Composition and term of the BoD

Announcement Share capital decrease

20 July 2017

Pre-emption right of share capital return 2017

8 September 2017

Published on 29 July 2017

1. 1. 1. The Company is managed by the Board of Directors which is constituted of seven (7) to eleven (11) members. Member of the Board can even be a legal person, which is obliged to designate a natural person in order to exercise its powers as a member of the Board of Directors. That designation is subjected to publicity, under the terms of Articles 12 and 13 of Law 4548/2018. The natural person is jointly and severally liable with the legal entity for corporate management. Failure by the legal person to designate a natural person for the exercise of the respective powers within fifteen (15) days of the appointment of the legal person as a member of the Board of Directors shall be deemed to be a waiver of the legal person from its capacity as a Member of the Board.
    2. The members of the Board of Directors are elected from the General Assembly for a 3 years term, pursuant to Articles 83 and 84 of the Law 4548/2018. The tenure of the members of the Board of Directors is extended until the end of the deadline, during which the next regular General Assembly must be composed and until its decision.
    3. The members of the Board of Directors are distinguished in executive, non-executive and independent members, subject to the conditions and consequences of Law 3016/2002 and Law 4706/2020, as in force.
    4. The number of non-executive members of the Board of Directors shall not be less than 1/3 of the total number of members, whilst among the non-executive members there must be at least two independent members, according to art.4 of Law 3016/2002 and art. 9 of Law 4706/2020.
    5. The members of the Board of Directors are always re-elected and freely recovered.