Orphanides: AGM decisions – Dividend of €0.01
25/6/2010 9:27
Orphanides Public Company Limited announces that the Annual General Meeting took place on Thursday, June 24, 2010 at 17.00 at Orphanides Mall in Nicosia. The AGM decided the following:
1. Financial statements
The AGM approved the final Audited results for the year ended December 31, 2009 as these have been approved by the external auditors of the Company, the Directors’ Report, the Auditors’ Report and the Corporate Governance Code.
2. Approval of dividend payment
The AGM approved the proposal of the Board of Directors for the payment of a final dividend of €809,622 (€0.01 per ordinary share, 3% on the nominal value of the share).
The record date will be Wednesday, July 7, 2010.
The ex-dividend date will be Monday, July 5, 2010 and the cum-dividend date will be Friday, July 2, 2010. Investors registered in the Shareholders’ Register on Wednesday, July 7, 2010 or hold securities based in an off-floor transfer that will be completed by Wednesday, July 7, 2010 will be entitled to the dividend.
The dividend will be paid to the shareholders on Friday, July 23, 2010.
3. Appointment of Board members
Pursuant to the Articles of Association and the provisions of the Corporate Governance Code, the AGM re-elected Messrs. Christos Orphanides (Chairman, Executive Director), Simos Kyriakides (Non-Independent – Non-Executive) and Michalis Petsas (Independent – Non-Executive) as Board members.
Messrs. Christos Fylaktou. Poly Kourousides, Ntinos Lefkaritis and Marios Antoniades (Independent – Non-Executive) and Giorgos Hadjimichael (Non-Independent – Non-Executive) continue to be Board members.
It is noted that Dr. Simos Kyriakides – due to his nine-year terms of office in the BoD – from May 18, 2010is no longer an Independent but a Non-Independent. This change does not affect the balance of the Board of Directors between the independent and non-independent Board members pursuant to the Corporate Governance Code since the majority of the Board members are independent.
4. Remuneration of Board members
The remuneration of the Board members will remain the same as in 2009, i.e. €4,000 each and €70 per meeting attended.
5. Appointment of auditors
The AGM reappointed KPMG as auditors and authorized the Board of Directors to set their remuneration.
1. Financial statements
The AGM approved the final Audited results for the year ended December 31, 2009 as these have been approved by the external auditors of the Company, the Directors’ Report, the Auditors’ Report and the Corporate Governance Code.
2. Approval of dividend payment
The AGM approved the proposal of the Board of Directors for the payment of a final dividend of €809,622 (€0.01 per ordinary share, 3% on the nominal value of the share).
The record date will be Wednesday, July 7, 2010.
The ex-dividend date will be Monday, July 5, 2010 and the cum-dividend date will be Friday, July 2, 2010. Investors registered in the Shareholders’ Register on Wednesday, July 7, 2010 or hold securities based in an off-floor transfer that will be completed by Wednesday, July 7, 2010 will be entitled to the dividend.
The dividend will be paid to the shareholders on Friday, July 23, 2010.
3. Appointment of Board members
Pursuant to the Articles of Association and the provisions of the Corporate Governance Code, the AGM re-elected Messrs. Christos Orphanides (Chairman, Executive Director), Simos Kyriakides (Non-Independent – Non-Executive) and Michalis Petsas (Independent – Non-Executive) as Board members.
Messrs. Christos Fylaktou. Poly Kourousides, Ntinos Lefkaritis and Marios Antoniades (Independent – Non-Executive) and Giorgos Hadjimichael (Non-Independent – Non-Executive) continue to be Board members.
It is noted that Dr. Simos Kyriakides – due to his nine-year terms of office in the BoD – from May 18, 2010is no longer an Independent but a Non-Independent. This change does not affect the balance of the Board of Directors between the independent and non-independent Board members pursuant to the Corporate Governance Code since the majority of the Board members are independent.
4. Remuneration of Board members
The remuneration of the Board members will remain the same as in 2009, i.e. €4,000 each and €70 per meeting attended.
5. Appointment of auditors
The AGM reappointed KPMG as auditors and authorized the Board of Directors to set their remuneration.
