The Extraordinary General Meeting of Phil. Andreou Public Ltd will take place on Thursday, August 29, 2013 at 15.30 at 5 Iapetou, Ayios Athanasios Industrial Area, Limassol.
Agenda
Until May 9, 2013 the Company was in the Parallel Market and then it was transferred to the Special Category. The Company had no obligation to adopt fully the Corporate Governance Code but within the framework of the importance given to the proper governance it adopted fully the Code on April 16, 2013 voluntarily and had always been consistent with its obligations. Due to the financial crisis and the intensive effort to reduce the operating cost, the Company believes that its main obligations on the basis of the CGC may be met without its full implementation, which adds significant cost to the Company. Therefore, the Board of Directors decided to hold an Extraordinary General Meeting to examine the continuation or not of the full implementation of the Corporate Governance Code.
In order to protect investors:
1. The Board of Directors is pledged to keep partly the Code based on the regulations and to continue implementing the main policies provided under the CGC for the equal treatment of the shareholders.
2. The operation of the internal audit will be continued but the results and findings will be examined directly by the Board of Directors.
Note: A person who is entitled to attend and vote during the EGM is also entitled to appoint a representative to attend and vote on his/her behalf. It is not necessary that the representative is a shareholder of the Company. The document for the appointment of the proxy is available at the Company’s Head Office, 5 Iapetou, Ayios Athanasios Industrial Area, Limassol. The document must be submitted to the Company’s registered office at least 48 hours prior to the EGM. The document must bear the official seal of the Company and the signature of authorized persons.
Agenda
Until May 9, 2013 the Company was in the Parallel Market and then it was transferred to the Special Category. The Company had no obligation to adopt fully the Corporate Governance Code but within the framework of the importance given to the proper governance it adopted fully the Code on April 16, 2013 voluntarily and had always been consistent with its obligations. Due to the financial crisis and the intensive effort to reduce the operating cost, the Company believes that its main obligations on the basis of the CGC may be met without its full implementation, which adds significant cost to the Company. Therefore, the Board of Directors decided to hold an Extraordinary General Meeting to examine the continuation or not of the full implementation of the Corporate Governance Code.
In order to protect investors:
1. The Board of Directors is pledged to keep partly the Code based on the regulations and to continue implementing the main policies provided under the CGC for the equal treatment of the shareholders.
2. The operation of the internal audit will be continued but the results and findings will be examined directly by the Board of Directors.
Note: A person who is entitled to attend and vote during the EGM is also entitled to appoint a representative to attend and vote on his/her behalf. It is not necessary that the representative is a shareholder of the Company. The document for the appointment of the proxy is available at the Company’s Head Office, 5 Iapetou, Ayios Athanasios Industrial Area, Limassol. The document must be submitted to the Company’s registered office at least 48 hours prior to the EGM. The document must bear the official seal of the Company and the signature of authorized persons.
Wednesday, 7 August, 2013 - 08:29