Orphanides: Final results 2009 – Proposed div of €0.01 – AGM on 24/6 – Lease of warehouses
30/4/2010 13:20
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:
At the meeting held on Friday, April 30, 2010 at the Company’s Head Office, the Board of Directors decided the following:
1. Final results 2009
The Board of Directors examined and approved the final results for the year ended December 31, 2009. The net profit stands at €3,816,631 (2008: €501,011).
In order to fully inform the investing public, the results are attached. Copies will be available free of charge at the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca.
2. Dividend
The Board of Directors proposes the payment of a final dividend of €809,622 (€0.01 per ordinary share, 3% on the nominal value of the share). The proposal will be approved by the AGM.
3. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 24, 2010 at 17.00 at Orphanides Mall in Nicosia.
4. Lease of warehouses
The Board of Directors approved the signing of the lease document (with effect from May 1, 2010) with an associated company of Board member, Christos Orphanides for the lease of warehouses that serve the Company’s needs. The rent stands at €3,440 per month, which is lower than the estimated value after an independent valuation report. The lease period will commence from May 1, 2010 for a period of two years with a right to renew it for 2 years more. The tenant will be entitled to 8% increases every two years.
At the meeting held on Friday, April 30, 2010 at the Company’s Head Office, the Board of Directors decided the following:
1. Final results 2009
The Board of Directors examined and approved the final results for the year ended December 31, 2009. The net profit stands at €3,816,631 (2008: €501,011).
In order to fully inform the investing public, the results are attached. Copies will be available free of charge at the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca.
2. Dividend
The Board of Directors proposes the payment of a final dividend of €809,622 (€0.01 per ordinary share, 3% on the nominal value of the share). The proposal will be approved by the AGM.
3. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 24, 2010 at 17.00 at Orphanides Mall in Nicosia.
4. Lease of warehouses
The Board of Directors approved the signing of the lease document (with effect from May 1, 2010) with an associated company of Board member, Christos Orphanides for the lease of warehouses that serve the Company’s needs. The rent stands at €3,440 per month, which is lower than the estimated value after an independent valuation report. The lease period will commence from May 1, 2010 for a period of two years with a right to renew it for 2 years more. The tenant will be entitled to 8% increases every two years.
