February 02, 2017

Decisions of the EGM-Voting Results


'THRACE PLASTICS CO S.A.' announces that on Thursday, February 2, 2017 and at 12:30 p.m. the Extraordinary General Meeting of Shareholders took place at the Company's registered offices i

The Societe Anonyme under the name 'THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME' and the distinctive title 'THRACE PLASTICS CO S.A.' (hereinafter named the 'Company' for abbreviation purposes), announces that on Thursday, February 2, 2017 and at 12:30 p.m. the Extraordinary General Meeting of Shareholders took place at the Company's registered offices in Magiko, Municipality of Avdira, Prefecture of Xanthi, Greece.

The Extraordinary General Meeting was attended by, either in person or via a legal representative, twenty (20) shareholders in total, holding 33,727,386 common registered shares and equivalent voting rights or namely 74.792% of the Company's share capital and voting rights.

It is noted that for 1.353.168 common registered shares, voting rights are suspended according to those stated in article 16, paragraph 8 of C.L. 2190/1920 as such refer to the Company's treasury shares. Therefore the above shares are not accounted for by the Meeting for the purposes of the quorum.

The Extraordinary General Meeting of the Company's Shareholders proceeded with the following decisions on the daily agenda items as presented below, based on the voting results for each item, in accordance with article 10 of L. 3884/2010. The above items and the decisions have been also posted on the Company's legally registered website (www.thracegroup.gr).

On the 1 item the shareholders unanimously approved the decrease of the Company's share capital by a total amount of eight hundred ninety three thousand, ninety Euros and eighty eight cents (893,090.88 €), which will be implemented via the reduction of the total number of Company's shares from 45,094,620 to 43,741,452 common registered shares, due to cancellation according to the article 16 of the Codified Law 2190/1920, as is currently in force, of the entire number of treasury shares of the Company and specifically of 1,353,168 own shares, of which:

a) 1,132,614 treasury shares were purchased by the Company in execution / implementation of the decision of the Extraordinary Shareholders' Meeting on 29.12.2014, whereas

b) 220,554 treasury shares were purchased during the previous stock repurchase plan concerning the period 2012 - 2014 in execution of the respective decision of the Annual General Shareholders' Meeting of 20.04.2012.

At the same time, the Extraordinary General Meeting of shareholders approved the respective, according to the above presented resolution, amendment of the article 5 of the Company's Articles of Association in the form which was precisely announced and published by the Company (according to article 27, paragraph 3, case d' of the P.L. 2190/1920).

Number of shares for which valid votes were given: 33,727,386

Percent of share capital: 74.792%

Total number of valid votes: 33,727,386

In favor: 33,727,386

Against: 0

Abstention (present): 0

On the 2 item the shareholders unanimously approved the share repurchase plan of the Company according to article 16 of P.L. 2190/1920 as it is currently in effect. Specifically, they approved the purchase within a period of twenty four (24) months from the current decision's date namely until 02.02.2019 at the latest, of up to 4,374,145 common registered shares or 10% of the Company's outstanding shares (today at 43,741,452 as result of the approved decision for share capital decrease via the reduction of the total number of shares, due to cancellation of treasury shares), with a purchase price range from one Euro and fifty cents (1.50 €) to three Euros and fifty cents (3.50 €) cents. Furthermore, the General Meeting of shareholders approved the granting of the relevant authorizations to the Board of Directors of the Company for the implementation of the above plan within the time framework defined above.

Number of shares for which valid votes were given: 33,727,386

Percent of share capital: 74.792%

Total number of valid votes: 33,727,386

In favor: 33,727,386

Against: 0

Abstention (present): 0

On the 3 item the Company made a general presentation of the Group's current activities.

Xanthi, 2 February 2017

For «THRACE PLASTICS Co. S.A.»

Thrace Plastics Co. SA published this content on 02 February 2017 and is solely responsible for the information contained herein.
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