The Ordinary General Meeting of the shareholders of Intracom Holdings was held today, during which the Group’s report for 2021 was presented.
The President of the Company, Mr. Socrates Kokkalis, referred extensively to the current situation in both the Greek and the global economy, and analyzed the investment strategy of the Company in this context. Specifically, Mr. Socrates Kokkalis stated: “The world economy is in recession and there is no indication of when it will normalize, nor of the conditions of the next day. INTRACOM has an ‘arsenal’ of available and knowledge. We will focus on areas beyond of what we have been trying so far, first understanding the developments, so that we can position ourselves smartly in those who will have the greatest profit margins and returns “.
Mr. Socrates Kokkalis announced the decision of the Board of Directors of the Company to be convened on 21/7/2022 Extraordinary General Meeting, in order to decide a return to the shareholders of € 0.12 per share through a reduction of the Company’s share capital by € 10,032 .000. Mr. Socrates Kokkalis also pointed out the intention of the Company to follow a stable dividend policy.
Regarding publications concerning INTRAKAT and following the relevant announcement of the Company today, Mr. Socratis Kokkalis stated that the Company is in discussions with investors for a possible transaction, without an agreement to date. Regarding INTRACOM DEFENSE, Mr. Socrates Kokkalis stated that it is the largest defense technology company in Greece and praised its export activity that systematically exceeds 95% of its turnover.
Mr. Dimitris Klonis, Vice President & CEO of Intracom Holdings Group, presenting the results of 2021, stressed: “2021 was determined in each case by the impact of the pandemic both in terms of sales and costs, but also by an important transaction: the sale of INTRASOFT to NETCOMPANY, a strategic decision that paves the way for the further strengthening of INTRACOM ‘s activity, while strengthening its long – term prospects and the value it can offer to its shareholders “.
After presenting in detail the course of the Group and its subsidiaries in 2021, Mr. Dimitris Klonis referred with emphasis to the important assets that the Company has today, most importantly the strong brand name that it has formed through a long history of success and important deals. . “In its 45 years of operation, INTRACOM has recorded a number of business transactions, acquisitions, mergers, acquisitions, sales of companies and mainly strategic partnerships with leading partners in each sector,” said Mr. Klonis.
Referring to the course of the Company and the Group for the next period, Mr. Klonis stated: “In rapidly changing conditions, such as those facing the market today, we have flexibility and a strong cash position, both important advantages. Given the international environment, having full awareness of our responsibility to our shareholders, we thoroughly analyze our next moves, prioritizing the protection of INTRACOM assets. ”
Finally, Mr. Dimitris Klonis, in response to relevant questions, recalled the statement of Mr. Socrates Kokkalis, during the INTRACOM General Meeting on 24/7/2020: “Any correlation between the INTRACOM Group and the INTRALOT Group is unfounded”