Minority Rights
According to the company’s Articles of Incorporation and Law 2190/1920 as this was amended by Law 3604/2007, minority shareholders have the right per case to:
Allocation of Profits
According to the company’s Articles of Incorporation, allocation of profits is preceded by the withholding of the amount necessary for ordinary capital reserve a certain amount of earnings, to form legal reserves. Such withholding is no longer mandatory by way of law, when the capital reserve is equal to at least 1/3 of the paid-in share capital. The minimum permissible limit of the dividend is set at the greatest of 6% of the company’s share capital or 35% of net profits. The Articles of Incorporation allow for the General Assembly of Shareholders to decide to allocate the remaining profits at its own discretion.
Payment of Divident
The shareholders participate in the net profits of the company upon approval of the annual financial statements by the General Meeting of Shareholders. Dividents are paid to shareholders in accordance with the Athens Stock Exchange Regulation as in force from time to time.
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