General Meeting of Shareholders

In accordance with the Articles of Association, the General Meeting of Shareholders (GMS) is the highest authority in the Company.

GMS in 2016 was held once. In the Annual General Meeting of Shareholders (AGM) on June 2, 2016 the Board of Directors reported corporate performance for the financial year of 2015.

The entire agenda of Annual General Meeting have been approved. The Annual General Meeting has decided to approve the annual report of the Board of Directors for 2015; BOC approves salary in 2016 as high as 15% of the salary and benefits Board of Directors and authorize the commissioner to determine the salary and allowances Board of Directors; and agree to authorize the Board of Directors to establish and determine the public accounting firm that will examine the Company’s financial statements in 2016.

All of the 2016 AGM decisions have been executed by related party.