Trend of Key Indicators - Efacec

General Shareholder’s Meeting
The Chairman of the Board of the General Shareholders’ Meeting shall have the necessary human and logistical
resources at his/her disposal. This effectively consist of the support of the legal and administrative services to
prepare each General Shareholders’ Meeting, including all the associated logistics
The General Shareholders’ Meeting is made up of Shareholders, who, fi ve days prior to the designated date of the
meeting, can prove that they are owners of at least one hundred shares, registered, and deposited in their name, in
accordance with Portuguese legislation. Pursuant to article 20(5) of the articles of association, the period in advance
for the blocking of shares is fi ve business days when the meeting is suspended.
Each share corresponds to one vote.
The General Shareholders’ Meeting decisions are taken by a majority vote of those Shareholders present or
represented, except in cases when the law or the articles of association demand a greater number of votes.
As a result of the takeover bid concluded in 2006, the Company was informed of a shareholder’s agreement between
the shareholders participating in that bid, who were already the Company’s majority shareholders. In that agreement
they committed to coordinate the exercise of their voting rights in the Company with regard to certain key issues.
Composition of the General Shareholders' Meeting
The General Shareholders' Meeting is made up of a Chairman and a Secretary:
Miguel Côrte-Real - Chairman
Pedro da Costa Mendes - Secretary
There was one ordinary General Meeting in 2009, at which the entirety of the share capital of the Company was
represented.
The remuneration of the Chairman of the Board of the General Shareholders’ Meeting during 2009 amounted to
EUR 2,500.
The Company’s Dividend Distribution Policy
The Board of Directors of EFACEC Capital, S.G.P.S., S.A. has always viewed the dividend distribution as a continuous
and progressive incentive to investment in the group and its competencies.
Thus, dividend distribution proposals were submitted for approval to previous Annual General Shareholders’ Meetings
in the light of the following criteria:
i) Future internal capacity to generate cash fl ow;
ii) the investment outlook and fi nancing needs;
iii) the stability and growth of the payout ratio.
In accordance with the Company Articles of Association, the net profi ts for the year will be distributed in the following
way:
i) at least 5% to the legal reserve while it has not been completed or whenever it needs to be reincorporated;
and
ii) the remainder in whatever way is decided by a simple majority vote of the shareholders at the Annual
General Meeting.
The total dividends distributed by the Company for the 2008 fi nancial year amounted to EUR 17,750,000, with EUR
6,034,000 paid out in the second-half of 2008 as interim dividends.
EUR 7,284,000 was paid out in the second-half of 2009 as interim dividends for the 2009 fi nancial year.
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2009 Management Report and
Consolidated and Individual
Financial Statements