Breaking news

Vassiliko Cement Works Endorses AGM Resolutions And Announces Dividend Distribution

by THEFUTURE.TEAM

June 7, 2025

AGM Approval And Operational Overview

Vassiliko Cement Works Public Company Ltd has confirmed the approval of all resolutions presented at its annual general meeting (AGM) held on June 5, 2025. The firm, a leader in clinker and cement production, meticulously oversees five dedicated quarries—including Cyprus’s largest limestone quarry, a reef limestone quarry, two clay quarries, and a gypsum quarry—to ensure an uninterrupted supply of high-quality raw materials, underscoring its operational robustness.

Financial Reports And Dividend Declarations

The AGM ratified the management report and comprehensive financial statements for the year 2024, which are accessible on the company’s official website. In a firm demonstration of fiscal integrity, shareholders approved the disbursement of a total dividend of €12.94 million, equivalent to €0.18 per ordinary share. This dividend allocation comprises €0.06 derived from 2023 profits and €0.12 from 2024 retained earnings.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Shareholders registered in the Cyprus Stock Exchange registry on June 18, 2025, will receive the dividend, with the company’s shares trading ex-dividend as of June 17, 2025. Investors completing transactions by the close of trading on June 16, 2025, are eligible for the dividend, including beneficiaries of off-exchange share transfers finalized by the record date. The dividend payment is scheduled for execution by July 15, 2025.

Board Reconstitution And Director Compensation

The meeting also reaffirmed strategic leadership with the re-election of Directors George St. Galatariotis, Mihail Polendakov, and Ioannis Savvides, who had retired by rotation. Shareholders endorsed the remunerations report, setting director fees for 2025 at €30,000 for the chairman and €25,000 for each board member, in addition to a representation allowance of €300 per meeting for board and committee attendance.

Audit Appointment And Future Outlook

Concluding the AGM, PricewaterhouseCoopers Limited was appointed as the company’s auditor for 2025, with the board entrusted with determining the auditors’ remuneration. This series of decisive resolutions highlights Vassiliko Cement Works’ unwavering commitment to corporate governance and financial transparency, positioning the company for sustained strategic growth in an increasingly competitive industry.

The Future Forbes Realty Global Properties

SafeCY Launch: Enhancing Public Safety Through Modern Technology

by News Editor

June 15, 2025

The newly launched SafeCY application is transforming public safety in Cyprus, allowing citizens to find the nearest Civil Defense shelter in real-time. Launched by the Minister of the Interior, Konstantinos Ioannou, SafeCY is available on both the Google Play Store and the Apple App Store. This mobile application is not just a technological innovation; it is a proactive step towards enhancing the safety of Cyprus’ residents during emergencies.

Features of the SafeCY App

The app, accessible on both Android and iOS, supports both Greek and English languages, offering a user-friendly experience. Citizens can utilize GPS to find shelters based on their current location or search by address and postal code. Furthermore, the app integrates vital guidelines and information to ensure comprehensive awareness and preparation.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Strengthening Emergency Response

SafeCY is part of a broader governmental strategy to leverage modern technology in fortifying timely public warnings. Its rollout represents a significant commitment to public protection, aligning with Cyprus’ overarching goals for sustainable growth by 2028, detailed in the economic strategy.