The AGM of ERG Capital – 3 ADSIP, held on May 14, 2009 approved all proposals made by the Board of Directors of the Company, including the proposals for approval of the audited financial statements of the Company for 2008, changes in the composition of the Board of Directors, approval of the remuneration of the members of the Board of Directors and their guarantees for good governance and the creation of an Audit Committee.

The AGM made the following decisions regarding the composition of the Board of Directors (BoD):

1. Relieves Daniela Atanasova Handzhieva as member of the BoD;
2. Elects as new BoD member Sredetz Enterprise EOOD, represented under Art.234.(1). of the Commercial Act by Tzvetomir Stoyanchev Todorov;
3. Re-elects Anna Petrova Tzankova-Boneva as BoD member; and
4. Re-elects Yordan Nikolov Chompalov as BoD member.

According to Art. 233.(1) of the Commercial Act the term of office of the BoD members is 5 years.  

The minutes of the AGM (in Bulgarian) are published on the Company’s web site here.