Demetra: AGM decisions – Board changes – Buyback
4/9/2014 8:22
We wish to announce that the 14th Annual General Meeting of Demetra Investment Public Ltd took place on Wednesday, September 3, 2014 at 10.00 am at the Hilton Park Hotel in Nicosia.
The AGM approved the following:
1. The Directors’ Report for the year ended December 31, 2013.
2. The Annual Report on the Corporate Governance and the Remunerations Policy.
3. The consolidated financial statements and the Auditors’ Report for the year ended December 21, 2013.
4. The resignation of Messrs. Demetrios Stavrou-Tseriotis and Kriton Georgiades, the election of Mr. Demetris Filippides and Mr. Andys Scordis and the re-election of Dr. Nearhos Ioannou as Board member.
5. The setting of the remuneration of the Board of Directors.
6. The appointment of auditors and the authorization of the Board of Directors to set their remuneration.
7. Special Decision
“That the Board of Directors be authorized to proceed to buyback of own shares pursuant to article 57A of the Company’s Law Chapter 113. The minimum and maximum acquisition price of shares will not exceed (5%) of the average market value of transactions carried out in the Cyprus Stock Exchange over the last five trading sessions prior to the acquisition of the shares. The company can buy back the maximum number of shares allowed by the law within the period of twelve months from the approval of the current resolution. The shares can be acquired either by private agreement or by buying from the market and the duration that can hold the shares cannot exceed two years from the date of acquisition”.
The AGM approved the following:
1. The Directors’ Report for the year ended December 31, 2013.
2. The Annual Report on the Corporate Governance and the Remunerations Policy.
3. The consolidated financial statements and the Auditors’ Report for the year ended December 21, 2013.
4. The resignation of Messrs. Demetrios Stavrou-Tseriotis and Kriton Georgiades, the election of Mr. Demetris Filippides and Mr. Andys Scordis and the re-election of Dr. Nearhos Ioannou as Board member.
5. The setting of the remuneration of the Board of Directors.
6. The appointment of auditors and the authorization of the Board of Directors to set their remuneration.
7. Special Decision
“That the Board of Directors be authorized to proceed to buyback of own shares pursuant to article 57A of the Company’s Law Chapter 113. The minimum and maximum acquisition price of shares will not exceed (5%) of the average market value of transactions carried out in the Cyprus Stock Exchange over the last five trading sessions prior to the acquisition of the shares. The company can buy back the maximum number of shares allowed by the law within the period of twelve months from the approval of the current resolution. The shares can be acquired either by private agreement or by buying from the market and the duration that can hold the shares cannot exceed two years from the date of acquisition”.
