Lemeco-Silvex to Transfer to "Other" Companies
24/5/2001 10:08
During its meeting of the 23 May 2001, the Board of Lemeco Silvex Industries Ltd approved the final results of the company for the year 2000 and set the date of the AGM as the 19 July 2001. The Board has decided not to propose final dividends for the year 2000.
The Board decided to review the matter of the rights issue to shareholders for its next meeting scheduled after the EGM.
It was also decided to call an EGM, following the AGM, to seek authorisation for the Board to proceed with buy-back of the company’s own shares. In addition the Board decided to propose to the EGM to approve a resolution whereby, taking into consideration the activities of the company in the investment sector and in view of the fact that the industrial sector does not offer satisfactory prospects for profits, for the company to expand further into the investment sector and for this to become the main activity of the company. Authorisation will be sought for the Board to proceed with all necessary steps to transfer the company from the Industrial sector of the CSE index to the Other companies section.
The Board decided to review the matter of the rights issue to shareholders for its next meeting scheduled after the EGM.
It was also decided to call an EGM, following the AGM, to seek authorisation for the Board to proceed with buy-back of the company’s own shares. In addition the Board decided to propose to the EGM to approve a resolution whereby, taking into consideration the activities of the company in the investment sector and in view of the fact that the industrial sector does not offer satisfactory prospects for profits, for the company to expand further into the investment sector and for this to become the main activity of the company. Authorisation will be sought for the Board to proceed with all necessary steps to transfer the company from the Industrial sector of the CSE index to the Other companies section.
