Announcement of General Meeting
Iktinos Hellas SA, announces that the Extraordinary General Meeting of the Company held on December 20, 2016, at the headquarters of the company (Lykovryseos 7 Metamorfosi Attica, 144 52) at 12: 00pm present or represented shareholders holding 20,520,637 shares in total shares 28.5801 million, corresponding to 71,8% of the share capital and the following decisions were made, unanimously.
Item 1: Approval of Equity Shares of the Company through the ASE in accordance with the provisions of Fri the 1st and 2 of article 16 of Law 2190 /, in the following specific terms and conditions
• Duration for which the authorization is given: 12 months
• Maximum share price limit to which may be the acquisition: € 6,00
• Minimum share price limit to which may be the acquisition: € 0.40
• Maximum number of shares to be acquired: Up to 1/10 of the share capital (the total number of shares).
The company has already purchased 175,849 shares under previous decisions.
All specific issues that are not defined in the decision of the General Assembly (including, without limitation, process identification and acquisition mode of own shares, time determination and method for reallocating own shares to shareholders etc.) Will be determined by decisions of the Board of Directors while observing in each case of the relevant legislation.
Item 2: Approval of profit distribution amount from previous years 0.03 euros per share. Of this dividend, withholding attributable to dividend tax of 10%, according to the provisions of Article 3 paragraph 1 of the l. 4110/2013 and thus the total payable amount of dividend per share will amount to 0,027 euros.
The standard will be Thursday 16.03.2017, beneficiaries are the shareholders at the end of the meeting Friday 17.03.2017 and the payment will be made Friday 24.03.2017.
After the end of the General Assembly, and in response to questions on the part of shareholders, President & CEO, informed them regarding the progress of the company, the investments are expected to be implemented, and the intention of the company, if economic conditions allow to propose to the Annual General Meeting 2017 a dividend of use 2016, due to more rational management.
More specifically, the President & CEO, informed the shareholders of the company, that in 2016, sales at Group level cycle is expected to be at 2015 levels, while profit before taxes for 2016 will show significant improvement.
Regarding investment, the company will implement a three-year investment plan totaling approximately € 8.000.000, which relates to the acquisition marble processing plant in the area of Drama and purchase of new machinery and equipment for the quarrying of the company. This investment will greatly increase productivity in order to meet the continuous growing demand of marble. Already, the company has entered into partnerships to process (facon) with other processing units in response to the ever increasing demand needs of marbles.