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ATHENS - Hellenic Telecommunications Organization S.A. (ASE:HTO, OTC MARKET: HLTOY) announced that shareholders approved all agenda items during its 73rd Annual General Meeting held Monday.
The meeting, which saw 86.34% shareholder participation, approved the company’s 2024 financial statements and profit distribution. Shareholders also authorized the cancellation of 8,840,446 shares purchased under the company’s previous buyback program, reducing share capital by €25,018,462.18.
Among key resolutions, shareholders approved a demerger plan to spin off OTE’s passive mobile infrastructure business into a new wholly-owned subsidiary, based on accounting statements dated December 31, 2024.
The meeting also ratified a new share buyback program and amended the company’s Articles of Incorporation regarding board composition and term limits.
Other approved items included the appointment of an audit firm for 2025, revision of the board remuneration policy, approval of director compensation for 2024, and continuation of insurance coverage for directors and officers through December 2026.
Additionally, shareholders approved a share-based incentive plan for 2025 and the distribution of profits to company executives.
The detailed voting results will be published within five days, according to the company’s statement based on a press release.
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