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Ermes: AGM decisions - Dividend 2 cent – EGM approved name change & buyback

The Annual General Meeting of Ermes Department Stores Public Ltd held on Monday, May 14, 2007 at the International Conference Center in Nicosia decided the following:

APPOINTMENT OF BOARD MEMBERS

Reelection of the board members Messrs Nikos K. Shakolas, Andreas Louroutziatis, Marios N. Shakolas, Demetris Demetriou, Marios Panayides, Menelaos Shakolas.

OPERATION PROGRESS

Executive Chairman, referring to the operation progress, reported that from January 1, until May 13, 2007 the sales amounted to £32,35 millions, compared to £30.74 millions last year.

DIVIDEND

The Annual General Meeting decided to allocate a dividend of 10% on the nominal value of the share (£0.20), that is 2 cent per share. The record date for the payment of the dividend will be Wednesday, June 4, 2007. The dividend will be paid to the shareholders by July 2007.

EXTRAORDINARY GENERAL MEETING

The Extraodrinary General Meeting decided to change the company’s name from Ermes Department Stores Public Ltd to Ermes Department Stores Plc.

It also decided to proceed during the next 12 months to the buyback of own shares, pursuant to the relevant regulation.
Tuesday, 15 May, 2007 - 10:57