According to your request dated November 16, 2007, which was received today November 19, 2007, we wish to announce the following:
Due to financial problems, at a meeting held on August 26, 2007, the Board of Directors accepted the proposal of the Company’s founders, Messrs. Michalakis Ioannides and Costas Constantinides that their salary is reduced by more than 50% to £1,500 per month and they have the right to reduce their working hours to 50%.
At a meeting held on April 25, 2007, the Board of Directors also decided that after their withdrawal from the Company, their wives receive a pension of £750 per month.
Due to financial problems, at a meeting held on August 26, 2007, the Board of Directors accepted the proposal of the Company’s founders, Messrs. Michalakis Ioannides and Costas Constantinides that their salary is reduced by more than 50% to £1,500 per month and they have the right to reduce their working hours to 50%.
At a meeting held on April 25, 2007, the Board of Directors also decided that after their withdrawal from the Company, their wives receive a pension of £750 per month.
Monday, 19 November, 2007 - 13:54