Chairman (Independent pursuant to the Law 3016/2002), Mr. George P. Alexandridis – Regular Member, Mr. Constantinos N. Thanopoulos – Regular Member (Independent pursuant to the Law 3016/2002). Substitute Member: Mrs Niki D. Stoufi.
Item 5: The distribution of company earnings for the fiscal year 2019 and the dividend amount of Euro 1.15 per share for the fiscal year 2019 was approved. Considering that an amount of Euro 0.35 per share was paid as interim dividend on December 17, 2019 the dividend remainder for the fiscal year 2019 equals Euro 0.80 per share. The General Assembly approved the ex-date, record date and payment commencement date as follows: Ex-dividend remainder date: Wednesday June 24th, 2020 – Record date: Thursday June 25th, 2020 – Payment commencement date: Wednesday July 1st, 2020. The payment of the year 2019 dividend remainder will be effected through a Payee Bank. The Company will provide details to the investment community in respect of the fiscal year 2019 dividend remainder payment with a subsequent announcement.
Item 6: Two Auditors, one ordinary and one substitute, were elected for the fiscal year 2020 and their fees were approved.
Item 7: The fees of the members of the Board of Directors for the fiscal year 2019 were approved and the respective fees for the fiscal year 2020 were pre-approved.
Item 8: The payment in advance of fees to Board of Directors members for the period until the next Ordinary General Meeting was approved in accordance with the provisions of article 109 of the Law 4548/2018.
Item 9: The distribution of part of the Net Income of the Financial Year 2019 of the Company to the Personnel and to members of the BoD was approved and the relevant authorizations were granted.
Item 10: A new share Buyback program (maximum number of Company shares to be bought: 5,000,000, maximum price Euro 18 per share, minimum price Euro 8 per share, program duration: 03 July 2020 – 27 May 2022, through the Member of the ATHEX PIRAEUS SECURITIES) was approved and the authorization to the Board for the procedural matters relating to the program was granted.
Item 11: The revised Remuneration Policy of the Members of the Board was approved in accordance with the provisions of article 110 of the Law 4548/2018.
Item 12: The report on the Company Directors’ Remuneration for the fiscal Year 2019 was approved in accordance with the provisions of article 112 of the Law 4548/2018.
Maroussi, June 17th, 2020
The Board of Directors
