EXTRACTS OF MINUTES
OF THE 7th/19.4.2018 MEETING OF THE BOARD OF DIRECTORS


Subject: Approval of the Annual Report for Fiscal Year 2017.

The Board of Directors approved the HEDNO S.A. Annual Report for the period between 01.01.2017 and 31.12.2017, drawn up in compliance with the Financial Reporting Standards and consisting of:

1. the BoD Report

2. Financial Statements, including:
• Annual Accounts statement
• Total Income Statement
• Financial Position Statement
• Changes in Equity Statement
• Cash Flow Statement

3. Notes accompanying the aforementioned financial statements and being an integral part thereof.

4. Additional Accounting Financial Statements (as appendix to the Financial Statements) for the same period including Balance Sheets and Profit & Loss Reports for the following three (3) activities: a) Network Management b) Inter-Connected Islands Electrical Systems Management and c) Other Activities

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Subject: Tender No. ΔΕΕΔ-20/17.1.2017 called for execution of the following Project: “Supply and installation of two (2) submarine 20 kV voltage power cables with XLPE insulation for the Lesbos Kalloni Bay interconnection.
The above tender has been canceled.

The Board of Directors approved cancellation of tender no. ΔΕΕΔ-20/17.1.2017 due to unsatisfactory results. The total price exceeded the budget calculated during the announcement of the project and the subsequent, re-announcement of the same project that amended the terms and conditions, based on experience gained through the present tender, with a view to increasing competition and securing the tender results.

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