Petsas: AGM decisions – EGM approved redenomination of capital
10/6/2008 8:54
Andreas Petsas and Sons Public Ltd announces that the Annual General Meeting held on June 9, 2008 at 16.00 at the Company’s office in Nicosia approved the following:
1. Approved the balance sheet and the profit and loss account for the year ended December 31, 2007.
2. Decided not to pay a final dividend to the shareholders for 2007.
3. Decided that the remuneration of the Board members remain the same in 2008.
4. Reappointed Deloitte and Touche as auditors and authorized the Board of Directors to set their remuneration.
5. Reelected Messrs. Constantinos Milonas and Marios Kallis as Board members, who put themselves forward for reelection and were reelected pursuant to the Articles of Association.
After the end of the AGM, the Extraordinary General Meeting approved the following ordinary resolution:
Ordinary Resolution
That in order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
a. The share capital of the Company be redenominated from Cyprus pounds in euros.
b. The nominal value of the share be redenominated and increased after the upward rounding from £0.20 to €0.35.
c. The nominal capital of the Company be redenominated and increased from £12,000,000 (€20,503,217) divided into 60,000,000 shares of nominal value £0.20 each to €21,000,000 divided into 60,000,000 shares of nominal value €0.35 each.
d. The issued share capital of the Company be redenominated and increased from £7,002,621 (€11,964,688) divided into 35,013,105 shares of nominal value €0.35 each and that this increase be carried out with the capitalization of part of the accumulated profits reserve.
The resolution has been approved and the auditors have been authorized to make all necessary amendments.
1. Approved the balance sheet and the profit and loss account for the year ended December 31, 2007.
2. Decided not to pay a final dividend to the shareholders for 2007.
3. Decided that the remuneration of the Board members remain the same in 2008.
4. Reappointed Deloitte and Touche as auditors and authorized the Board of Directors to set their remuneration.
5. Reelected Messrs. Constantinos Milonas and Marios Kallis as Board members, who put themselves forward for reelection and were reelected pursuant to the Articles of Association.
After the end of the AGM, the Extraordinary General Meeting approved the following ordinary resolution:
Ordinary Resolution
That in order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
a. The share capital of the Company be redenominated from Cyprus pounds in euros.
b. The nominal value of the share be redenominated and increased after the upward rounding from £0.20 to €0.35.
c. The nominal capital of the Company be redenominated and increased from £12,000,000 (€20,503,217) divided into 60,000,000 shares of nominal value £0.20 each to €21,000,000 divided into 60,000,000 shares of nominal value €0.35 each.
d. The issued share capital of the Company be redenominated and increased from £7,002,621 (€11,964,688) divided into 35,013,105 shares of nominal value €0.35 each and that this increase be carried out with the capitalization of part of the accumulated profits reserve.
The resolution has been approved and the auditors have been authorized to make all necessary amendments.
