AI assistant
MIDI Plc Earnings Release 2016
2069_rns_2017-04-20_58c119e4-c589-4e6d-8586-8a0dfe359ff2.pdf
Earnings Release
Open in viewerOpens in your device viewer
MIDI PLC
COMPANY ANNOUNCEMENT
The following is a company announcement issued by MIDI" or "the Company") pursuant to the Malta Financial Services Authority Listing Rules.
Quote
Approval of Audited Financial Statements
The Company's Board of Directors have today, the 20 April 2017, approved the consolidated audited financial statements for the year ended 31 December 2016.
MIDI group registered a loss after tax of €2.5 million during the financial year under review compared to a profit of €9.9 million registered during the previous financial year. Unlike the previous financial year, the Company had very few apartments which it could deliver to respective owners. Turnover for the year, including revenues from sales of property, amounted to €8.7million (2015 - €41.0 million). Operating profit for the year amounted to €1.6million (2015 - €13.1 million).
The Board resolved that these audited financial statements be submitted for the approval of the shareholders at the forthcoming Annual General Meeting (the "AGM"). The financial statements are available for viewing at the registered office of the Company and on the Company's website (www.midimalta.com) under the investor relations section.
Dividend Recommendation
At the same meeting, the Board of Directors resolved to recommend for the approval of the AGM the payment of a final net dividend of €1,499,119, equivalent to €0.007 per share.
The final dividend, if approved at the AGM, will be paid to the shareholders on the Company's share register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on Friday 19 May 2017 and payable by not later than 6 July 2017.
Annual General Meeting
The Company's Annual General Meeting (AGM) will be held on Tuesday 20 June 2017. Shareholders on the Company's share register at the Central Securities Depository of the Malta Stock Exchange as at close of business on Friday 19 May 2017 shall be eligible to receive notice of the AGM together with the financial statements for the financial year ended 31 December 2016. Further information relating to the AGM will be announced in due course.
Unquote
Graham Fairclough Company Secretary
20 April 2017
MIDI p.l.c., North Shore, Manoel Island, Malta Company Registration No. C 15836