ELGEKA : Election of new member of Board of Directors for replacement of resigned and reestablishment of the Company’s Board of Directors

Company Announcements 2014

Election of new member of Board of Directors for replacement of resigned and reestablishment of the Company's Board of Directors

Thessaloniki, November 28th, 2014

"ELGEKA S.A." discloses, according to the Athens Stock Exchange Regulation, the article 6 par.1 of L. 3340/2005 and article 2 par. e of decision 3/347/12.7.2005 of Hellenic Capital Market Commission, as well as the L. 3016/2002 on Corporate Governance, that the Company's Board of Directors during its meeting on November 28th, 2014, elected as a new member Mr. Anthimos Vasilios Misailidis, to replace the resigned member, Mr. Leonidas Theodore Theoklitos, to cover both the vacancy arising on the Board of Directors after today's resignation of that member and the number of seven members elected by the Annual General Meeting on May 7th, 2014, as a legal composition. The election of the new member will be temporary and must be approved by the first General Meeting of Company's Shareholders. Thus, the mandate of the new member will expire at the time of expiration of the term of the other members of the Board of Directors, namely May 7th, 2018, capable to extend this until the election of a new Board of Directors of the next Annual General Meeting to be held after that date.

Mr. Leonidas Theoklitos resigned from his position as CEO and member of the Company's Board of Directors for personal reasons. The Board of Directors expresses its appreciations and recognition to Mr. Leonidas Theoklitos for the valuable services rendered to the Company and the Group in general.

Then, followed the re-establishment of the Board of Directors of the Company and it will henceforth have the following composition with the following properties:

1. Alexandros George Katsiotis, Chairman & CEO - Executive Member
2. Elli Drakopoulou, wife of Nikolaos, Vice - Chairman - Non - Executive Member
3. Anthimos Vasilios Misailidis, General Manager - Deputy CEO - Executive Member
4. Michael Emmanouil Fandridis, Non - Executive Member
5. Stilianos Marcos Stefanou, Independent Non - Executive Member
6. Nikolaos George Milios, Independent Non - Executive Member
7. Adamantios Athanasios Lentsios, Independent Non - Executive Member

Finally, it is noted that the delegation of responsibilities of Deputy Chief Executive Officer of the Company to its General Manager Mr. Anthimos Misailidis concerns the replenishment and perform of duties of Chief Executive Officer, Mr. Alexander Katsiotis in cases of his absence or any impediment.