On April 27, 2006 the company P.G. NIKAS S.A. performed its Ordinary General Shareholders' Meeting. Among other matters, the General Meeting approved the financial statements, the distribution of the dividend for the year 2005, the investing plans of the company and the sale of affiliated companies.
More specifically the Ordinary General Shareholder's Meeting of P.G. NIKAS S.A. approved Company and Consolidated Financial Statements under IFRS for the financial year 2005. It is noticed that in 2005 the consolidated sales stood at euro 105.6 mil. over euro 100.7 mil. in 2004 marking an increase of 4.9%. Moreover, earnings after tax amounted to euro 8.0 mil. remaining at the same levels with the previous financial year.
The Board of Directors suggested and the General Meeting approved the distribution of dividend euro 0.26 per share. Note that the dividend in 2005 is increased by 8.33%.
Additionally, the General Meeting approved the investing plans of the Company of euro 5 mil. and their dependence to the development law 3299/2004. The own participation of the Company will amount to about euro 1.3 mil.
Finally, within the framework of the company's strategy for disengaging from non-profitable and secondary activities, the General Meeting approved the sale of shareholding in affiliated companies. More specifically, it was approved the transfer of 40.89% of the shares of HELLINIKOS GYROS S.A. and the sale of 75% of the share capital of PLATEON S.A.