News
Announcement to Athens Stock Exchange
28.04.2005
IMAKO MEDIA S.A. by a Press Release to Athens Stock Exchange informs the investing public as follows:
The Boards of Directors of IMAKO and its subsidiary company (participation percentage of 97.5 %) NITRO MUSIC S.A. decided to proceed to legal procedures for the dissolution and liquidation of the latter. The Company NITRO MUSIC, since the end of 2002 has limited significantly the scope of its activities in the field of discography, as the investing public has already been informed by IMAKO’s Press Release to Athens Stock Exchange dated November 22nd, 2002, while since the beginning of 2005 NITRO MUSIC has been inactive. The total of equity of NITRO MUSIC at the end of fiscal year is less than 1/10 of its share capital. Pursuant to Law 2190/1920 the General Meeting must decide the dissolution of the Company. The Boards of Directors considered the dissolution and liquidation to be imposed and an Extraordinary General Meeting of its shareholders has been convoked. The consolidated financial statements of 2005 shall not be affected by the resolution regarding NITRO MUSIC’s dissolution and liquidation, since in the context of application of Law 2190/1920 regarding the preparation of consolidated financial statements, its financial state has been included in the consolidated financial statements of previous fiscal years.
N. Irakleio 28.04.2005
The Boards of Directors of IMAKO and its subsidiary company (participation percentage of 97.5 %) NITRO MUSIC S.A. decided to proceed to legal procedures for the dissolution and liquidation of the latter. The Company NITRO MUSIC, since the end of 2002 has limited significantly the scope of its activities in the field of discography, as the investing public has already been informed by IMAKO’s Press Release to Athens Stock Exchange dated November 22nd, 2002, while since the beginning of 2005 NITRO MUSIC has been inactive. The total of equity of NITRO MUSIC at the end of fiscal year is less than 1/10 of its share capital. Pursuant to Law 2190/1920 the General Meeting must decide the dissolution of the Company. The Boards of Directors considered the dissolution and liquidation to be imposed and an Extraordinary General Meeting of its shareholders has been convoked. The consolidated financial statements of 2005 shall not be affected by the resolution regarding NITRO MUSIC’s dissolution and liquidation, since in the context of application of Law 2190/1920 regarding the preparation of consolidated financial statements, its financial state has been included in the consolidated financial statements of previous fiscal years.
N. Irakleio 28.04.2005
