Cosmetics manufacturer Madara Cosmetics will pay 0.15 euros per share in dividends from last year’s profit, according to the information provided by the company to the Nasdaq Riga stock exchange about the decisions made at the regular shareholders’ meeting on Tuesday, July 28.
According to the decision of the shareholders’ meeting, a total of 561,786.3 euros will be paid in dividends from the profit earned in 2019, but it has been decided to leave the remaining part of the profit earned last year in the amount of 988,622.7 euros undistributed.
The dividend entry date is set for August 11, 2020, but the dividend payment date is set for August 12.
Also, at the regular shareholders’ meeting, it was decided to issue 10,000 staff options for the total amount of 1,000 euros.
The shareholders have determined that one granted staff option will entitle them to one Madara Cosmetics dematerialized bearer share with a nominal value of 0.1 euros. Madara Cosmetics will issue shares at the expense of retained earnings.
The shareholders of Madara Cosmetics have determined that the board of the company will be entitled to grant the issued personnel options to the employees – heads of structural units and members of the supervisory board, who have made a significant contribution to Madara Cosmetics.
At the same time, it is stipulated that the holders of the issued personnel options will lose the right to exercise the personnel options granted to them if the employment relationship between the company and the personnel option holder is terminated or if the personnel option holder who is a member of Madara Cosmetics is revoked or resigns.
Holders of staff options will acquire staff options from the time they are granted, ie at the time of the relevant decision of the Board, with the right to start exercising the option rights 36 months after their acquisition. At the end of this period, the holder of personnel options will be entitled to acquire a certain number of shares in Madara Cosmetics. With the exercise of personnel options, the newly issued shares will be acquired free of charge.
The shareholders also decided to increase the share capital of Madara Cosmetics by EUR 1,000.
A new board has also been elected at the shareholders’ meeting. Edgars Pētersons and Sari Hannele Rosina have been re-appointed to the company’s council, while Anna Andersone, Anna Ramata-Stunda and Liene Drāzniece will continue to serve on the council. Thus, Zane Tamane will not continue to work in the council.
In 2019, the audited turnover of Madara Cosmetics was 11.004 million euros, which is 21% more than in 2018, but the company’s profit increased by 0.5% and was 1.55 million euros. The Madara Cosmetics group’s turnover last year was 11.546 million euros, which is 21.2% more than a year earlier, while the group’s profit increased by 3.1%, reaching 1.563 million euros.
The company’s largest owners are Uldis Iltners (24.08%), Lote Tisenkopfa Iltnere (23.92%), Finland’s Transmeri Group Ab (23.09%), Zane Tamane (7.61%) and Liene Drāzniece (6, 83%). Madara Cosmetics shares are listed on the Nasdaq Riga alternative market First North.
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