ANNOUNCEMENT
PUBLIC POWER CORPORATION S.A. announces that the Extraordinary General Meeting of the Shareholders of the Company was held on Thursday, January 12, 2017, in accordance with the Invitation that has been posted on December 21, 2016, on the Company’s website: https://www.dei.gr/Documents2/%CE%93%CE%B5%CE%BD%CE%B9%CE%BA%CE%AD%CF%82%20%CE%A3%CF%85%CE%BD%CE%B5%CE%BB%CE%B5%CF%8D%CF%83%CE%B5%CE%B9%CF%82%202017/INVITATION%20EGM%2012012017%20.pdf
The Shareholders lawfully attending (in person or by proxy) the Extraordinary General Meeting were 161, representing 177,201,880 ordinary registered voting shares with a voting right out of a total of 232,000,000 ordinary registered voting shares, that is a quorum of 76.38%.
For the first item of the Agenda: “Procedures for the completion of the full ownership unbundling of the company “Independent Power Transmission Operator Societe Anonyme” (“IPTO”) from “Public Power Corporation Societe Anonyme” (“PPC”) pursuant to articles 142-149 of Law 4389/2016, as applicable [“the Law”], providing in particular for the,
• Establishment of the Holding Company of article 142, par. 2, item a) of the Law.
• Contribution of 51% of the share capital of IPTO to the Holding Company of article 142, par. 2, item a) of the Law.
• Decrease of PPC share capital and distribution in kind to its shareholders (carve out).
Following a request according to art. 39 para. 3, L. 2190/1920 as in effect, by the shareholder HRADF who holds 17% of PPC’s share capital, for the postponement of discussion and decision making on the first item of the agenda of the EGM, the meeting was postponed for January 17, 2017 at the same time and place as today’s EGM. The postponed EGM is a continuation of the previous one and there is no requirement for the reiteration of the formalities for the publication of the invitation to the EGM. New shareholders are able to participate in accordance to the provisions of article 27 para. 2 and article 28a of L. 2190/1920 as in effect.
For the second item of the Agenda: “Electricity Supply Contract between PPC S.A. and GMM LARCO S.A. ”, out of 177,201,880 votes in total with a voting right, 152,027,946 voted in favor (85.794%), 21,384,879 voted against (12.068%) and 3,789,055 abstained (2,138%).
Athens, January 12, 2017