Sidma Steel Products : Decisions of Annual Shareholders' General Meeting of SIDMA S.A.

9802d2cb-56a7-4922-aad5-ce219c3218f0.pdf DECISIONS OF THE ORDINARY GENERAL S H AR EHOL DE RS ' M EETING A S AT 26.05.2016

In Athens, on Thursday 26th May 2016, at 12:30, at the Hotel "PRESIDENT", 44, Kifisias Aven., the Ordinary General Meeting of its shareholders was held following the 25th April 2016 notice of the Board of Directors. 19 shareholders, holding 7.869.167 shares, participated who accounted for 77,25% of the share capital and the vote rights of the Company. The items on the agenda discussed and the decisions made are shown below:

Item 1: They unanimously approved the annual financial statements of the fiscal year 2015 (1/1/2015

- 31/12/2015) together with the relevant reports of the Board of Directors and the Chartered Auditors. The Meeting approved also by 100% of the attending parties the allocation of profits of this year and non-payment of dividend.

Item 2: The Meeting approved, by 100% of the attending parties, the discharge of the BoD members and the Chartered Auditor from any liability for compensation as for the activities of the fiscal year 1/1/2015-31/12/2015.

Item 3: Following proposal of the Chairman, the Meeting unanimously approved, by 100% of the attending parties, the election of the company Grant Thornton S.A. Chartered Accountants - Auditors Company Consultants (Reg. No in the Body of Chartered Accountants - Auditors 127) and fixed their fees, as it was proposed.

Item 4: The Meeting unanimously approved (by 100% of the attending parties) the fees and extra emoluments given to BoD members independent and non-independent, for the period 1/1/2015 till 31/12/2015.

Item 5: By 100% of the attending parties, the Meeting granted of permission pursuant to Article 23(1) of Codified Law 2190/20, to members of the Board of Directors and the General Management and / or Managers of the Company for their participation in Boards of Directors or Management of affiliated companies within the meaning of Article 42e of Law 2190/20.

Item 6: By 100% of the attending parties (7.869.167 votes), the Meeting unanimously elected a new 9-member Board of Directors with tenure set one year:

1. MARCEL HARIS AMARIGLIO, son of LEON

2. NIKOLAOS MARIOU, son of PANAGIOTIS - MARIOS

3. DANIEL BENARDOUT, son of DAVID

4. HAIM NAHMIAS , son of MOISSIS

5. KONSTANTINOS KARONIS, son of DIMITRIOS

6. ELIAS MOISSIS, son of RAFAIL

7. EFSTRATIOS THOMADAKIS, son of PANAGIOTIS

8. GEORGE KATSAROS, son of SPYRIDON

9. ABRAHAM MOISSIS, son of ESDRA

The tenure of the members of the new Board of Directors is set to commence the next day of their election and shall expire on the date of the following Annual Ordinary General Meeting of the Company's shareholders. Of the above candidates, Messieurs Katsaros George and Moissis Abraham are recommended for election by the General Meeting as independent non-executive members according to the provisions of Law 3016/2002 on corporate governance.

Item 7: The Meeting unanimously approved (7.869.167 votes) the election of the members of the audit committee in line with article 37 of Law 3693 / 2008.

MARCEL HARIS AMARIGLIO, son of LEON - Non - executive member of Board HAIM NAHMIAS, son of MOISSIS - Non - executive member of Board

GEORGE KATSAROS, son of SPYRIDON - Independent Non - executive member of Board

Item 8: The Meeting unanimously approved (by 100% of the attending parties) the completion of article 4 of the company's statute with the scope of work its subsidiary PANELCO S.A. had and which was absorbed on 29/12/2015. More specifically, it proposes to complete the purpose of the company with the scope of work: "The industrial production and manufacturing of metal and heat-insulating elements (panels)"

Item 9: The Meeting unanimously approved (7.869.167 votes) the BoD intention to take concrete actions similar to those taken last year, which will contribute to the furthest possible reduction of operating expenses, as well as to an improvement of its capital structure in order to become sustainable.