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IKTINOS HELLAS S.A. 2006

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Decisions of the Ordinary General Meeting

03.05.2018

It is hereby announced that at the Ordinary General Meeting of the Company's shareholders held on May 3, 2018, at the Company's headquarters (Lykovrisis 7, Metamorfosi, Attica, 144 52), at 12:00 pm, shareholders were present or represented, holders of 22.330.702 shares in a total of 28.580.100 shares, which corresponds to a percentage of 78,13 % of the share capital. The decisions taken are the following:

1. On the 1st issue, the financial statements for the fiscal year 01/01/2017 - 31/12/2017, as well as the reports of the Board of Directors and the Certified Auditor-Accountant were approved (in favor 100% of those present – against 0%).

2. On the 2nd issue, the distribution of a dividend amounting to 0,0692720836 Euro per share was approved. From this amount the relevant tax of 15% is deducted, according to the provisions of article 44 par. 4 of Law 4389/2016 and therefore the total paid amount of the dividend per share will amount to 0,0559262711 Euros. (in favor 100% of those present – against 0%).


The company holds own shares and, according to the legislation in force, the dividend corresponding to the 113.979 shares held by the Company increases the dividend of the remaining shares and therefore the total gross amount per share will amount to 0,07 Euro and the net amount to 0.0595 per share.
The cut will take place on Monday 14-5-2018, beneficiaries of the record date are the stock holders after the meeting of the Athens Stock Exchange on Tuesday 15-5-2018. The payment date is Friday 18-5-2018 and will be conducted through ALPHA Bank as followed:

- Through the DSS Operators, for the investors who have authorized their Operators for the collection. - Through the ALPHA Branch Network for the shareholders who have requested an exemption from their operator in the SA. T. or have their shares in their Special Account. - By depositing in the International Bank Account Number (IBAN), where the investor has stated that he wishes to receive the distributed amounts according to article 13 of the DSS Operation Regulation and the decision of the Board of Directors No. 6 of the ATHEXCSD, as applicable, for investors who do not wish to receive them through their Operators. It concerns only investors who have declared IBAN to the paying Bank.
- For those of the shareholders that cann
ot be credited via IBAN then it will be possible to collect the dividend through the ALPHA Branch Network, by presenting the identity card and presenting the printing of the DSS data or to legally authorized persons upon presentation of a certified copy of the authorized Shareholder's signature


3. On the 3rd issue, the General Meeting approved the exemption of the members of the Board of Directors and the Certified Auditors Accountants from any responsibility for compensation for the performance of the year 2017. (in favor
100% of those present – against 0%).

  
4. On the 4th issue, the General Meeting approved the election of regular and alternate Certified Auditors of Grant Thornton for the audit of the financial statements for the financial year 01/01/2018 - 31/12/2018. Specifically, Mr. Ioannis V. Nikolaos was elected as the Regular Auditor, with the Audit Firm SOEL 29301 and as alternate Certified Auditor, Mr. Manolis G. Mihalios, with SOEL 25131. (in favor
99,99% of those present – against 0,01
%).


5. On the 5th issue, the General Meeting approved in accordance with article 23 par. 1 of Codified Law 2190/1920, the granting of authorization to the members of the Board as they participate in Boards of Directors and management bodies of other companies that seek competitive or non-company purposes. (in favor
99,98% of those present – against 0,02
%).

6. On the 6th issue, the General Meeting approved the fees paid to the members of the Board of Directors, executive and non-executive, during the year 2017 and the pre-approval of the fees and other benefits to the members of the Board of Directors for the year 2018. (in favor
99,99% of those present – against 0,01%).


7. On the 7th issue, the General Meeting approved the guarantees by issuing letters of guarantee to subsidiaries. (in favor 100% of those present – against 0%).

 

8. Other announcements
The results for the year 2017 were as followed:
1. Turnover amounted to Euro 47.6 million while the corresponding amount in the year 2016 amounted to eEuro 31.7 million. Thus, the increase amounted to Euro 15.9 million of 50.07%. Exports are the 95.15% of the turnover in this year and the export rate has now stabilized at more than 90% of turnover.
2. The gross profit amounted to Euro 28.1 million while the corresponding amount in the year 2016 amounted to Euro 13.8 million. Thus, the increase amounted to Euro 14.3 million of 103.96%.
3. EBITDA amounted to Euro 19 million, while the corresponding amount in the year 2016 amounted to Euro 7.5 million, an increase of Euro 11.6 million, while the Group's earnings before tax, finance, depreciation and amortization (EBITDA) were increased by 154.83%.
4. Earnings before taxes amounted to Euro 14.9 million while the corresponding amount in the year 2016 amounted to Euro 1.4 million. There was an increase of Euro 13.5 million and 957.57%.
5. Net profit after taxes amounted to Euro 10.2 million while the corresponding amount in the year 2016 amounted to Euro 0.1 million. There was an increase of Euro 10.1 million and 9,215.56%.
6. The value of participation in IDEI has been impaired by Euro 2 million for 2017, while for 2016 the impairment amounted to Euro 4 million.
7. Loan liabilities for the year 2017 amounted to Euro 12.23 million while for the year 2016 it was Euro 13.78 million, ie decreased by Euro 1.55 million.
The prospects for 2018 are very good, the company continues with the same dynamic growth rate (as a result of increased production and exploitation of mineral wealth, bulk), resulting in increased sales.
During the quarter 1/1 / -31 / 3/18 achieved the following:
a) Sales of Euro 11.7 million versus Euro 6.6 million in 2016 (an increase of 78%).
b) EBITA was at Euro 2.9 million Euro versus Euro 1.4 million Euro in 2016 (106% increase).
The prospects are even more auspicious after the purchase of the factory in the Drama Industrial Area which is expected to be fully operated in the second half of 2018. The total investment will amount to Euro 10 million of which Euro 7 million will be covered by the Development Law 4399 / 2016 and will give the company about Euro 2.1 million in the form of a tax exemption. The investment of the factory in the Industrial Area of ​​Drama is expected to add to the turnover for 2018 approximately Euro 7 million.
On 30/3/2018, the company acquired 79,656% of Latirus Ltd from DolphinCi Thirteen Ltd for a price of Euro 14 million. IKTINOS HELLAS already owns 20,344% and after the acquisition og 30/3, IKTINOS HELLAS owns 100% of the company Latirus Ltd.


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