EYDAP: The decisions of EGS

The approval of the two contracts between the Greek State, the EYDAP Fixed Assets Company and EYDAP SA. as well as the offsetting of the claims on both sides between the Greek State and E.YD.AP. SA approved, among others, the current Extraordinary General Meeting of EYDAP shareholders.

In particular, as the company states in a relevant announcement, E.YD.AP. SA informs the investing public that on December 24, 2021, Friday at 11:00 a.m. The Extraordinary General Meeting of the Company’s Shareholders took place and met validly, entirely with the participation of the Shareholders remotely via teleconference and the use of electronic media.

At the General Meeting participated and voted either by letter voting or remotely in real time using audiovisual electronic media 110 Shareholders, holders of 81,272,636 shares, representing 76.31% of the share capital and took the following decisions on the issues of the day included in the Invitation legally published on December 3, 2021:

The General Assembly:

-On the first issue, it decided to ratify no. 20952 / 01.12.2021 (ΑΔΑ: Ρ2Ε446Ψ84Ψ-ΚΞΦ) decision of the Board of Directors of Ε.Υ.Δ.Α.Π. SA for:

a) the granting of a license in accordance with article 100 par. 1 of Law 4548/2018 with a validity of six (6) months for the preparation of two (2) Contracts in accordance with the Plans (i) between 11/2021 between the Greek State, of the EYDAP Fixed Assets Company and E.YD.AP. SA in accordance with Law 2744/1999 and par. 2 of article one hundred and fourteen of Law 4812/2021, regarding the terms of renewal of the exclusive right to provide water supply and sewerage services granted to E.YD.AP. SA until 31.12.2040 pursuant to par. 1 of the same article as above, (ii) between the Greek State, the EYDAP Fixed Assets Company and E.YD.AP. SA according to par. 4 of article one hundred and fourteen of Law 4812/2021, regarding the assignment to E.YD.AP. SA operation and maintenance services of the External Water Supply System of the major area of ​​the Capital for three (3) years,

b) the approval of the two (2) Contracts between the Greek State, the Fixed Assets Company EYDAP and EYDAP. SA according to the from 11/2021 Plans and

c) the authorization of the Managing Director of E.YD.AP. SA for the signing of the above Contracts with minor changes that do not financially burden E.YD.AP. SA and do not change the contractual framework and risk allocation.

-On the second issue, it decided to ratify no. 20952 / 01.12.2021 (ΑΔΑ: Ρ2Ε446Ψ84Ψ-ΚΞΦ) decision of the Board of Directors of Ε.Υ.Δ.Α.Π. SA about:

a) the approval of the amounts of the claims on both sides between the Greek State and the EYDAP. SA and in particular:

i) the overdue debts of the Greek State to E.YD.AP. SA from the execution of projects for the E.Y.S. during the years 2019 and 2020 and from operating expenses made by E.YD.AP. SA for the management, maintenance and supervision of good operation of E.Y.S. during the period from 01.10.2013 until 31.12.2020 and

ii) the overdue debts of E.YD.AP. SA to the Greek State consisting of the price of the supplied raw water during the period from 12.10.2013 to 31.12.2020, as the amounts under i) and ii) are determined in the Final Plan K.Y.A. of the Ministers of Finance, Development and Investment, Environment and Energy and Infrastructure and Transport, which is completely identical in content with the published (Government Gazette 5830 / BD / 14.12.2021) no. 352462 / 8.12.2021 Joint Decision of the above Ministers and specifically in accordance with par. 1 and 2 thereof, as follows:

“1. The determination of the price due by EYDAP for the quantities of raw water provided by the Greek State during the period from 12.10.2013 to 31.12.2020 in the total amount of € 346.707.891,90, broken down into: ( a) amount € 171,451,252.91 for the period from 01.10.2013 to 31.05.2017, further analyzed per year as follows: – 10,970,623.76 for the period 01.10.2013 to 31.12.2013, – 47,146. 570,81 for the period 01.01.2014 to 31.12.2014, – 47.466.738,30 for the period 01.01.2015 to 31.12.2015, – 47.749.561,03 for the period 01.01.2016 to 31.12.2016 , – 18,117,759.01 for the period 01.01.2017 to 31.05.2017 and (b) amount of € 175,256,638.99 for the period from 01.06.2017 to 31.12.2020, further broken down by year as follows: – 29,736,670.08 for the time period 01.06.2017 to 31.12.2017 – 47,738,502.26 for the time period 01.01.2018 to 31.12.2018 – 48,447,475.00 for the time period 01.01.2019 to s. 31.12.2019 – 49,333,991.66 for the period 01.01.2020 to 31.12.2020

2. The determination of the debts of the Greek State to EYDAP for the period from 12.10.2013 until 31.12.2020 in the amount of € 189,516,694.76 arising from the following reasons: (a) receivable of € 1,121,856, 70 due to the execution by EYDAP of projects for the EYS by special order of the Ministry of Infrastructure and Transport during the years 2019 and 2020, further analyzed per year as follows: – 754,133.75 for the period 01.01.2019 to 31.12.2019 – 367.722, 95 for the period 01.01.2020 to 31.12.2020 and (b) a claim of € 188,394,838.06 which corresponds to the operating costs of EYDAP for the management, maintenance and supervision of the proper operation of EYS during the period from 01.10.2013 and until 31.12.2020, further analyzed per year as follows: – 6.961.921,99 for the period 01.10.2013 to 31.12.2013 – 25.119.480,51 for the period 01.01.2014 to 31.12.2014 – 26.447. 681.28 for the time period 01.01.2015 to 31.12.2015 – 25,668,129.21 for the time period iodo 01.01.2016 to 31.12.2016 – 26.548.138,39 for the period 01.01.2017 to 31.12.2017 – 24.102.881,07 for the period 01.01.2018 to 31.12.2018 – 26.404.337,23 for time period 01.01.2019 to 31.12.2019 – 27.142.268,38 for the time period 01.01.2020 to 31.12.2020. ”

b) the set-off of the above receivables from both sides according to par. 4 of the above Final Plan K.Y.A., ie according to par. 4 of no. 352462 / 8.12.2021 Joint Ministerial Decision of the Ministers of Finance, Development and Investment, Environment and Energy and Infrastructure and Transport (Government Gazette 5830 / BD / 14.12.2021) and

c) the resignation of E.YD.AP. SA from any legal remedy and any other claim against the State and the EYDAP Fixed Assets Company.

-On the third issue, it re-decided the determination of the type of the Audit Committee, the term of office, the number and the qualities of its Members according to article 44 paragraph 1 case b of Law 4449/2017, as amended by par. 4 of article 74 of Law 4706/2020 confirming, otherwise ratifying, repeating and in each case maintaining in force: i) the Decision of the 37th Ordinary General Meeting of Shareholders of E.YD.AP. SA which took place on 26.6.2019 and ii) the Decision of the Extraordinary General Meeting of Shareholders of E.YD.AP. SA which took place on 15.5.2020 and approving the relevant proposal of the Board of Directors of E.YD.AP. SA as follows:

1. Type of Audit Committee

The Audit Committee to constitute a committee of the Board of Directors consisting exclusively of non-Executive Members of its Board of Directors.

2. Composition of the Audit Committee

The Audit Committee consists of three (3) in number of Members, two (2) of which have the status of Independent Non-Executive Member of the Board of Directors and one (1) of them is a simple non-Executive Member.

3. Term of office of the Audit Committee

The term of office of the Audit Committee coincides with the term of office of the Members of the Board of Directors, which is four years.

Following the above, the General Assembly decided to ratify the election of the existing Members of the Audit Committee in accordance with its decisions of 26.6.2019 and 15.5.2020, with a term ending on 28.6.2023, extended until the expiration of the term within which to convene the next Ordinary General Meeting, ie until 30.9.2023 and in no case exceeding five years, as follows:

1. Ms. Ekaterini Beritsi of Konstantinos, Independent Non-Executive Member of the Board.

2. Mr. Michael Stavroulakis of Adam, Independent Non-Executive Member of the Board.

3. Mr. Christos Karaplis of Grigoriou, non-Executive Member of the Board.