Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, yesterday held its 57th Annual General Assembly of Shareholders, during which 58.89% of its shareholders were present.
During the meeting, shareholders approved:
• The Management Report of the Board of Directors, the Audit Report prepared by Certified Auditors on the stand-alone and consolidated financial statements of OTE SA of 31/12/2008, including the annual financial statements (both stand-alone and consolidated) of 31/12/2008. They also approved the distribution of a €0.75 dividend per share. The ex-dividend date will be June 29, 2009, the record date will be July 1, 2009, while dividend payment will commence on Tuesday, July 7, 2009 through Piraeus Bank in accordance with the Athens Stock Exchange and the dematerialized Securities system.
• The exoneration of the members of the Board of Directors and the Auditors of all liability for fiscal year 2008, pursuant to article 35 of Codified Law 2190/1920.
• The appointment of Chartered Auditors Ernst & Young for the Ordinary Audit of the financial statements (both stand-alone and consolidated) according to the International Financial Reporting Standards for the fiscal year 2009 and determination of its fees.
• The remuneration paid to the members of the Board of Directors, the Audit Committee and the HR Remuneration Committee for fiscal year 2008 and determination of their remuneration for 2009.
• The remuneration paid in 2008 to the Chairman of the Board of Directors and CEO, determination of a special premium based on efficiency for fiscal year 2008 and determination of his remuneration for 2009.
• The basic terms and conditions of a project to be assigned to the member of the Board, Mr. Kevin Copp and to the CEO, pursuant to article 23a of the Law 2190/1920, and authorization to conclude such contract.
• The renewal of agreement for the covering of civil liability of members of the Board of Directors and the company’s executive directors in the exercise of their responsibilities, duties or authorities.
With regards to the amendments to the terms of the stock option plan for executives of the Company and affiliated companies, according to article 42ε of the Codified Law 2190/1920, this was not discussed due to the absence of the required quorum of 2/3 of the share capital, in accordance with applicable law and the company’s Articles of Incorporation. As a result, the company will hold a repeated General Assembly of Shareholders.
The Annual General Assembly also elected a new ten-member Board of Directors for a three year term, pursuant to the relevant Articles of the company’s Articles of Incorporation, and appointed the independent members of the Board of Directors.
Following the conclusion of the Annual General Assembly of Shareholders, ΟΤΕ’s Board of Directors now comprises of:
Panagis Vourloumis Chairman / CEO, Executive member
Haralambos Dimitriou Vice-Chairman, Non-Executive member
Iordanis Aivazis Executive member
Kevin Copp Executive member
Hamid Akhavan-Malayeri Non-Executive member
Guido Kerkhoff Non-Executive member
Leonidas Evangelidis Non-Executive/Independent member
Kostantinos Michalos Non-Executive/Independent member
Yannos Benopoulos Non-Executive/Independent member
Panagiotis Tabourlos Non-Executive/Independent member
The General Assembly of Shareholders also elected the Audit Committee which comprises of independent members of the Board, Mr. P. Tabourlos, (President of the Committee), Mr. L. Evaggelidis (member), Mr.I. Benopoulos (member).
Mr. Iordanis Aivazis, who is elected member of the Board of Directors of OTE SA for the first time, holds a degree in Economics from Athens University, a Master of Arts (MA) in Marketing and Finance from Lancaster University, UK, as well as a Postgraduate Diploma in Industrial Economics from the same university. He speaks English and French.
Between 1980 and 2001 he worked in the Banking sector, holding senior managerial positions. After pursuing a career in banking he joined the OTE Group in February 2001. Since then he has been member of the Board of Directors and Executive Vice President of OTE Investments. In March 2003, he was appointed OTE Group Chief Financial Officer and from April 2004 until June 2007 he served as Chief Financial Officer of OTE SA.
Since June 2007 he has served as Chief Operating Officer of OTE SA.
