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OFFON

BRIQ PROPERTIES REAL ESTATE INVESTMENT COMPANY

(BRIQ)
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BriQ Properties Real Estate Investment : 15.04.2021 - Draft decisions of the Ordinary General Meeting

04/15/2021 | 10:40am EDT

DRAFT DECISIONS OF THE 21.04.2021 ORDINARY GENERAL MEETING OF SHARE-

HOLDERS OF THE COMPANY

«BRIQ PROPERTIES REAL ESTATE INVESTMENT COMPANY » (The «Company»)

GENERAL COMMERCIAL REGISTRY NO.140330201000

Items of the agenda:

1. Approval of the Company's Financial Statements of the year 2020, which was prepared in accordance with the IFRS, the relevant report of the Board of Directors and the Auditors.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors of the Company proposes to the General Meeting the approval of the Company's Annual Financial Statements for the year 2020, which have been prepared in accordance with IFRS, including the relevant annual management report of the Board of Directors and the report of the Certified Auditors in accordance with law 4548/2018, as in force.

2. Approval for the distribution of profits of the year 2020 and previous years and authorization to the Board of Directors.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Chairman will present the proposal of the Board of Directors regarding the distribution of profits as follows:

According to the Annual Consolidated and Corporate Financial Statements, the distributable profits according to the law, after deducting the reserve for 2020 amounting to € 33.675,14 amounted on 31.12.2020 to the amount of € 2.268,374.06.

Furthermore, the Board of Directors proposes the approval of distribution of a total amount of € 70.000,00 from the distributable profits of the year 2020 of the Company to members of the Board of Directors and the staff of the Company. as follows:

Distribution to Board members: € 54.000

Distribution to personnel: € 16.000

It is also proposed that the Ordinary General Meeting authorize Mrs. Anna Apostolidou and Mr. Apostolos Georgantzis as they jointly approved the amount of the distributed amount to the Company's personnel based on the performance of each beneficiary.

It is therefore proposed to distribute the profits as follows:

Statutory reserves

33.675,14

Dividend

2.124.358,50 €

Distribution to the personnel and BoD member

70.000,00 €

Retained earnings

74.015,56 €

Based on the above table, the proposed dividend for the year 2020 amounts to € 0,060 / share (net).

Finally, the General Meeting will grant the authorization to the Board of Directors to take the necessary actions for the implementation of the decision of the General Meeting.

3. Release of members of the Board of Directors and Auditors from all liability for compensation arising from year 2020.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors proposes to the General Meeting the release from any liability for compensation of the members of the Board of Directors and the Auditors who performed the audit of the financial statements for the Annual Financial Statements and the management of the year ended 31 December 2020, as well as and the approval of all the management acts and the representation acts of the Board of Directors of the Company for the year ended December 31, 2020, in accordance with the more specific provisions of articles 102, par.4 and 108 par. 1 of Law 4548/2018, as in force.

4. Appointment of the Members of the Internal Audit Committee.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors will propose to the General Assembly the election of Mrs. Eleni Linardou as a member of the Audit Committee in place of Mr. Faidonas Tamvakakis to be made by the Board of Directors in accordance with article 44 par. 1c of Law 4449/2017.

5. Appointment of certified auditors for the fiscal year from 01 January 2021 to 31 December 2021 and determination of their fee.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors will propose to the General Meeting the re-election of the audit company "PRICEWATERHOUSECOOPERS A.E." based at 268 Kifissias Ave., with Reg. SOEL: 113 for the audit of the financial statements of the Company and the Group for the fiscal year from January 1, 2021 to December 31, 2021, as well as for the review of the interim information of the Company and the Group for the period 01.01.2021-30.06.2021.

The General Meeting is going to grant authorization to the Board of Directors of the Company to determine the exact amount of the auditing fees in accordance with the above.

6. Appointment of certified valuers for year 2021 and determination of their fee.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors will propose to the General Meeting the apoitment of the companies " Athens Economics Ltd", "Proprius S.P. LLC-Real Estate Agents and Consultants (representa- tive in Greece of Cushman & Wakefield." and "HVS Global Hospitality Services", as independent real estate valuers that will carry out regular valuations of the Company's real estate portfolio for the fiscal year 2021.

Also, the Board of Directors proposes to the General Meeting to authorize the CEO Mrs. Anna Apostolidou to appoint additional valuers, if deemed necessary for the Company's best interest and to negotiate and agree its remuneration.

7. Establishment of Program for Free Distribution of shares for the staff and mem- bers of the Board of Directors.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Company will establish a program for free distribution of shares, in order to reward, attract and retain capable executives from the market (e.g., sign-on bonus, bonus for achieving specific goals, etc.). This program is considered a voluntary benefit, with the right to be revoked, modi- fied, or abolished it at any time, without, however, being affected acquired rights.

The Free Shares Program is as follows:

  1. origin of shares: own shares acquired under par. 3 no. 49 Law 4548/2018,
  2. number of shares: up to 700.000 (seven hundred thousand) own shares.

The nominal value of the shares available under this program together with the nominal value of the shares that may be available under the share option program is not allowed under Law 4548/2018 to exceed, in total, one tenth (1/10) of the paid-up share capital.

Also, the Board of Directors will be authorized to determine the beneficiaries of the Program, the specific conditions of granting, as well as any other condition deemed necessary or expedient for the implementation of the Program.

8. Free distribution of the Company's own shares to the members of the Board of Directors, according to par. 2 of article 114 of Law 4548/2018. Granting of authoriza- tion to the Board of Directors for the determination of the beneficiaries and the dis- tribution terms of the shares.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

It is proposed to the General Meeting the free distribution of 15.000 treasury shares to the CEO of the Company, Mrs. Anna Apostolidou, in accordance with the provisions of article 114 of law 4548/2018, for achieving the goals of the year 2021. In addition, the above benefit will be in line with the above Program for Free Distribution of shares. Furthermore, it is proposed to authorize the Board of Directors to determine the specific terms of the distribution and any other relevant condition for the implementation of it.

9. Approval of the contracts and fees of the members of the Board of Directors for the year 2020 and pre-approval for the year 2021.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors will propose to the General Meeting the approval of fees of the members of the Board of Directors for the year 2020, At the Ordinary General Meeting of 30.03.2020, a total amount of € 100.000,00 gross fees for the year 2020 had been pre-approved. The final gross remuneration and compensations of the Members of the Board of Directors amounted to the total gross amount of € 73.248,80 for the year 2020 (the net remuneration is formed based on the reservations and contributions charged to each beneficiary).

Furthermore, the Board of Directors will propose to the General Meeting the pre-approval of the gross remuneration and compensations of its members for their participation in the Board of Directors and its Committees for the current year 2021 totaling up to 110.000,00 € (net remuneration will be based on the deductions and contributions borne by each beneficiary).

10. Approval of the Remuneration Report of the Board of Directors of the Company in accordance with a. 112 par 3 of Law 4548/2018

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors submits to the shareholders the Remuneration Report of the members of the Board for the financial year 2020, which includes a comprehensive overview of the total remuneration received by the members of the Board in the financial year 2020, in accordance with the specific provisions of Article 112 of Law 4548/2018.

The Remuneration Report is available on the Company's website.

https://www.briqproperties.gr/el/genikes-synelefseis

It should be clarified that the shareholders' vote on the Remuneration Report is of advisory nature in accordance with Article 112 par. 3 of Law 4548/2018.

11. Approval for the acquisition of own shares of the Company, in accordance with articles 49 of Law 4548/ 2018 and authorization to the Board of Directors.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

12. Granting of permission to the members of the Board of Directors and to Directors of the Company for acts pursuant to article 98 par.1 of Law 4548/2018, as in force.

Required quorum:

1/5 of the paid up share capital

Required majority:

50%+1 of the (present or represented)

shareholders

The Board of Directors proposes to provide permission, according to article 98 par. 1 of law 4548/2018, to the members of the Company's Board of Directors and its directors, to participate in the Board of Directors and / or the management of other companies which are engaged in objects similar or related to the Company's objects.

13. Report from the Chairman of the Audit Committee to the shareholders on the tasks and activities of the Audit Committee during the fiscal year 2020.

The president of the Audit Committee informs the General Meeting of the shareholders for the activities of the Audit Committee during financial year 2020.

The aforementioned Report of the Audit Committee for 2020, is available on the Company's web- site https://www.briqproperties.gr/el/genikes-synelefseis.

14. Other announcements

The CEO of the Company, Mrs. Anna Apostolidou, will present the results and the most important events of the year 2020.

Disclaimer

BriQ Properties REIC published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2021 14:39:03 UTC.


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Financials
Sales 2020 3,68 M 4,27 M 4,27 M
Net income 2020 1,92 M 2,23 M 2,23 M
Net Debt 2020 16,3 M 18,9 M 18,9 M
P/E ratio 2020 36,4x
Yield 2020 3,05%
Capitalization 74,0 M 86,1 M 85,8 M
EV / Sales 2019 18,8x
EV / Sales 2020 23,4x
Nbr of Employees 7
Free-Float 44,6%
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Managers and Directors
Anna Georgiou Apostolidou Chief Executive Officer & Executive Director
Theodoros Dimitriou Fessas Non-Executive Chairman
Fotini Katsikavela Director-Investment & Asset Management
Phaedon-Theodore Tamvakakis Vice Chairman
Efstratios Dimitriou Papaefstratiou Independent Non-Executive Director