0022/ /en Annual Financial Report LORDOS HOTELS (HOLDINGS) PUBLIC LTD LHH

Transcription

1 0022/ /en Annual Financial Report LORDOS HOTELS (HOLDINGS) PUBLIC LTD Approval of Audited Financial Statements for Proposal for Dividend - AGM on 22/06/2016 Members' Rights and Relevant Documents Please see attached. LHH Attachments: 1. LORDOS HOTELS - ANNOUNCEMENT 2. LORDOS HOTELS - ANNUAL RESULTS 2015 Regulated Publication Date: 28/04/2016

2 ANNOUNCEMENT It is announced that on 26/04/2016 the Board of Directors of the Company approved the Audited Consolidated Financial Statements of the Company, the Audited Annual Accounts of the parent company and the Corporate Governance Report for 2015 (the Annual Report ), which will be discussed at the Annual General Meeting, which will take place on Wednesday, 22/06/2016 at at The Golden Bay Hotel in Larnaca. The audited results show no material deviation from the Indicative Results 2015 announced on 24/02/2016 and the results referred to in the consolidated financial statements. The Board of Directors decided to propose for approval at the Annual General Meeting the payment of a dividend of 0.01 per share (2.94% in the nominal value of the share) which corresponds to 48.68% on the profits for the year. The record date will be Wednesday 06/07/2016. The record of this date will include the transactions carried out by the end of the trading day of Monday, 04/07/2016. Therefore, the cum dividend date will be 04/07/2016 and the ex-dividend date will be Wednesday, 05/07/2016. The investors who will accept shares based on off-floor transactions completed by the record date (entered in the Dematerialised Securities System) will also be beneficiaries. The dividend is proposed to be paid on 21/07/2016. The exact posting date will be announced. The AGM notice will be announced and posted in due time to shareholders. It is reminded that the Company s members have the right, pursuant to Article 127B(1) of the Companies Law, Cap. 113 and provision D.2.1.e of the Corporate Governance Code, to add items on the agenda of the Annual General Meeting to take place on 22/06/2016 and submit draft decisions. A relevant application by a member or members holding at least 5% of the issued shares (voting rights) must be received in printed or electronic form by 11/05/2016 (at least 42 days prior to the date of the Annual General Meeting). The total issued shares of the Company are The mailing addresses are: P.O. Box 51094, 3501 Limassol, Fax: , lhh@adamides.com. Copies of the full text of the Annual Report, as approved and signed, are available at the Company s registered office (35, Theclas Lysioti Str., Eagle Star House, 1st floor, 3030 Limassol, tel: , fax: , lhh@adamides.com) and the Company s Administration Office (10, Kantaras Str., P.O. Box 42881/8, 7081 Pyla, Larnaca, Cyprus, tel , fax: , reception@lordos.com.cy). The Annual Report will be available in printed form during the Annual General Meeting. Adaminco Secretarial Limited Secretary of Lordos Hotels (Holdings) Public Limited

3 CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER TOTAL INCOME for the year ended 31 December Turnover Cost of goods sold ( ) ( ) Gross profit Other income Loss from investments (10.771) (5) Selling expenses ( ) ( ) Administrative expenses ( ) ( ) Other operating expenses ( ) ( ) Finance cost ( ) ( ) Share in the results of associated companies (11.233) Results before taxation Taxation ( ) ( ) Net profit for the year Other total income Amounts not to be reclassified in the profit or loss in future periods: Adjustment in fair value of land and buildings (Debit)/credit of deferred taxation in revaluation of land and buildings (10.801) (10.801) Other total income / (expenses) for the year (10.801) Total income for the year Net profit for the year attributable to: Shareholders of parent company Minority interest Net profit for the year Total income attributable to: Shareholders of parent company Minority interest Total income Net profit per share attributable to shareholders of parent company (cent) Total income per share attributable to shareholders of parent company (cent)

4 CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2015 ASSETS Non-current assets Property, plant and equipment Intangible assets Investment in associated company Financial assets at fair value through profit and loss Loans receivable Current assets Stock Trade and other receivables Receivables from affiliates Cash at bank and in hand TOTAL ASSETS EQUITY AND LIABILITIES Equity and reserves Share capital Other reserves Accumulated profit Minority interest Total equity Non-current liabilities Borrowing Deferred tax liabilities Current liabilities Trade and other creditors Amounts payable to affiliates Bank overdrafts Borrowing Current tax liabilities Total liabilities TOTAL NET POSITION AND LIABILITIES

5 CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2015 CASH FLOW FROM OPERATING ACTIVITIES Results before taxation Adjustment for: Depreciation of property, plant and equipment Amortization of intangible assets Share in (profit)/loss from affiliated company (6.670) Loss of fair value in financial assets at fair value through profit and loss Write-off of stock (Reversal of provision for bad debts)/provision for bad debts (2.000) Debit interest Amortization of loans receivable (10.029) (51.900) Cash flow from operations prior to changes in working capital Increase in stock (20.638) (4.904) Decrease / (increase) in trade and other receivables ( ) Decrease in trade and other creditors (50.043) ( ) Cash flow from operations Tax paid ( ) ( ) Net cash flow from operations CASH FLOW FROM INVESTING ACTIVITIES Payment for purchase of intangible assets (7.650) (4.955) Payment for purchase of property, plant and equipment ( ) ( ) Collection of dividends from associated company Collection of repayments of loans receivable Net cash flow for investing activities ( ) ( ) CASH FLOW FROM FINANCING ACTIVITIES Repayment of loans ( ) ( ) Collections from new loans Payment of interest ( ) ( ) Payment of dividends ( ) - Payment of defense contribution on dividends payable by shareholders (26.166) - Payment of dividends to minority interest (56.000) (44.000) Net cash flow for financing activities ( ) ( ) Net increase / (decrease) in cash and cash equivalents ( ) Cash and cash equivalents at beginning of year ( ) ( ) Cash and cash equivalents at the end of year ( ) ( )

6 CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION for the year ended 31 December 2015 Equity attributable to the shareholders of the Company Share capital Other reserves Accumulated profits Total Minority interest Total Balance at 1 January Net profit for the year Other total income for the year Dividends (44.000) (44.000) Balance at 31 December 2014 / January 2015 Net profit for the year Other total income for the year - (10.060) - (10.060) (741) (10.801) Dividends - - ( ) ( ) (56.000) ( ) Defense contribution on dividends payable by the - (26.166) (26.166) - (26.166) shareholders Balance at 31 December