Announcement for the recomposition of the BoD.

“HELLENIC PETROLEUM S.A.” announces to the investors that, at the Special Meeting of the Company’s Minority Shareholders convened on 28.12.2009, at 10:00 a.m., forming the quorum stipulated in the Articles (since 171 shareholders representing 20,249,522 shares/ votes, namely 25.92% of the paid-up company capital of the minority, attended the meeting), two (2) new members were elected by majority decision in the company’s BoD as minority shareholders’ representatives, namely Messrs Theodoros Pantalakis and Spyridon Pantelias, in replacement of equivalent resigned members.

 

At the subsequent Extraordinary General Shareholders’ Meeting of the Company convened on 28.12.2009, at 12:00 p.m., forming increased quorum (since 192 shareholders representing 250,801,871 shares/ votes, namely 82.06% of the paid-up company capital,  attended the meeting), the shareholder Greek State appointed five (5) members to the Company’s BoD, namely Messrs Dimokritos Amallos, Alexandros Katsiotis, Dimitrios Lalas, Gerasimos Lahanas and Anastasios Banos, in replacement of equivalent resigned members thereof.

 

In addition, at the aforementioned Extraordinary General Shareholders' Meeting of the Company, the remunerations and compensations to the BoD members were pre-approved by majority decision, while, as to the annual remuneration of the BoD Chairman, Mr. Anastasios Giannitsis, and the Chief Executive Officer, Mr. Ioannis Costopoulos, the General Meeting, accepting the respective proposal by each of them, decided to decrease their annual remunerations for the year 2010 by 15%.

 

Finally, at the aforementioned Extraordinary General Meeting, it was decided by majority to establish an Audit Committee of the Company, pursuant to article 37 of Law no. 3693/2008, consisting of the following members:

 

1. Spyridon Pantelias, Chairman
2. Anastasios Banos, Member
3. Dimokritos Amallos, Member

 

Following the above, the Board of Directors that convened promptly after the meeting, by its decision no. 1146/28.12.2009 constituted into body and determined the qualities of its members, as executive or non-executive ones, pursuant to the provisions of Law no. 3016/2002 on Corporate Governance, and its composition is as follows: