Logicom: Annual Report 2008 and AGM notification posted
It is announced that the Annual Report and the financial statements for 2008 were posted to the shareholders on 6/5/2009 together with the notification for the Annual General Meeting, which will take place on Wednesday, June 3, 2009 at 19.00 at the Hilton Park Hotel in Nicosia to deal with the following:
1. Examination of the Directors’ Report and the financial statements for 2008 and approval of the dividend.
2. Election of Board members.
3. Setting of the remuneration of the Board members.
4. Reappointment of KPMG as auditors and authorization of the Board of Directors to set their remuneration.
1. Examination and – if deemed necessary – approval of the following decision as special decision:
That the Company’s Articles of Association be amended as follows:
In the title before article 45 of the Articles of Association, the words “Buyback of own shares” will be added and after article 47 of the Articles of Association, the following new article will be added:
“47A. Pursuant to the terms and the provisions of the Law, the Company may acquire its own shares either directly or via a person acting in his/her name and on behalf of the Company”.
2. Examination and – if deemed necessary – approval of the following decision as special decision:
“That from the date of completion of the procedure for the amendment of the Articles of Association that was decided with the special decision of today’s meeting, the Board of Directors authorizes and is authorized to buyback own shares within 12 months from the date of this decision under the following terms and conditions:
1. The acquisition will be carried out either be private agreement or from the market with the disposal of realized and undistributed profits or else.
2. The total nominal value of the shares acquired and held, including the shares that the Company or a third party on behalf of the Company holds will not exceed 10% of the issued capital or 25% of the average value of transactions 30 days prior, whichever of the amounts is the smallest.
3. The duration of possession of the shares that will be acquired will not exceed two years.
4. The maximum price will not exceed 5% of the average market price of the share over the last five sessions prior to such purchase and there will be no restriction in the minimum price.
5. The current provisions of the Law and Regulations will be abided by.
3. Other special activities for issues that might be proposed by the shareholders pursuant to the current provisions. As soon as such issues emerge, an announcement will be issued prior to the AGM.
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