DIVIDEND DECLARATION

We hereby wish to inform you that at the meeting of the Board of Directors of Vassiliko Cement Works Public Company Ltd, held on 19thMay 2016, the following decisions were taken:

(a)  Approval of Interim Financial Statements

The Report and the Consolidated Interim Financial Statements of the Company for the first quarter of 2016 were approved. 

The Report of the Board of Directors and the Consolidated Interim Financial Statements for the first quarter of 2016 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 2016 are available at the Registered Offices of the Company at 1Α Kyrakos Matsis Avenue, Koupati Building, 4th Floor, 1082 Nicosia.

(b)  Annual General Meeting

It was resolved that the 50th Annual General Meeting of the shareholders of the Company, for the approval of the Annual Report and the Consolidated Financial Statements of the Company for the year 2015, be convened at the Amathus Beach Hotel in Limassol, on Thursday 16th June 2016, at 5.00 p.m.

(c)  Dividend declaration

It was resolved to recommend to the forthcoming Annual General Meeting of the shareholders of the Company (to be held at the Amathus Beach Hotel in Limassol, on Thursday 16 June 2016, at 5.00 p.m.) to approve the payment of a dividend of €5.754.876 out of the profits of 2015, corresponding to €0,08 per fully paid share.

The dividend to be approved by the Annual General Meeting will be paid to the entitled shareholders of the Company that will be registered at the CSE registry as at 30 June 2016 (record date).  As a result, 29 June 2016 is determined to be the ex-dividend date, date from which the shares of the Company will be traded in the CSE without the right to the dividend.  

Investors that will purchase shares at the CSE by the close of business on 28 June 2016 (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 26 July 2016.