Financial Results
Atlantic: Final results 2012 – Proposed div of €0.05 – AGM and EGM on 12/6 for buyback
Atlantic: Final results 2012 – Proposed div of €0.05 – AGM and EGM on 12/6 for buyback
The Board of Directors of ATLANTIC INSURANCE COMPANY PUBLIC LTD announces that at the meeting held on April 25, 2013 at the Company’s Head Office, it decided the following:
1. Examined and approved the Annual Report, the audited consolidated financial statements, the audited financial statements of the parent company and the Corporate Governance Report for 2012. The final results for 2012 are lower by €0.52 million compared to the indicative results announced on February 22, 2013. This is mostly attributable to the increase in the provision for the full impairment in the value of shares of Bank of Cyprus by €0.48 million.
2. The Board of Directors, due to the recent developments relating to the Eurogroup decisions and their impacts on the Cypriot economy and the operating environment of the Company, decided to propose the payment of a dividend of 5 cents per share instead of the initial proposal for the payment of a dividend of 6 cents per share.
3. It was decided that the Annual General Meeting will take place on Wednesday, June 12, 2013 at 17.00 at the Company’s Head Office.
4. The AGM will be followed by an Extraordinary General Meeting for the approval of the following resolutions:
Special resolution 1
“That the Board of Directors be authorized to adopt a buyback program, pursuant to the provisions of the Companies’ Law 2000 and the provisions of Regulation 2273/2003 of the European Commission. The shares will be acquired either by private agreement or from the market”.
Copies of the results will be available free of charge at the Company’s Head Office, 15 Esperidon, 2001 Strovolos and the Company’s website, www.atlantic.com.cy. The Annual Report will be available in printed form during the AGM.
Regulated
Filing Date: 26/04/2013 17:06
