Industrialen Bulgaria AD : Decisions and Minutes from the IHB AGM on 21 June 2016

DECISIONS
of the ANNUAL GENERAL MEETING
OF SHAREHOLDERS OF INDUSTRIAL HOLDING BULGARIA AD
21 June 2016, Sofia City, 16-20 Alabin Street, at the building of the
Bulgarian Industrial Association

1. Acceptance of the Activity Report of the Company for 2015 and the Consolidated Activity Report of the Company for 2015
   Decision: The General Meeting of the Shareholders accepts the Activity Report of the Company for 2015 and the Consolidated Activity Report of the Company for 2015.
2. Acceptance of the Report of the Registered Auditor for the audit made of the Annual Financial Statements of the Company for 2015 and the Report of the Registered Auditor for the audit made of the Consolidated Annual Financial Statements of the Company for 2015.
   Decision: The General Meeting of the Shareholders accepts the Report of the Registered Auditor on the audit made of the Annual Financial Statements for 2015 and the Report on the audit made of the Consolidated Annual Financial Statements of the Company for 2015.
3. Acceptance of the Annual Financial Statements of the Company for 2015 and the Consolidated Financial Statements of the Company for 2015
   Decision: The General Meeting of the Shareholders accepts the Annual Financial Statements of the Company for 2015 and the Consolidated Financial Statements of the Company for 2015
4. Adopting of a decision for allocation of the earnings of the Company for 2015.
   Decision: The General Meeting of the Shareholders adopts a decision for allocation of the earnings of the Company for 2015 amounting to BGN 10 334 435, 50 (ten million three hundred thirty four thousand four hundred thirty five leva and fifty stotinki) as follows:
   - 862 124,25 (eight hundred sixty two thousand leva one hundred twenty four leva and twenty five stotinki) of the earnings of the Company for 2015 to be allocated to the Reserve Fund;
   - The rest BGN 9 472 311,25 (nine million sour hundred seventy two thousand three hundred and eleven leva and twenty five stotinki) to remain as retained earnings of the Company.
5. Report on the Activity of the Investor Relations Director for 2015.
6. Report on the Activity of the Audit Committee of the Company for 2015.
7. Report on implementation of remuneration policy for members of the Supervisory and Managing boards of 'Industrial holding Bulgaria' AD 2015
8. Release from liability of the members of the Manager Board and the Supervisory Board for their activities in 2015.
   Decision: The General Meeting of the Shareholders releases from liability for their activities in 2015:
   As members of the Supervisory Board
   - Snezhana Ilieva Hristova
   - Konstantin Kumov Zografov
   - DZH AD, represented by Elena Petkova Kircheva.
   As members of the Management Board:
   - Bozhidar Vasilev Danev for the period as of 01.01.2015 till 08.07.2015,
   - Daneta Angelova Zheleva
   - Emilian Emilov Abadjiev
   - Borislav Emilov Gavrilov
   - Boyko Nikolov Noev
9. Determining of the remuneration of the members of the Supervisory Board and the Management Board of the Company for 2016.
   Decision: The General Meeting of the Shareholders determines the monthly remuneration of the members of the Supervisory Board and the Management Board of the Company for 2016 amounted to 1000 leva.
10. Adopting of a decision for renewal of the mandate of the members of the Audit Committee of the Company and their remuneration.
    Decision: The General Meeting of the shareholders elects for a new 3-year mandate as members of the Audit Committee Snezhana Ilieva Hristova, EGN 5004276655, Maksim Stanev Sirakov, EGN 5206046704 and Boryana Vladimirova Dimova. It sets a monthly remuneration of BGN 500 each.
11. Adopting of a decision for prolongation of the decision for share buyback of 'Industrial Holding Bulgaria' AD, adopted by the General meeting of the shareholders dated 17.12.2012.
    Decision: On the grounds of Article 187b, para 1, point 2 of the Commercial Act, the General Meeting of the shareholders adopts a decision for prolongation of the term of share buyback of 'Industrial Holding Bulgaria' AD with 1 more year, i.e. up to 5 /five/ years from the adopting of the decision, with all other parameters (maximum buyback price, minimum buyback price etc.), according to the decision of the General Meeting of the shareholders dated 17.12.2012.
12. Selection of a registered auditor of the Company for 2016.
    Decision: The General Meeting of the Shareholders selects the recommended by the Audit Committee registered auditor of the Company for 2016 - Ernst & Young Audit OOD.

Minutes from the AGM (in Bulgarian)