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TITAN CEMENT COMPANY S.A.
RESOLUTIONS OF THE 1st REΙΤΕRATIVE GENERAL MEETING ING
ON rd JUNE 3, 2010
Titan Cement Company S.A. announces, that the 1st Reiterative General Meeting of Shareholders of the Company that took place at the Grande Bretagne Hotel, Athens, on 3.6.2010 at 13.00 was attended by 81 shareholders, representing 41,946,943 common registered shares thus reaching a quorum of 56.79% of the paid-up share capital. Also present were 11 shareholders representing 4,325,556 non-voting preference shares.
The General Meeting discussed and approved by 39.079.423 votes (i.e .93.16% majority of votes represented at the Meeting) the adoption of a new stock options plan for the acquisition of Company shares by executive members of the Board of Directors and the personnel of the Company and its affiliated companies, in accordance with article 13 par. 13 of codified law 2190/1920 and the grant of authorization to the Board of Directors to determine the beneficiaries, the manner of exercise of the options and other terms of the plan.
In the framework of the new stock option plan, approximately 100 beneficiaries will be granted on 2010, 2011 and 2012 stock options for the purchase of up to one million ( 1,000,000) common shares from the Company’s treasury stock at a price per share equal with the nominal value of the Company share ( i.e. € 4 per share). The vesting period of the rights will be three years ( i.e. 2013, 2014 and 2015 respectively) and the exercise of the rights will then depend on a. the Group’s pre-tax, interest and depreciation operating profits ( EBITDA) and its after-tax net profits; b. the return on the Company’s ordinary share in relation to the average mean of the return on the shares of other multinational companies in the building materials sector with large capitalization and high trading volumes; and c. the return on the Company’s common share in relation to the average return on the following indices: FTSE/ASE-20, FTSE/ASE-40, and FTS Eurofirst 300.