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COMPANY ANNOUNCEMENT: 64th Annual General Meeting held 24/06/2011

The following is a Company Announcement by Simonds Farsons Cisk plc pursuant to the Malta Financial Services Authority Listing Rule 5.16.

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64th Annual General Meeting held 

Simonds Farsons Cisk plc announces that it has yesterday 23rd June 2011 held its 64th Annual General Meeting at the Hilton Malta, Portomaso.

The shareholders convened for this event, discussed and approved the following ordinary resolutions:

  1. that the Accounts for the year ended 31st January 2011 and the reports of the Directors and Auditors be hereby received and approved.
  2. that a final net dividend of €1,600,000 paid out of tax exempt profits equivalent to a net dividend of €0.0533 per ordinary share as recommended by the Directors, be hereby approved.
  3. that the appointment of PricewaterhouseCoopers as Auditors of the Company be reconfirmed and be hereby approved and that the Board of Directors be hereby authorized to fix their remuneration.
  4. that the aggregate amount of emoluments payable annually to all Directors, executive and non-executive, be increased and fixed at a maximum of five hundred thousand euros (€500,000) and that the said increase shall be with effect and be applicable from the financial year ending 31st January, 2012.

Mr Michael Farrugia, residing at Casa Navarra, St John Street, Wardija, St Paul’s Bay, Malta was appointed non-executive director of the Company with effect from the end of the 64th Annual General Meeting. Mr Farrugia is an M.A. graduate in History and Italian from the University of Edinburgh and a holder of a Diploma in Journalism from the London School of Journalism. He spent a year working at the European Parliament and with the European Voice, an Economist Group Business overseas prior to his employment with Simonds Farsons Cisk plc since April 2006. Mr Farrugia is currently Head of Business Support of the Farsons Group and presently serves on the Board of Farsons Beverage Imports Company Limited. No matter concerning Mr Farrugia requires disclosure under Listing Rules 5.20.5 to 5.20.9. 

Only two nominations were received within the stipulated time for election to the Board of Directors and consequently there was no need for an election to be held. Mr Roderick Chalmers and Dr Max Ganado LL.D., LL.M. were automatically elected as Directors of the Company with effect from the conclusion of this 64th Annual General Meeting.

The other Directors were confirmed in their posts. 

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Arthur Muscat
Company Secretary

24th June, 2011