DIVIDEND IN THE FORM OF SHARES
At its meeting held today, 8 November 2013, the Board of Directors of the Company decided to distribute a dividend of €0.05 per share in the form of shares from the profits of the year 2011, at an issue price of €0.17 per share (‘Issue Price’). The decision of the Board of Directors to distribute a dividend in the form of shares from the profits of the year 2011 will have to be approved at an Extraordinary General Meeting of the shareholders of the Company, which will be held at Le Meridien Limassol Spa & Resort hotel in Limassol, on Thursday 5 December 2013 at 10:00 a.m.
The ‘Issue Price’, has been determined based on the nominal value of the share. The issue of new shares to shareholders as a dividend will be based on the net payable dividend. The amount of the net payable dividend to be distributed to each shareholder will not be paid in cash but will be used for the full payment of new ordinary shares of the Company that will be issued at the Issue Price and will be allocated as fully paid shares to the shareholders. The actual number of shares to be issued to each shareholder will be determined by the division of the amount of net payable dividend in the form of shares corresponding to each shareholder by the Issue Price for each ordinary share of the Company. Where the number of shares to be allocated to each shareholder is a fractional number, then if this number is less than ½ it will be ignored, but if this number equals or is greater than ½ then one additional whole share will be granted.
FINANCIAL CALENDAR OF CORPORATE ACTION
The Record Date for the dividend in the form of shares is Wednesday 18 December 2013, i.e. transactions that take place before market close of the Cyprus Stock Exchange on 13 December 2013 will be eligible for the dividend in the form of shares. Furthermore, eligible investors will be shareholders following off the exchange transfers completed on the record date, 18 December 2013. The ex-dividend date is Monday, 16 December 2013.
The new shares that will arise from the dividend distribution in the form of shares will be allocated to eligible shareholders on Wednesday 18 December 2013 (subject to the approval of a special resolution by the Extraordinary General Meeting). The Company will take all necessary actions for the listing of the new shares arising from the dividend distribution in the form of shares on the Cyprus Stock Exchange. The date of listing of the new shares will be announced on the Cyprus Stock Exchange.
DEDUCTION OF DEFENCE FUND CONTRIBUTION ON DIVIDENDS
Physical persons who are Non Cyprus Residents are reminded to submit to the Company the questionnaire of the Inland Revenue Department for ascertaining whether conditions relating to the term ‘Non Cyprus Resident’ are met for the year 2013.
The questionnaire must be received by the Company on Monday 16 December 2013 the latest. If the questionnaire is not received in time, the Company is obliged by Law to deduct defence fund contribution from the payable dividend in the form of shares.
Limassol, 8 November 2013
C.C.C. Secretarial Ltd