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CASA DE BUCOVINA-CLUB DE MUNTE - BCM

OGSM resolutions 24 .04. 2017

Release Date: 4/24/2017 2:19:18 PM

IRIS Code: 7DF51

Report according to: The provisions of NSC/FSA Regulation no. 1/2006

Date of the report: 24 April 2017

Name of the issuer: CASA DE BUCOVINA – CLUB DE MUNTE S.A.

Headquarters: Gura Humorului, 18, Republicii Square, Suceava County

Phone/fax no.: +40 230 207 000/ +40 230 207 001

Sole Registration Code: 10376500

Registration Number with the Trade Register: J33/718/1998

Subscribed and paid-in share capital: 16,733,960 lei

Main features of the issued securities: 167,339,600 shares, with a face value of RON 0.1/share

Regulated market on which the securities are traded Bucharest Stock Exchange

Significant event to report:

Resolutions of the

Ordinary General Shareholders Meeting of

CASA DE BUCOVINA CLUB DE MUNTE SA

of 24 April 2017

The Ordinary General Shareholders Meeting of Casa de Bucovina - Club de Munte SA, with the convening notice published in the Official Gazette of Romania, part. IV, no. 930 of 21 March 2017, in national newspaper Bursa, no. 53 of 21 March 2017, posted on the company’s website, www.bestwesternbucovina.ro and on the website of the Bucharest Stock Exchange,

legally gathered today, 24 April 2017, at the first convening, with the direct participation, by representative of by correspondence, of the shareholders holding a total number of 129.017.000 shares, representing 77,099% of the share capital, decided the following:

Resolution no. 1

Approves the annual financial statements of the company for the year 2016 based on the Report of Board of Administrators of CASA DE BUCOVINA - CLUB DE MUNTE SA and the report of the financial auditor 3B Expert Audit SRL., out of which:

Total revenues

8,439,824

Total expenses

7,709,371

Gross result - Profit

730,453

Profit tax expenses

121,527

Financial exercise result – Net profit

608,926

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 2

Approves the 2016 net profit allocation and setting the gross dividend at RON 0,0034/share, according to the proposal of the Board of Administrators.

lei

Net profit for the financial year 2016

608,925.81

Mandatory reserve for the financial year 2016

33,646

Total amount to be distributed

575,279.81

Number of shares

167,339,600

Dividend/share

0.0034

Value of the dividends to be distributed

568,954.64

Undistributed reported result

6,325.17

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 3

Approves the dividends distribution starting with 21.07.2017 (the payment date), with the distribution costs being borne by the company.

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 4

Approves the discharge from liability of the Board of Administrators of Casa de Bucovina Club de Munte SA for the financial year 2016.

With 99,741% votes for, 0% votes against and 0,259% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 5

Approves the appointment of Mrs. Daniela Elena Topor, CASS Director within SAI Muntenia Invest SA, to negotiate the objectives and performance criteria for 2017 and to sign on behalf of the company the addendum to the management contract.

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 6

Approves the revenue and expenditure budget for the financial year 2017, as proposed by the Board of Administrators, out of which:

Turnover

7,907,197

Operating result

472,717

Financial result

255,000

Gross result

727,717

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 7

Approves the proposal of the Board of Administrators regarding the remuneration for the members of the Board of Administrators for the financial year 2017, amounting to RON 500/month for each member of the Board of Administrators.

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 8

Approves 03.07.2017 as the registration date, according to the provisions of art. 238 para. 1 of Law no 297/2004, respectively 30.06.2017 as the ex-date, as defined by the NSC Regulation no. 6/2009.

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Resolution no. 9

Empowers Mr. Ion Romica Tamas, NPC 1781210030016, who in turn can empower others to sign all documents and take all necessary steps to register the resolutions taken in the OGSM.

With 100% votes for, 0% votes against and 0% refrains from the total number of 129.017.000 expressed votes.

Florica Trandafir

President of the Board of Administrators



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