|29.10.2013 - All proposed resolutions on the agenda of the Annual General Meeting (AGM) of PI Power International Limited (PI, in liquidation) held today, Tuesday, in Vienna, were approved by a majority of approximately 99,9%.
As the Articles of Association of PI require that each director shall retire at each AGM, the current Board of Directors put themselves forward for re-election. James Shinehouse, Richard Boléat, George Baird and Murdoch McKillop were re-elected as directors of PI. James Shinehouse was also re-elected to the position of Managing Director of PI.
In addition, the AGM also approved PI’s annual accounts, the directors‘ report and the auditor’s report for the period January 1, 2012 to December 31, 2012. Grant Thornton Unitreu Wirtschaftsprüfungs- und Steuerberatungs-GmbH, Vienna, was once again appointed as auditor to the Company.
Finally, the Board of Directors announced that the Hungarian Court of Second Instance has ruled in the company’s favour in relation to the Karpat Energo matter. The company will now seek to enforce the payment awarded by the arbitration tribunal.