Lemeco approved final results 2004 – AGM & EGM on 7/7 for change of name
15/4/2005 10:03
At the meeting held on April 14, 2005, the Board of Directors of LEMECO SILVEX INDUSTRIES LTD decided the following:
1. Examined and approved the audited results for the year ended December 31, 2004. The audited profit attributable to shareholders for 2004 is lower than that of the indicative results announced on February 28, 2005 due to the adjustment in the provision for bad debts. The final profit stands at £6,328 against £43,842 that was initially announced. Copies will be available free of charge at the Company’ s office, 6th floor, Silvex Court, 54 Griva Digeni Avenue, 1080 Nicosia.
2. Set the date for the Annual General Meeting, which will take place on Thursday, July 7, 2005 at 5.30 pm at Silvex Court, 3rd floor, 54 Griva Digeni Avenue, 1080 Nicosia.
3. Reviewed the Company’s prospects in 2005 and ascertained that the net asset value of the share as at March 31, 2005 stood at 4.75 cents compared to 4.39 cents on December 31, 2003. This means that the loss of £1,603,768 in 2004 has been covered by the profits of the first quarter of 2005.
4. Decided to hold an Extraordinary General Meeting (following the AGM) to approve the resolution for the change of the Company’s name from LEMECO SILVEX INDUSTRIES LTD to LEMECO SILVEX INDUSTRIES PUBLIC COMPANY LTD.
1. Examined and approved the audited results for the year ended December 31, 2004. The audited profit attributable to shareholders for 2004 is lower than that of the indicative results announced on February 28, 2005 due to the adjustment in the provision for bad debts. The final profit stands at £6,328 against £43,842 that was initially announced. Copies will be available free of charge at the Company’ s office, 6th floor, Silvex Court, 54 Griva Digeni Avenue, 1080 Nicosia.
2. Set the date for the Annual General Meeting, which will take place on Thursday, July 7, 2005 at 5.30 pm at Silvex Court, 3rd floor, 54 Griva Digeni Avenue, 1080 Nicosia.
3. Reviewed the Company’s prospects in 2005 and ascertained that the net asset value of the share as at March 31, 2005 stood at 4.75 cents compared to 4.39 cents on December 31, 2003. This means that the loss of £1,603,768 in 2004 has been covered by the profits of the first quarter of 2005.
4. Decided to hold an Extraordinary General Meeting (following the AGM) to approve the resolution for the change of the Company’s name from LEMECO SILVEX INDUSTRIES LTD to LEMECO SILVEX INDUSTRIES PUBLIC COMPANY LTD.
