Orphanides: Indicative results 2011 – AGM on 28/6 – Restructuring of CGC Committees
24/2/2012 8:16
Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, the Board of Directors of Orphanides Public Company Limited announces that:
1. Indicative results 2011
At the meeting held on February 23, 2012, at the Company’s Head Office, the Board of Directors examined and approved the indicative results for 2011. The results, which have been prepared pursuant to the same accounting standards as those adopted in the annual accounts and are in accordance with the International Financial Reporting Standards, are attached. The results will not be posted to the shareholders but will be available free of charge at the Company’s registered office, 20-22 Yiannou Kranidioti Avenue, Larnaca or the Company’s website: www.orphanides.com.cy.
The results together with the explanatory report will be published in newspapers Phileleftheros on February 26, 2012 and Financial Mirror on February 29, 2011.
2. Annual General Meeting
Pursuant to Article 127B(4) of the Companies’ Law Chapter 113, the Company announces that the Annual General Meeting will take place on June 28, 2012. The agenda will be determined during the examination of the final results for 2011, which will be announced and posted in due time, pursuant to the provisions of the Law.
3. Restructuring of BoD Committees / Corporate Governance Code
The Board of Directors examined the restructuring of the Audit Committee based on the Corporate Governance Code further to the withdrawal of Mr. Michalis Petsas (20/1/2012).
Mr. Simos Kyriakides (Non Executive Director) was appointed as new member and Chairman of the Remunerations Committee. The composition of the Committees is as follows:
1. Audit Committee: Marios Antoniades (Chairman), Christos Fylaktou, Polys Kourousides and Giorgos Hadjimichael
2. Nominations Committee: Christos Orphanides (Chairman), Simos Kyriakides, Giorgos Hadjimichael, Ntinos Lefkaritis
3. Remunerations Committee: Simos Kyriakides (Chairman), Marios Antoniades and Polys Kourousides
1. Indicative results 2011
At the meeting held on February 23, 2012, at the Company’s Head Office, the Board of Directors examined and approved the indicative results for 2011. The results, which have been prepared pursuant to the same accounting standards as those adopted in the annual accounts and are in accordance with the International Financial Reporting Standards, are attached. The results will not be posted to the shareholders but will be available free of charge at the Company’s registered office, 20-22 Yiannou Kranidioti Avenue, Larnaca or the Company’s website: www.orphanides.com.cy.
The results together with the explanatory report will be published in newspapers Phileleftheros on February 26, 2012 and Financial Mirror on February 29, 2011.
2. Annual General Meeting
Pursuant to Article 127B(4) of the Companies’ Law Chapter 113, the Company announces that the Annual General Meeting will take place on June 28, 2012. The agenda will be determined during the examination of the final results for 2011, which will be announced and posted in due time, pursuant to the provisions of the Law.
3. Restructuring of BoD Committees / Corporate Governance Code
The Board of Directors examined the restructuring of the Audit Committee based on the Corporate Governance Code further to the withdrawal of Mr. Michalis Petsas (20/1/2012).
Mr. Simos Kyriakides (Non Executive Director) was appointed as new member and Chairman of the Remunerations Committee. The composition of the Committees is as follows:
1. Audit Committee: Marios Antoniades (Chairman), Christos Fylaktou, Polys Kourousides and Giorgos Hadjimichael
2. Nominations Committee: Christos Orphanides (Chairman), Simos Kyriakides, Giorgos Hadjimichael, Ntinos Lefkaritis
3. Remunerations Committee: Simos Kyriakides (Chairman), Marios Antoniades and Polys Kourousides
