August 18, 2006
The Shareholders' Extraordinary General Meeting of NAOUSSA SPINNING MILLS S.A. was held today, at 10:30 a.m., at the Company's offices, οn Kifissou and 1 Konstantinoupoleos Street, Peristeri, in accordance with the invitation of the Board of Directors as of 07/24/2006 in order to discuss the following issues of the daily agenda:
1. Approval of the merger through absorption by NAOUSSA SPINNING MILLS S.A. of FANCO S.A., RODOPI SPINNING MILLS S.A. and GALLOP S.A., approval of the Merger Plan on 5/29/06 through absorption by the company of FANCO S.A., RODOPI SPINNING MILLS S.A. and GALLOP S.A. and of the BoD Review Report and Valuation reports on the merger.
2. Increase of the share's nominal value and decrease of the number of shares - Share capital increase through capitalization of reserves for the rounding of the shares' nominal value.
3. Share capital increase due to merger.
4. Modification of article 1 (trade name), 2 (objective) and 5 (share capital) of the Corporate Charter.
5. Share capital decrease, through offsetting of accumulated losses and respective decrease of the shares' nominal value.
6. Approval of the signing of the notary deed of the merger via absorption by the Company, of RODOPIS SPINNING MILLS S.A., of GALLOP S.A. and of FANCO S.A., according to article 74 C.L. 2190/20.
7. Miscellaneous approvals - announcements.
According to the Law and the Company's charter, approval of the above issues requires the presence or representation by proxy of shareholders holding more than 2/3 of the Company's shares amounting to 70,945,000 common nominal shares. Today's General Meeting did not gather the required by law quorum hence the issues of the daily agenda were not examined.
Following the General Meeting, the Board of Directors convened and decided to call the Shareholders' Repeat General Meeting on August 30, 2006, at 10:30 p.m. at the company's offices with the same daily agenda.
