FIRST QUARTER FINANCIAL RESULTS & ANNUAL GENERAL MEETING'S RESOLUTIONS

Vassiliko Cement Works announces the resolutions of its Board of Directors as well as the resolutions of its Annual General Meeting held on 29 May 2014.

Board meeting resolutions

The Board of Directors of Vassiliko Cement Works Public Company Ltd approved the Report and the Consolidated Interim Financial Statements of the Company for the first quarter of 2014. 

The Report of the Board of Directors and the Consolidated Interim Financial Statements for the first quarter of 2014 are attached herewith.  Please note that the financial results for the first quarter will be published in the local press; hard copies will not be mailed to the shareholders.

Copies of the Report of the Board of Directors and the Consolidated Interim Financial Statements for the first quarter of 2014 are available to the shareholders and the investors at the Registered Offices of the Company at 1Α Kyrakos Matsis Avenue, Koupati Building, 4th Floor, 1082 Nicosia.

Resolutions of the Annual General Meeting

At the Annual General Meeting of the shareholders of Vassiliko Cement Works Public Company Ltd held on the 29 May 2014, the following resolutions were passed:

(a)    The Annual Report and Financial Statements of the Company for the year 2013 were approved.

(b)    The payment of a dividend out of the Company’s reserves amounting to €1.079.039 corresponding to €0,015 per ordinary share was approved.

The dividend will be paid to the entitled shareholders of the Company that will be registered at the CSE registry as at 13 June 2014 (record date).  The shares of the Company will be traded in the CSE without the right to the dividend (ex-dividend) as from 11 June 2014.

Investors that will purchase shares at the CSE by close of business on 10 June 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 25 June 2014.

(c)    The directors Messrs Costas St. Galatariotis, Leondios Lazarou, Charalambos Panayiotou and Mrs Rena Rouvitha Panou, who retired by rotation, were re-elected. 

(d)    The Remunerations Report was approved.

(e)    It was resolved that the Directors’ remuneration for the year 2014 shall remain the same as that of the previous year i.e. €8.000 for the Chairman and €6.000 for each of the members of the Board of Directors and €200 attendance fee for the meetings of the Board of Directors and its Committees.

(f)    Messrs KPMG Limited were re-appointed as the Company’s auditors and the Board of Directors was authorised to determine their remuneration for 2014 at a later stage.

Download 1Q FINANCIAL RESULTS ENG.pdf