31st Jul 2006 16:26
Hellenic Telecomms Organization S A31 July 2006 Announcement SECOND REPEATED 54TH GENERAL ASSEMBLY OF SHAREHOLDERS ATHENS, Greece - July 31, 2006 - Hellenic Telecommunications Organization SA(ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, todayheld its Second Repeated 54th Ordinary General Assembly of Shareholders duringwhich the company addressed the following agenda items: a) the cancellation of Treasury Shares b) the amendments to Article 5 (Share Capital), 25 (Absolute Quorum and Majority) and 33 (Profits Distribution), of the company's Articles of Association and its codification thereof and c) the authorization of the Board of Directors to increase the company's share capital or issue new shares, bond loans for amounts equal to the said share capital, as it was on the day of the said resolution of the General Assembly, within five (5) years from a related resolution of the General Assembly. The item was withdrawn as the Board of Directors of OTE, at its Board Meeting of June the 15th, 2006, decided to propose to the General Assembly not to discuss the item. Specifically, Shareholders approved: 1. Cancellation of 432,490 own shares following the three-year period since their acquisition with subsequent reduction of share capital (article 5 of the Company's Articles of Association) by an amount equal to the one of the shares cancelled, as per Article 16, para. 12 of Codified Law 2190/1920; transfer of the purchase proceeds to extraordinary reserves, 2. Approval of Amendments to the following Articles of Association: 5 (Share Capital), 25 (Absolute Quorum and Majority) and 33 (Profits Distribution), which following the amendments and remuneration approved by the 54th Annual General Assembly of Shareholders Meeting of June 22, 2006, are numbered 5, 24 and 32, respectively. Codification of the Articles of Association. About OTE OTE Group is Greece's leading telecommunications organization and one of thepre-eminent players in Southeastern Europe, providing top-quality products andservices to its customers. Apart from serving as a full service telecommunications group in the Greektelecoms market, OTE Group has also expanded during the last decade itsgeographical footprint throughout South East Europe, acquiring stakes in theincumbent telecommunications companies of Romania, Serbia and Armenia, andestablishing mobile operations in Albania, Bulgaria, the Former YugoslavRepublic of Macedonia and most recently in Romania. At present, companies inwhich OTE Group has an equity interest employ over 35,000 people in sevencountries, and our portfolio of solutions ranges from fixed and mobile telephonyto Internet applications, satellite, maritime communications and consultancyservices. Listed on the Athens Stock Exchange, the company trades under the ticker HTO aswell as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE'sAmerican Depository Receipts (ADR's) represents 1/2 ordinary share. Additional Information is also available on http://www.ote.gr. Contacts:OTE: Dimitris Tzelepis- Head of Investor Relations Tel: +30 210 611 1574, Email: [email protected] Nektarios Papagiannakopoulos - Senior financial analyst, Investor Relations Tel: +30 210 611 7593, Email: [email protected] Daria Kozanoglou - Communications Officer, Investor Relations Tel: +30 210 611 1121, Email: [email protected] Marilee Diamanti - IR Coordinator Tel: +30 210 611 5070, Email: [email protected] Christina Hadjigeorgiou - Financial Analyst Tel: +30 210 611 1428, Email: [email protected] Forward-looking statement Any statements contained in this document that are not historical facts areforward-looking statements as defined in the U.S. Private Securities LitigationReform Act of 1995. All forward-looking statements are subject to various risksand uncertainties that could cause actual results to differ materially fromexpectations. The factors that could affect the Company's future financialresults are discussed more fully in the Company's filings with the U.S.Securities and Exchange Commission (the "SEC"), including the Company's AnnualReport on Form 20-F for 2005 filed with the SEC on June 29, 2006. OTE assumes noobligation to update information in this release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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