Lemeco: AGM decisions – Board changes – EGM approved change of name
8/7/2005 10:52
The Annual General Meeting of Lemeco Silvex Industries Ltd held on July 7, 2005 decided the following:
1. Approved the Directors’ report and the financial statements for the year ended December 31, 2004.
2. Reelected Messrs. Michalakis Ioannidis, Constantinos Damtsas, Yiannos Ioannidis and Costas Constantinides as Board members. Mr. Iacovos Constantinides, Managing Director, will continue to be a member of the Board of Directors and his reelection is not required. Mr. Demosthenes Severis was also elected as new Board member. Messrs. Georgios Sirimis and Stefos Loizides were not elected and are no longer members of the Board of Directors. It is clarified that the above reclassification is related to the effort for the improvement of ELMA Group’s function and concerns the Boards of Directors of all five companies of Elma Group, registered in the Stock Exchange.
3. Approved the remuneration of Board members, which will remain the same.
4. Reappointed KPMG as auditors and authorized the Board of Directors to set their remuneration.
The Extraordinary General Meeting held on July 7, 2005 approved the following special resolution: “That the Company’s name change from LEMECO SILVEX INDUSTRIES LIMITED to LEMECO SILVEX INDUSTRIES PUBLIC COMPANY LIMITED.
At the meeting held following the EGM, the Board of Directors elected Mr. Michalakis Ioannidis as Chairman and Mr. Costas Constantinides as Vice Chairman. The Board of Directors also reviewed the Company’s activities for the first half of 2005 and decided to inform the CSE and the shareholders that the results for the first half of 2005 are expected to be lower compared to the corresponding period of 2004.
1. Approved the Directors’ report and the financial statements for the year ended December 31, 2004.
2. Reelected Messrs. Michalakis Ioannidis, Constantinos Damtsas, Yiannos Ioannidis and Costas Constantinides as Board members. Mr. Iacovos Constantinides, Managing Director, will continue to be a member of the Board of Directors and his reelection is not required. Mr. Demosthenes Severis was also elected as new Board member. Messrs. Georgios Sirimis and Stefos Loizides were not elected and are no longer members of the Board of Directors. It is clarified that the above reclassification is related to the effort for the improvement of ELMA Group’s function and concerns the Boards of Directors of all five companies of Elma Group, registered in the Stock Exchange.
3. Approved the remuneration of Board members, which will remain the same.
4. Reappointed KPMG as auditors and authorized the Board of Directors to set their remuneration.
The Extraordinary General Meeting held on July 7, 2005 approved the following special resolution: “That the Company’s name change from LEMECO SILVEX INDUSTRIES LIMITED to LEMECO SILVEX INDUSTRIES PUBLIC COMPANY LIMITED.
At the meeting held following the EGM, the Board of Directors elected Mr. Michalakis Ioannidis as Chairman and Mr. Costas Constantinides as Vice Chairman. The Board of Directors also reviewed the Company’s activities for the first half of 2005 and decided to inform the CSE and the shareholders that the results for the first half of 2005 are expected to be lower compared to the corresponding period of 2004.
