GENERAL ASSEMBLY 2009 PRESS RELEASE
The General Assembly approved a dividend payment of EUR 2,84 mil euros, equivalent to 0.12 euros per share and a dividend yield of 6.38% as compared to the 3.51% of 2007. The date of determination of the beneficiaries of the dividend is set as the Friday 17th July 2009. The beneficiaries of the dividend are those persons registered in the records of the DSS on the above-mentioned date of determination of beneficiaries (record date). The ex date is set as the Wednesday 15th July 2009. The payment of the dividend of the financial year 2008 will start on Thursday 23rd 2009.
Furthermore, within the framework of the General Assembly that took place with the participation of 73,04% of the company's share capital, there was a unanimous approval of the Company's Annual Financial Statements, for the fiscal year 01/01-31/12/2008, as well as of the Board of Directors' and the Auditors' Reports for the same period.
A new Board of Directors was also elected, increasing its membership from five to seven people. The Board consists of Messrs: Nicholaos K. Koukountzos, Menelaos K. Koukountzos, Konstantinos N. Koukountzos, Dimitrios A. Daios, Stergios N. Georgalis and the newly appointed Mr. Vassilios T. Ziogas and Koukountzos N. Nicholaos. Accordingly, the same Meeting has also appointed the Audit Committee and the members who compose it.
During the General Meeting, the chairman of Kleemann, Nicholaos K. Koukountzos pointed out the actions that take place within the Group in order for it to adapt to the new economic environment. More specifically, he spoke about the rationalization of costs and the intensification of export activities to new markets and the production-trading of new products (escalators, parking systems, solutions for the disabled persons, antiseismic -lift, etc.).
In the meantime, the president of the company referred to the improved liquidity of the group, based on which there is unhindered financing of its operating and investment program needs, while at the same time there is a possibility created to reduce net borrowing.
Finally, the president, Mr Nikolaos N. Koukountzos, announced that the shareholders of the minority of the subsidiary company "Moda Cabina" who hold the 15% of Moda Cabinas' share capital opted out their participation in the company on 22/06/2009. Kleemann acquired the above percentage after an agreement with the shareholders of the 15%. According to the law and the Articles of Association an increase of the share capital will take place in the amount of 1.000.000 euros which will be covered in whole from the parent company.