The distribution of 10% of the net profits as a dividend and the election of a new board of directors was decided by the regular general meeting of the shareholders of Kordellos Brothers held yesterday.
In particular, as announced by the listed company, the Board of Directors recommended the non-distribution of a dividend due to the unpredictable conditions created by the war between Russia and Ukraine, among others, in terms of the supply of raw materials, and in terms of rising price trends.
Since the required majority of 80% of the present capital was not achieved, the President proposed to the body in accordance with the recommendation of the Board of Directors to distribute 10% of the net profits in accordance with the provisions of the Law and to authorize the Board of Directors to receive any relevant and necessary decision as well as to take any necessary action for the implementation of this decision.
The General Assembly decided by the required increased majority of the votes represented therein, (2/3 of the represented company capital), i.e. 71.64% of the present and represented shareholders, i.e. with the required increased quorum (½ of the paid-up company capital) and majority, the distribution of 10% of the profits in accordance with the recommendation of the Board of Directors and to authorize the Board of Directors to take any relevant and necessary decision as well as to take any necessary action for the implementation of this decision.
In addition, the General Assembly approved the election of all seven (7) members of the existing Board of Directors, namely:
1. Angeliki Kordellou of Constantine
2. Margaritas Kordellou of Antonio
3. Georgiou Tsiakkas of Dimitrios
4. Stavros Antonopoulos of Athanasios
5. Konstantinos Varsamis of Michael
6. Andreas Koutoupis of Georgiou
7. Phoebus Vretta of Ioannis
The term of office of the Board of Directors is three years, starting from its election, extending until the end of the period within which the next Ordinary General Meeting must be convened in the year 2025, and until the relevant decision is taken, in accordance with article 10 par 1 of the Company’s Articles of Association and article 85 par. 1 sec. c’ of Law 4548/2018.
Source: Capital
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