25th Jun 2009 09:04
ANNOUNCEMENT
57th annual general assembly of shareholders
ATHENS, Greece - June 25, 2009 - 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 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.
About OTE
OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers.
Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria and Romania. At present, companies in which OTE Group has an equity interest employ over 30,000 people in five countries, and our portfolio of solutions ranges from fixed and mobile telephony to Internet applications, satellite, maritime communications and consultancy services.
Listed on the Athens Stock Exchange, the company trades under the ticker HTO as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE's American Depository Receipts (ADR's) represents ½ 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]
Maria Kountouri - Assistant to the Head of Investor Relations
Tel: +30 210 611 5381, Email: [email protected]
Nektarios Papagiannakopoulos - Senior Financial Analyst, Investor Relations
Tel. +30 210 611 7593, Email: [email protected]
Christina Hadjigeorgiou - Financial Analyst, Investor Relations
Tel: +30 210 611 1428, Email: [email protected]
Dimitris Tsatsanis - Financial Analyst, Investor Relations
Tel: +30 210 611 6071, Email: [email protected]
Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 1121, Email: [email protected]
Eftychia Tourna - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7236, Email: [email protected]
Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7880, Email: [email protected]
Forward-looking statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F for 2007 filed with the SEC on June 24, 2008. OTE assumes no obligation to update information in this release.
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