Role of the General Meeting of Shareholders

General Meetings are held at least once a year. The General Meeting discusses the Annual Report, adopts the financial statements, declares the dividend, discharges the members of the Board of Management and the members of the Supervisory Board from liability in the exercise of their respective managing and supervising duties and appoints the auditor.

The General Meeting appoints, suspends and dismisses the members of the Board of Management and of the Supervisory Board. On the proposal of the Supervisory Board, the General Meeting decides on the adoption of the proposed remuneration policy for the Board of Management. Resolutions of the Board of Management and Supervisory Board, resulting in a material change in the identity or character of the Company or its business are subject to the approval of the General Meeting.

The General Meeting decides on the issue of new shares. The General Meeting can delegate this power to another company body. At present, this authorisation to issue (and to grant rights to acquire) shares has been granted to the Board of Management, subject to Supervisory Board approval, for a period of eighteen months, starting from the General Meeting of 24 April 2008. This power is limited to a maximum of 10% of the issued share capital on the date of issue. This restriction does not apply to the issue of any class B preference shares.

Draka has three types of shares: ordinary, preference and class B preference shares. As at 31 December 2007, only ordinary and preference shares had been issued. No class B preference shares have so far been issued.

The General Meeting also decides on the acquisition of outstanding shares.

One or more shareholders individually or collectively, representing at least one hundredth of the entire issued capital or whose shares at the date of the notice calling the meeting have a stock market value of at least two hundred and fifty thousand Euros (€ 250,000), may submit proposals for discussion at the General Meeting no later than sixty days before the meeting, in writing to the Board of Management or the Chairman of the Supervisory Board. These proposals will be included in the agenda unless, in the opinion of the Supervisory Board and the Board of Management, the Company has an important interest to not include them.