RS2 Software plc – Approval of financial statements for the year ended 31 December 2016

April 18, 2017
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

At the meeting held on Tuesday 18 April 2017, the Board of Directors of RS2 Software p.l.c. approved the financial statements for the financial year ended 31 December 2016. The Board resolved that these financial statements be submitted for the approval of the shareholders at the forthcoming Annual General Meeting which is scheduled for Tuesday 20 June 2017.

 

Shareholders appearing on the shareholders’ register as at the close of business on Friday 19 May 2017 will receive notice of the Annual General Meeting, together with the Annual Report and Financial Statements for the financial year ended 31 December 2016. The preliminary statement of results that is attached herewith was extracted from the financial statements that were audited by KPMG.

 

The Board of Directors resolved to recommend for approval at the Annual General Meeting, the payment of a final dividend of €0.01 per share amounting to €1,583,332. This dividend, if approved at the Annual General Meeting, will be paid on Thursday 22 June 2017 to shareholders who appear on the shareholders’ register as at the close of business on Friday 19 May 2017.

 

In addition to the cash dividend, the Board of Directors further resolved to recommend for approval at the Annual General Meeting, a bonus share issue of one (1) share for every twelve (12) shares held by shareholders on the Company’s share register as at close of business on Friday 19 May 2017. The bonus issue amounting to 13,194,432 shares will be funded by capitalising €791,666 from the Share Premium Reserve of the Company, subject to a relative increase in the company's authorised share capital and necessary regulatory approvals.

 

Pursuant to the Malta Stock Exchange Bye-Laws, the shareholders’ register as at close of business on Friday 19 May 2017 will include trades undertaken up to and including Wednesday 17 May 2017.

 

The Group registered a profit before tax of EUR 880,816, compared to EUR 6.4 million registered in 2015. Revenue for the period under review amounted to EUR17,171,291, a decline of 11.7% from 2015. EPS decreased to EUR 0.004.

Dividend paid for the year ended 2016 tallied to EUR2,495,477.

 

To view the official company announcement, click here.