If you can see this message, your browser does not support canvas and needs an update. Sorry. :(
Wednesday, August 22, 2018 
Market Status: CLOSE
About us and Governance Investor Relations Contact
Advanced search

Market News


AEROSTAR S.A. - ARS

OGSM resolutions 14 December 2017

Release Date: 12/15/2017 9:14:23 AM

IRIS Code: D478F

Current Report

according to Regulation no. 1/2006

Date of the report: 15.12.2017

Name of issuer: S.C. AEROSTAR S.A.

Registered headquarters: BACAU, No. 9 Condorilor Street

Telephone: +40 234.575.070; Fax: +40 234.572.023/572.259

Sole Registration No: 950531

Trade Register Number: J04/1137/1991

Web/e-mail: www.aerostar.ro, aerostar@aerostar.ro

Share capital, subscribed and paid: 48.728.784 LEI

Regular market on which the issued shares are traded: Bucharest Stock Exchange (symbol ”ARS”)

RESOLUTIONS OF THE ORDINARY GENERAL MEETING OF

SHAREHOLDERS OF AEROSTAR S.A.

ON THE DATE OF 14.12.2017

The Ordinary General Meeting of Shareholders of AEROSTAR SA (the “Company”), with headoffice in Bacau, 9 Condorilor Street, registered with the Trade Register Office of the Bacau Court under the number J04 / 1137/1991 and having sole registration number 950531, convened and conducted in accordance with statutory provisions on the date of 14 December 2017, where 87,4560% of the share capital was present or represented, that is 133.175.816 shares of the total of 152.277.450 shares,

Based on the Companies’ Act no 31/1990, republished, of the Law no 297/2004 with reference to the capital market, with its subsequent modifications and completions, of the Law no 24/2017 regarding the issuers of financial instruments and market operations, of the Regulation no 1/2006 of the National Securities Exchange Commission regarding the issuers and the operations with securities, of the Regulation no 6/2009 of the National Securities Exchange Commission regarding the exercise of certain rights of the shareholders in the general meetings of the shareholders in companies, and of the Constitutive Deed of AEROSTAR S.A.

DECIDES:

RESOLUTION no 5

Sole Article. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions",

the approval of the Budget of Revenues and Expenses for the year 2018, as follows:

  1. The budget of the General Activity for the year 2018 (Annex 1),

with the following main elements:

a)

Turnover:

340.000 thousand lei

b)

Total revenues:

350.500 thousand lei

c)

Total expenses:

314.013 thousand lei

d)

Gross result:

36.487 thousand lei

e)

Net result:

29.919 thousand lei

  1. Budget of the Treasury Activity for the year 2018 (Annex 2);
  2. Main Economic- Financial Indicators for the year 2018 (Annex 3)

AEROSTAR S.A.

Annex no.1

THE BUDGET OF THE GENERAL ACTIVITY

(the amounts are expressed in thousands lei)

PLANNED

YEAR 2018

PLANNED
YEAR 2017
Turnover

Revenues from the variation of stocks of finished products and production in progress

Revenues from the activity performed by the entity and capitalized

Other revenues from operations

340.000

4.500

500

1.000

320.000
8.000
500

1.500
Total Revenues from Operations

346.000

330.000

Expenses

Expenses with materials

Expenses with manpower, of which:

Expenses with employees benefits

Meal tickets

Other expenses with manpower

Expenses related to external suppliers

Expenses with amortization of immobilizations

Other expenses with operations

Expenses with depreciation of assets

Expenses related to provisions

(134.100)

(110.065)

(95.056)

(6.484)

(8.525)

(35.448)

(28.800)

(1.100)

-

-

(134.400)

(103.124)

(90.562)

(3.881)

(8.681)

(35.200)

(21.192)

(2.200)

(500)

(1.000)

Total Expenses with Operations

(309.513)

(297.616)

Profit from Operations

36.487

32.384

Financial Revenues

Financial Expenses

4.500

(4.500)

5.500

(5.500)

Financial Profit

-

-

Total Revenues

Total Expenses

350.500

(314.013)

335.500

(303.116)

Profit before tax

36.487

32.384

Tax on current profit and deferred

(6.568)

(5.181)

Net Profit of the financial year

29.919

27.203

Capital Expenses, of which:

39.966

55.103

- for environment protection

- for digital transformation

993

1.771

701

Sources for financing the capital expenses, of which:

39.966

19.659

Company sources

Other sources

39966

-

19.659

-

PRESIDENT OF THE BoD

VICEPRESIDENT OF THE BoD

GENERAL DIRECTOR

FINANCIAL DIRECTOR

GRIGORE FILIP

DORU DAMASCHIN


AEROSTAR S.A.

Annex no. 2

THE BUDGET OF THE TREASURY ACTIVITY

for the year 2018

(the amounts are expressed in thousands lei)

YEAR 2018

TREASURY CASH FLOWS FROM OPERATIONS

Received from Customers

352.920

Tax reimbursed from the State Budget

4.162

Payments to suppliers and employees

(253.323)

Payment of taxes, contributions and due to State Budget

(44.472)

Payment of tax on profit

(6.568)

NET CASH FROM OPERATIONS

52.719

TREASURY CASH FLOWS FROM INVESTMENTS

Interest received

505

Dividends received

180

Installments received from loans granted

4

Payments for acquisition of immobilizations

(39.966)

NET CASH FROM INVESTMENTS

(39.277)

TREASURY CASH FLOWS FROM FINANCING OPERATIONS

Payment of dividends

(14.570)

NET CASH FROM FINANCING OPERATIONS

(14.570)

Net Increase of cash and cash equivalents

(1.128)

Cash and cash equivalent at the year start

152.000

Cash and cash equivalent at year end

150.872

PRESIDENT OF THE BoD

VICEPRESIDENT OF THE BoD

GENERAL DIRECTOR

FINANCIAL DIRECTOR

GRIGORE FILIP

DORU DAMASCHIN


AEROSTAR S.A.

Annex no. 3

MAIN ECONOMIC & FINANCIAL INDICATORS

for the year 2018

PLANNED

YEAR 2018

PLANNED

YEAR 2017

I. Liquidity Indicators

1. General liquidity

> 3,00

> 3,00

2. Immediate liquidity

> 2,50

> 2,50

3. General solvecy rate

> 5,00

> 5,00

II. Risk Indicators

1. Indebtness rate indicator

0

0

III. Activity Indicators

1. Rotation of total assets

> 0,80

> 0,80

rotations

2. Rotation of immobilized assets

3. Rotation of circulating assets, of which:

- Rotation of stocks

- Rotation of total receivables

- Rotation rate of client debits

4. Rotation of total liabilities, of which:

- Rotation rate of supplier credits

> 2,00

> 1,20

> 4,00

> 5,00

< 60

< 6,00

> 30

> 2,00

> 1,20

> 4,50

> 5,00

< 60

< 6,00

> 30

rotations

rotations

rotations

rotations

days

rotations

days

IV. Profitability Indicators

1. Financial efficiency rate

> 0,11

> 0,11

2. Efficiency rate for consumed resources

3. Rate of profit from operations

4. Net profit rate

0,10

10,73%

8,80%

0,09

10,12%

8,50%

V. Indicators of circulating fund

1. Company own circulating fund

97.800

91.000

K lei

2. Circulating fund required

85000

85.000

K lei

3. Net treasury

12.800

6.000

K lei

PRESIDENT OF THE BoD

VICEPRESIDENT OF THE BoD

GENERAL DIRECTOR

FINANCIAL DIRECTOR

GRIGORE FILIP

DORU DAMASCHIN


RESOLUTION no 6

Art.1. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", the approval to set the net allowance of the Directors (administrators) at the level of 4.500 lei for the financial year 2018.

Art.2. a) Approve as maximum level for the additional remunerations of the members of the Board of Directors who also have executive attributions, of a fixed, monthly amount of maximum 10 (ten) times (inclusively) the remuneration set as per art.1, applied on an individual basis, as applicable to each case.

b) Empower the Board of Directors to negotiate them within the level approved.

Art.3. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", to designate a person, as representative of the general meeting of shareholders and, such person will represent the company, to edit and sign, with each of the members of the Board of Directors, the additional agreement to the specific contract, as applicable to each.

Art.4. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", to empower and give the mandate to Mrs. RUSU ELENA, to edit and sign, with each of the members of the Board of Directors, the additional agreement to the specific contract, as applicable to each.

RESOLUTION no 7

Sole Article. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", to register in accordance with the legal provisions, as “other revenues” the dividends for the year 2013 not collected and prescribed, which are outstanding balance as on the end of the date of 23.10.2017.

RESOLUTION no 8

Sole Article. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", the approval of the date of 29 December 2017 as the Record Date, in accordance with art. 86 para 1) of the Law no 24/2017 regarding the issuers of financial instruments and market operations.

With reference to the proposed record date, the ex date will be 28 December 2017.

RESOLUTION no 9

Sole Article. With 133.175.816 votes "for" and 0 votes "against" and 0 votes "abstentions", to empower the President- General Director of the Company, Mr. eng. Grigore Filip, with the possibility of substitution, in order to:

a) conclude and/or sign on behalf of the Company and/or on behalf of the Company shareholders: the decisions of the present Ordinary General Meeting of Shareholders, any and all of the resolutions, documents, applications, forms and requirements adopted/ prepared in the purpose to or for the execution of the resolutions of the present Ordinary General Meeting of Shareholders, in relation to any natural or legal person, private or public; and

b) to perform all the legal formalities for registration, opposability, execution and

publication of the resolutions adopted.

President of the Board of Directors- General Director

Grigore FILIP


AEROSTAR S.A. BACAU

TOTAL NUMBER OF SHARES AND VOTING RIGHTS

ON THE DATE OF CONVENING

THE ORDINARY GENERAL MEETING OF SHAREHOLDERS

ON 14.12.2017

The share capital of Aerostar S.A. Bacau in total amount of 48.728.784 lei is divided into

152.277.450 shares with nominal value of 0,32 lei / share.

All the shares of Aerostar S.A. Bacau are comprised in a single class of shares and they are

nominative, ordinary, dematerialized, indivisible, of equal value and equal rights.

GMS Permanent Secretary,

Elena RUSU



 Print

Information provided by IRIS, the news platform of the Bucharest Stock Exchange.

______________________

Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item. Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


©2016 Bucharest Stock Exchange. All rights reserved