Vassiliko Cement Works Public Company Ltd announces that the Board of Directors of the Company at its meeting held on 20 November 2014 resolved as follows:

A.      Approved the Consolidated Interim Financial Statements of the Company for the first nine months of 2014, a copy of which is attached herewith.

Please note that the financial results will be published on the local press; hard copies will not be mailed to the shareholders.

Copy of the full text of the unaudited interim financial statements for the first nine months of 2014 are available to the shareholders and investors, at the Offices of the Company, at 1A Kyriakos Matsis Avenue, “Koupadi” Building, 4th Floor, 1082 Nicosia.

B.      Approved the payment of an interim dividend for 2014 of €1.439.000 corresponding to €0,02 per share.

The dividend will be paid to the entitled shareholders of the Company who will be registered on the CSE registry on 5 December 2014 (record date).  The share of the Company will be traded in the CSE ex-dividend as of 4 December 2014.

Investors that will purchase shares at the CSE by close of business on 3 December 2014 (Last Cum Date) will be entitled to the dividend.  It is noted that shareholders entitled to the dividend will also be the holders of shares based on an off exchange transfer to be completed by the record date.  Payment of the dividend will be made (effected) till the 30 December 2014.

C.      Appointed, with immediate effect, Mr. Antonis Mikellides as non-executive independent Member of the Board of Directors, to fill in the casual vacancy occurred as a result of the resignation of Mrs Rena Rouvitha Panou from the Board of Directors.

Antonis Mikellides

Mr. Antonis Mikellides was born in London in 1978. He studied at the University of Westminster where he obtained a BA degree in Business Computing and holds a Postgraduate degree in Shipping, Trade and Finance from City University London as well as a diploma in Terrorism Studies, focusing mainly on Marine Piracy, from the University of St. Andrews in Scotland.

Mr. Α. Mikellides joined Zela Shipping Co Ltd in London in 2002 as a fleet operator, and in 2006 was in charge of restructuring the fleet’s management company in Piraeus Greece. As from 2010 he has been a Director, Chief Financial Officer and Vice-President of Olympia Ocean Carriers Ltd and in 2012 also became a Director of Sea Trade Holdings. Mr. Antonis Mikellides has been elected on the Board of Directors of the Cyprus Union of Shipowners since 2009.

D.      Appointed Mr. Antonis Mikellides as new member of the Audit Committee to replace Mrs Rena Rouvitha Panou. Following above appointment the following comprise the Audit Committee of the Board of Directors:  

Audit Committee

Mr. Costas St. Galatariotis – Non Executive Director

Mr. Leondios Lazarou – Independent Non-Executive Director

Mr. Antonis Mikellides – Independent Non-Executive Director