share capital of 2,911,225 euros (992 million drachmas) is divided
into 992,000 common registered shares with a par value of 2.93 euros
each (1,000 drachmas). A repeat general shareholders meeting in
December of 1999 decided to proceed with a 4.4 million euros (1.5
billion drachmas) rights issue. A total of 1,500,000 new common
registered shares were issued at 2.93 euros (1,000 drachmas) each
with existing shareholders waiving their rights to allow Michaniki
S.A. to fully cover the capital increase. Following the rights issue,
the company's share capital rose to 7,313,279 euros (2.492 billion
drachmas) divided into 2,492,000 common registered shares with a
par value of 2.93 euros each (1,000 drachmas).
A subsequent extraordinary general shareholders
meeting in May of 2000 decided to further raise the company's share
capital to 10,71,665 million euros (3.65 billion drachmas) divided
into 3,650,000 common registered shares. Currently, after another
capital increase approved by the general assembly of shareholders
in April 2001, the company's share capital is 13,038,500 euros (4.442
billion drachmas) divided into 4,450,000 common registered shares,
each with a par value of 2.93 euros (1,000 drachmas).
Today Michaniki S.A. is the company's main shareholder
with a stake of 77.07%.