Dividend Announcements
Atlantic: AGM decisions – Dividend of €0.075 – EGM approved buyback
Atlantic: AGM decisions – Dividend of €0.075 – EGM approved buyback
The Annual General Meeting of Atlantic Insurance Company Public Ltd held on June 10, 2015 at 18.00 at the Company’s Head Office:
1. Approved the Annual Report and the financial statements for the year ended December 31, 2014.
2. Approved the proposal of the Board of Directors for the payment of a dividend of 7.5 cents per share of nominal value €0.34. The record date will be June 18, 2015. The shareholders who will be registered in the Shareholders registry on the record date or who will hold securities based on an off-floor transfer that will be completed until the record date will be the beneficiaries of the dividend. As a result, the shares will trade ex-dividend on June 17, 2015. The dividend will be paid to the shareholders on July 8, 2015.
3. Pursuant to the regulations of the Articles of Association, Ms. Nina Pirishi and Messrs. Giorgos Pirishis and Panayiotis Mallis withdrew pursuant to the rotation process but put themselves forward for re-election and were re-elected.
4. Approved the remuneration of the Board members, which remains at €500 per annum.
5. Approved the reappointment of Joannides & Co Ltd as auditors and authorized the Board of Directors to set their remuneration.
Also, the Extraordinary General Meeting held after the AGM approved the following resolution:
Special Resolution
“That the Board of Directors be authorized to proceed to buyback of own shares pursuant to article 57A of the Company’s Law Chapter 113 (as amended). The minimum and maximum acquisition price of shares will not exceed (5%) of the average market value of transactions carried out in the Cyprus Stock Exchange over the last five trading sessions prior to the acquisition of the shares. The company can buy back the maximum number of shares allowed by the law within the period of twelve months from the approval of the current resolution. The shares can be acquired either by private agreement or by buying from the market”.
The above resolution was approved for the renewal of the Buyback Program for the period from June 10, 2015 to June 9, 2016.
Not Regulated
Filing Date: 11/06/2015 12:31
