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    PLAKR   GRS326003019

PLASTIKA KRITIS S.A.

(PLAKR)
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Plastika Kritis S A : ANNOUNCEMENT FOR THE DECISIONS OF THE ANNUAL ORDINARY GENERAL MEETING OF 30.06.2021

07/01/2021 | 08:48am EDT

Heraklion, July 1st, 2021

ANNOUNCEMENT FOR THE DECISIONS OF THE ANNUAL ORDINARY GENERAL

MEETING

The Societe Anonyme «PLASTIKA KRITIS S.A.», within its obligations deriving from the Regulation of Operation of Athens Stock Exchange, informs the investment public that on June 30th, 2021 at 13:00 hours, at the company's offices at the Industrial Area of Heraklion, took place the Ordinary General Meeting of its Shareholders, according to the 09/06/2021 invitation of its Board of Directors.

The General Meeting attended in person or were represented, shareholders that were representing 25.701.479 shares and votes, out of a total of 27.379.200 shares, i.e. representation percentage 93,872% of the Company's share capital with voting rights, and after gathering the required by Law and the statute quorum and majority, Mr John Lempidakis, Chairman of the Board, was appointed Chairman of the General Meeting, and Mrs. Anna Lempidaki, Vice-Chairman of the Board, was appointed Secretary of the General Meeting, and then all the issues of the daily agenda were discussed and voted upon, as follows:

1st Issue -Submission for approval of the annual financial statements (Corporate and Consolidated) of the corporate year 2020 (01.01.2020 - 31.12.2020) as well as the reports of the Board of Directors and the Certified Auditor of the Company.

The General Meeting unanimously approved, by a proportion of valid votes 93,872% of the paid- up share capital of the Company (i.e. 25.701.479 shares, and 25.701.479 valid positive votes) the Annual Financial Statements (Corporate and Consolidated) of the corporate fiscal year 2020, as well as the reports of the Board of Directors and the Certified Auditor.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

2nd Issue -Approval of the distribution of profits for the year 2020.

The General Meeting unanimously approved, by a proportion of valid votes 93,872% of the paid- up share capital of the Company (i.e. 25.701.479 shares, and 25.701.479 valid positive votes) the distribution of the profits of the corporate year 2020. In detail, the profits of the year 2020 before taxes amounted to 36,863,605.58 euros and after the deduction of tax 4,099,060.04 euros, there are profits available for a total amount of 32,764,545.54 euros which will be allocated as follows:

Regular Reserve

1.638.227,28

Reserve L.3908

1.035.000,00

Reserve L.4399

939.723,01

Reserve L.4172

Article 48

4.249.780,94

Reserve L.4172

Article 71 A

6.400.000.00

Retained Earnings

18.501.814.31

Total

32.764.545,54

The distribution of net profits of 845,000 euros, which according to the principles and rules of International Accounting Standards had been considered for the formation of profits for the year 2020, was unanimously approved, for payment to members of the Board of Directors, who substantially contributed to the Company's objectives during the year 2020.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

3rd Issue -Decreasing the share capital of the company by returning cash to the shareholders, by decreasing the nominal value of each share and amending article 5 of the Articles of Association.

The General Meeting with 25.701.479 valid votes corresponding to 93,872% of the paid-up share capital of the Company unanimously approved the reduction of the share capital of the Company by 12,320,640 euros with a return of capital to the shareholders and the reduction of the nominal value of the share by 0.45, so the nominal value of the share will amount to 0.75 euros. After that, the share capital of the Company will amount to 20,534,400 euros and will consist of 27,379,200 shares with a nominal value of 0.75 euros.

The return of capital that will be given is 0.45 euros per share and will be paid to the Shareholders of the company from its available cash according to the following schedule:

Thursday 29.07.2021:

Cut off right of return of capital

Friday 30.07.2021:

Date of identification of capital return beneficiaries (record date)

Thursday 05.08.2021:

Start of payments for capital return

The General Meeting provides the Board of Directors of the company with all the necessary authorizations in order to implement the decision taken for the return of capital.

The General Meeting then unanimously decided, with 25.701.479 valid votes corresponding to 93,872% of the paid-up share capital, to amend Article 5 of the Articles of Association with the following addition to its text:

"…… With the decision of the Ordinary General Meeting of 30.06.2021, the share capital of the

Company was reduced by twelve million three hundred and twenty thousand six hundred forty euros (12,320,640) with a return of cash to the shareholders of 0.45 euros per share with a reduction of the nominal value of the share from 1.20 euros to 0.75 euros.

Thus the Share Capital of the Company amounts to twenty million five hundred thirty four thousand four hundred euros (20,534,400) and is divided into twenty seven million three hundred seventy nine thousand two hundred (27,379,200) registered shares with nominal value of 0.75 euro each one. »

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

4th Issue -Briefing of the Chairman of the Audit Committee on the Committee's activities in the fiscal year 2020.

The Chairman of the Audit Committee informed the General Meeting of shareholders on the activities of the Audit Committee during the financial year 2020 by submitting the annual report on the activities of the Audit Committee for the year 2020, according to the provisions of article 44 par. 1 (h) of law 4449/2017.

The annual report on the activities of the Audit Committee for the year 2020 is made available on the company's website.

5th Issue -Approval of the overall management of the Company and release of the Certified Auditors-Accountants from any liability for compensation for the year 2020.

The General Meeting unanimously approved, by a proportion of valid votes 93,872% of the paid- up share capital of the Company (i.e. 25.701.479 shares, and 25.701.479 valid positive votes) the overall management of the Company and the exemption of Certified Auditors from any liability for compensation about the management of the Company and the Financial Statements for the year 2020.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

6th Issue -Election of a regular and an alternate Certified Auditor for the year 2021 and determination of their remuneration.

The General Meeting decided unanimously, by a proportion of valid votes 93,872% of the paid- up share capital of the Company (i.e. 25.701.479 shares, and 25.701.479 valid positive votes) the election of a regular and an alternate Certified Auditor for the fiscal year 2021 from the register of auditors of Α.Ε.Ο.Ε. S.O.L. Specifically, Mr. Evangelos Romanakis, son of Ioannis, Certified Public Accountant-Auditor with (Α.Μ.S.O.E.L 36541), and professional address L. 62 Martiron 209-211, Heraklion, Crete, as a regular Auditor and Mrs. Eleftheria Amountza son of Evangelos, Certified Auditor (Α.Μ.S.Ο.Ε.L 29041), and professional address F. Negri 3 Athens, as an alternate auditor.

It is noted that the above mentioned Certified Auditors will undertake the process of issuing the annual certificate and the tax compliance report of the Company for the year 2021, in accordance with the provisions of article 65A of law 4174/2013, as well as the audit of the completeness of the information in the remuneration report.

Subsequently, in order to determine their remuneration, the General Meeting approved the decision of the Board of Directors dated 08-06-2021, which was brought to the attention of the shareholders.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

7th Issue -Provision of permission, according to article 98 par. 1 of law 4548/2018, to the members of the Board of Directors and the managers of the Company, to participate in Boards of Directors or in the management of companies of the Group.

The General Meeting unanimously approved, by a proportion of valid votes 93,872% of the paid- up share capital of the Company (i.e. 25.701.479 shares, and 25.701.479 valid positive votes) the proposal of the Board of Directors for granting a license, in accordance with article 98 par. 1 of law 4548 / 2018, to the members of the Board of Directors and the executives of the Company, to participate in the Boards of Directors or in the management of companies of the Group.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

8th Issue -Approval of the amendment of the remuneration policy in accordance with the provisions of article 110 of law 4548/2018.

The Chairman informed about the unanimous suggestion of the Board of Directors to the General Meeting to approve the amended remuneration policy of the members of the Board of Directors as provided by article 110 par. 2 of Law 4548/2018.

The remuneration policy, which is brought to the attention of the shareholders and submitted for approval by the General Meeting, will have a duration of four years and will be applied to the remuneration of the Board of Directors in accordance with the provisions of articles 110 and 111 of Law 548/2018.

The aim of the proposed remuneration policy is to support the company's business strategy to create value for shareholders, its employees as well as to ensure the long-term interests of the company and its viability.

In determining the remuneration policy, the salary and working conditions of the company's employees, the interests of the shareholders, the real financial position of the company and its general financial obligations and the company's value system were considered.

The amount of remuneration of the members of the Board of Directors is determined based on criteria such as experience, responsibility, working time, efficiency and effectiveness in the context of the company's business strategy, long-term interests and viability, and employee wage conditions and is decided by the General Meeting upon the recommendation of the Board of Directors.

Τhe full text of the remuneration policy highlighting the proposed amendments was brought to the attention of shareholders and is available on the company's website.

A voting followed and the General Meeting unanimously approved, with 25.701.479 votes corresponding to 93,872% οf the total paid-up share capital and 93,872% of the votes represented at the General Meeting, the company's remuneration policy.

Number of shares for which valid votes were given: 25.701.479

Percentage of shares with voting right: 93,872%

Valid: 25.701.479

Vote upon the valid:

For: 25.701.479 Against: 0 Blanks/Abstention: 0

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Crete Plastics SA published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 12:47:01 UTC.


© Publicnow 2021
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Financials
Sales 2020 305 M 354 M 354 M
Net income 2020 46,3 M 53,8 M 53,8 M
Net cash 2020 76,6 M 89,0 M 89,0 M
P/E ratio 2020 8,90x
Yield 2020 -
Capitalization 496 M 577 M 576 M
EV / Sales 2019 1,10x
EV / Sales 2020 1,10x
Nbr of Employees 1 161
Free-Float 41,8%
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Emmanouil I. Lebidakis Co-Chief Executive Officer & Executive Director
Michail I. Lebidakis Co-Chief Executive Officer & Executive Director
Ioannis M. Lebidakis Chairman
Emmanouel Andreadakis Independent Non-Executive Director
Dimitrios A. Armaos Independent Non-Executive Director
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