ANNUAL REPORT AND FINANCIAL STATEMENTS FOR 2016 - DIVIDEND DECLARATION - ANNUAL AND EXTRAORDINARY GENERAL MEETING

We hereby wish to inform you that at the meeting of the Board of Directors of Vassiliko Cement Works Public Company Ltd, held on 27thApril 2017, the following decisions were taken:

(a)  Approval of Consolidated Financial Statements

The Annual Report of the Board of Directors and the Consolidated Financial Statements of the Group for the year 2016 which had been duly audited by the external Auditors of the Company Messrs KPMG Limited, were approved. 

Copies of the Annual Report of the Board of Directors and the Consolidated Financial Statements of the Group for the year 2016 are available at the Registered Offices of the Company at 1Α Kyrakos Matsis Avenue, Koupati Building, 4th Floor, 1082 Nicosia, and will be uploaded to the Company’s website www.vassiliko.com (“Investor Relations”).

(b)  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 Tuesday 30 May 2017, at 5.00 p.m.) to approve the payment of an additional dividend for 2016 of €10.071.032, corresponding to €0,14 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 12 June 2017 (record date).  As a result, 9 June 2017 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 8 June 2017 (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 7 July 2017.

(c)  Annual General Meeting

It was resolved that the 51st 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 2016, be convened at the Amathus Beach Hotel in Limassol, on Tuesday 30th May 2017, at 5.00 p.m.

(d)  Extraordinary General Meeting

It was resolved that an Extraordinary General Meeting of the shareholders of the Company be convened at the Amathus Beach Hotel in Limassol, on Tuesday 30th May 2017, immediately after the closing of the Annual General Meeting, to examine and, if so resolved, approve the following Special Resolution:

Special Resolution

The Amendment of the Memorandum of the Company with the replacement of subparagraph 3(ρ) with the following new subparagraph 3(ρ):

“To receive money via loan under the terms that the Company shall approve and to provide/grant guarantees, collaterals, assurances, indemnities for the benefit of any natural or other person, with or without legal entity, including mortgaging, pledging, assigning, committing or charging in any way, the movable and immovable property/assets of the business and of the uncalled share capital of the Company or part thereof, in order to secure any debt, liability, loans, performance of contracts or obligations of the Company and/or subsidiaries and/or associated companies and/or joint ventures and/or partnerships of the Company, as well as to provide, either alone or jointly or with other person/s, loans or credit facilities, with or without any collateral security, in a way that the Company shall deem fit, to subsidiaries and/or associated companies and/or joint ventures and or partnerships which the Company participates in.”