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Announcement concerning the Composition of the Board of Directors, Audit Committee, Remuneration Committee, and Nomination Committee of PPA S.A.

 

Piraeus, July 19th 2022

 

Announcement concerning the Composition of the Board of Directors, Audit Committee, Remuneration Committee, and Nomination Committee of PPA S.A.

 

  1. Constitution of the PPA S.A. Board of Directors into a body

 

Following decision of the Ordinary General Assembly of the Company’s Shareholders of July 13th, 2022, for the election of a new ten-member Board of Directors of the Company, the definition of their term of office and the appointment of its independent non-executive members, which was taken, following, according to article 18 par. 1 of Law 4706/2020, as in force, the proposal of the Company’s Board of Directors of 21.06.2022 to the Ordinary General Assembly of the Company’s Shareholders of July 13, 2022, based on the proposal / evaluation report of the Nomination Committee of 09.06.2022 (which has been uploaded to the company’s website https://www.olp.gr/en/investor-relations/corporate-announcements), in accordance with the applicable regulatory framework.

 decided

A. The from 13/07/2022 constitution of the PPA S.A. Board of Directors into a body as below:

  1. YU ZengGang, Chairman of the Board of Directors, Executive Member.
  2. ZHU Jianhui, Vice Chairman Non-Executive Member.
  3. Zhang Anming, CEO, Executive Member.
  4. Ms. LI Jin, CFO, Executive Member.
  5. KWONG Che Keung Gordon, Independent Non-Executive Member.
  6. IP Sing Chi, Independent Non-Executive Member.
  7. ARVANITIS Νikolaos, Independent Non-Executive Member.
  8. POLITIS Dimitrios, Non-Executive Member.
  9. YU Tao, Non-Executive Member.
  10. MORALIS Ioannis, Independent Non-Executive Member.

B. The term of office of the BoD Members of the Company is, annually, ie until 13-07-2023, which is extended, in accordance with the provisions of article 85, par. 1, par. c of Law 4548/2018 and article 18 par. 1 of the Company's Articles of Association until the expiration of the deadline within which the next Ordinary General Meeting must be convened in 2023 and until the relevant decision is taken.

 

  1. Nomination of Audit Committee Members

Following decision of the Ordinary General Assembly of Shareholders of the Company of July 13, 2022, for the reappointment of the Audit Committee of the Company, as a BoD Committee, constituting of Non-Executive BoD Members, according to the provisions of article 44 of Law 4449/2017, as in force after its amendment by article 74 of Law 4706/2020, with an annual term of office similarly of the BoD term, consisting of three (3) members in total, of which two (2) independent non-executive members of the new Board of Directors of the Company, who meet the criteria of independence provided in article 9 par. 1 and 2 of law 4706/2020, as in force, and one (1) non-executive BoD member, the Board of Directors of the Company nominated as Members of the Audit Committee of PPA S.A., the below:

  1. KWONG Che Keung Gordon, Independent Non-Executive BoD Member.
  2. ARVANITIS Νikolaos, Independent Non-Executive BoD Member.
  3. POLITIS Dimitrios, Non-Executive BoD Member

The Chairman of the Audit Committee of the Company, independent of the Company, within the meaning of article 9 par. 1 and 2 of Law 4706/2020, as applicable, will be appointed by the members of the Audit Committee when it is constituted as a body, in accordance with article 44 par. 1(e) of Law 4449/2017, as applicable.

The term of office of the Audit Committee will be equal to the term of office of the newly elected Company’s Board of Directors, whose term of office is annual, ie until 13.07.2023, which is extended, in accordance with the provisions of article 85, par. c of Law 4548/2018 until the expiration of the deadline, within which the next Ordinary General Assembly must be convened in 2023 and until the relevant decision is taken.

 

  1. Appointment of Nomination Committee Members

 The Board of Directors, approved the appointment as Members of the Nomination Committee of the Company of:

1) Mr. IP Sing Chi, Independent, Non-Executive BoD Member.

2) Mr. KWONG Che Keung Gordon, Independent, Non-Executive BoD Member.

3) Mr. ZHU Jianhui, Vice Chairman of the Board, Non-Executive BoD Member.

The term of office of the Nominations Committee will be equal to the term of office of the newly elected Board of Directors of the Company, whose term of office is annual, ie until 13.07.2023, which is extended, in accordance with the provisions of article 85, par. c of Law 4548/2018 until the expiration of the deadline, within which the next Ordinary General Meeting must be convened in 2023 and until the relevant decision is taken.

 

  1. Appointment of Remuneration Committee Members

The Board of Directors, approved the appointment as Members of the Remuneration Committee of the Company of:

1) Mr. ARVANITIS Nikolaos, Independent, Non-Executive BoD Member.

2) Mr. KWONG Che Keung Gordon, Independent, Non-Executive BoD Member.

3) Mr. IP Sing Chi, Independent, Non-Executive BoD Member.

The term of office of the Remuneration Committee will be equal to the term of office of the newly elected Board of Directors of the Company, whose term of office is annual, ie until 13.07.2023, which is extended, in accordance with the provisions of article 85, par. c of Law 4548/2018 until the expiration of the deadline, within which the next Ordinary General Meeting must be convened in 2023 and until the relevant decision is taken

 

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