Orphanides: Final results 2011 – AGM on 28/6
30/4/2012 12:53
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. Annual Report/Final results 2011
At the meeting held on April 30, 2012 at the Company’s Head Office, the Board of Directors examined and approved the issue of the Annual Report for 2010, which comprises of the Directors’ Report, the Corporate Governance Report, the Auditors’ Report and the financial statements for 2011. The results of the Group (Loss of €8.65m) for the year ended December 31, 2011 are different from the indicative results (loss of €3.65m) announced on February 23, 2012. This is mostly attributable to: a) The deficit from revaluation of investments in bank bonds of €2.79m, b) the additional provisions concerning trade claims, expenses and amortization of goodwill.
The full text of the Annual Report for 2011, including the Corporate Governance Report, the Directors’ Report, the Auditors’ Report and the financial statements for the year ended December 31, 2010 will not be posted to the shareholders and will be available free of charge at the Investor Liaison Officer: LBS Lakoufis Business Services Ltd, 22bEvanthis, 1507, Nicosia (tel. 22775000/email: [email protected]) or the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca (tel. 24846000 or email: [email protected]). The information mentioned in paragraph (4) of article 127A of the Companies’ Law Chapter 113 will be available at the Company’s website, www.orphanides.com.cy.
2. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 28, 2012 at 17.00 at Orphanides Mall in Nicosia.
1. Annual Report/Final results 2011
At the meeting held on April 30, 2012 at the Company’s Head Office, the Board of Directors examined and approved the issue of the Annual Report for 2010, which comprises of the Directors’ Report, the Corporate Governance Report, the Auditors’ Report and the financial statements for 2011. The results of the Group (Loss of €8.65m) for the year ended December 31, 2011 are different from the indicative results (loss of €3.65m) announced on February 23, 2012. This is mostly attributable to: a) The deficit from revaluation of investments in bank bonds of €2.79m, b) the additional provisions concerning trade claims, expenses and amortization of goodwill.
The full text of the Annual Report for 2011, including the Corporate Governance Report, the Directors’ Report, the Auditors’ Report and the financial statements for the year ended December 31, 2010 will not be posted to the shareholders and will be available free of charge at the Investor Liaison Officer: LBS Lakoufis Business Services Ltd, 22bEvanthis, 1507, Nicosia (tel. 22775000/email: [email protected]) or the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca (tel. 24846000 or email: [email protected]). The information mentioned in paragraph (4) of article 127A of the Companies’ Law Chapter 113 will be available at the Company’s website, www.orphanides.com.cy.
2. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 28, 2012 at 17.00 at Orphanides Mall in Nicosia.
