“KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.”
Announcement concerning the decisions of the Ordinary General Assembly of shareholders
on 30 June 2008 as per article 278 §§ 1 & 2 of the Athens Exchange Rulebook.
The Ordinary General Assembly of the Shareholders held on 30 June 2008 has decided the following upon the issues of the daily agenda by quorum of 72.60% of shares (i.e. 11,028,350 shares out of a total of 15.190.320) and by 100% majority (i.e. 11,028,350 shares out of the total 11,028,350 shares present at the General Meeting):
1+2) The financial statements for the period 01.01.2007 to 31.12.2007 as well as the relative reports by the Board of Directors and the Auditor were approved.
3) The members of the Board of Directors and the Auditor were released from any liability for compensation arising from the financial statements and the administration and management in general of the period 01.01.2007 to 31.12.2007.
4) The auditing firm “SOL S.A.” (Reg. N. SOEL 125) was elected as Auditors for the period 1 January 2008 to 31 December 2008. Regular Auditor is Mr. Meletios Siastathis (Reg. N. SOEL 12181) and substitute Mrs. Galanopoulou Konstantia (Reg. N. SOEL 12931).
5) The distribution of dividend to the shareholders amounting to € 531,661.20 which equals to € 0.035 dividend per share was approved.
Beneficiaries of the dividend for the year 2007 are all shareholders at the end of the trading session of Athens Exchange on 7 August 2008. The ex-dividend date will be on 8 August 2008. Thus, shares will be traded on Athens Exchange from 8 August 2008 with no right to the dividend for the period 01.01.2007 to 31.12.2007. The distribution of dividend will commence on 18 August 2008. The distribution of dividend will be made through PIRAEUS BANK S.A. according to relevant announcement of the company.
6) The remuneration and expenses paid to members of the Board of Directors and to Auditors were approved and their relevant future remuneration and expenses were fixed.
7) The terms of floatation of a common bond loan amounting to € 5,000,000 were approved and defined. Said terms are in accordance with the provisions of Law 3156/2003 and will be further defined with the relevant contract. “EMPORIKI BANK OF GREECE S.A” and “EMPORIKI BANK CYPRUS LTD” will be the bonded creditors. The purpose of said common bond loan is to raise new funds for the Company to use for settling an equal debt towards “EMPORIKI BANK OF GREECE S.A” for current working capital. Said capital has been used by the Company for buying new yachts in the context of the constant renewal of its fleet and for paying off older loans that had been taken for the same purpose.
8) The amendment, replenishment, abrogation and renumbering of the provisions of the Articles of Association with the purpose of adaptation to the Law 3604/2007 and the improvement of its functionality was approved in accordance with the relevant announcement of 26 June 2008 which has been posted at the Athens Exchange website www.athex.gr and at the Company’s website www.kiriacoulis.com.
Athens, 30 June 2008
