Quilmes Industrial (Quinsa) S.A. Announces Outcome of its Ordinary General Meeting
July 05 2006 - 10:00AM
PR Newswire (US)
LUXEMBOURG, July 5 /PRNewswire-FirstCall/ -- Quilmes Industrial
(Quinsa) S.A. (NYSE:LQU) ("Quinsa" or the "Company") announced
today the outcome of its Ordinary General Meeting for the financial
year ended December 31, 2005 that took place in Luxembourg on June
22, 2006. Under the Chairmanship of Mr. Jacques-Louis de
Montalembert, the Ordinary General Meeting heard the report of the
Board of Directors and the report of the statutory and independent
auditors for the financial year 2005. The General Meeting also
approved the distribution of retained earnings for the year ended
December 31, 2005. The Parent Company having reported a loss for
the period May 1st, 2005 to December 31, 2005 of US$ 9,442,926, the
General Meeting voted to pay total net dividends of US$ 39,248,096
to the shareholders, from net retained earnings of US$ 164,048,022.
Tuesday, August 8, 2006 will be the date for payment of the
dividend of US$ 0.035060 net per share to all holders of Class A
shares and of the dividend of US$ 0.350600 net per share to all
holders of Class B shares tendering coupon N� 14 or registered as
of July 28, 2006 (record date). The net dividend per ADR shall be
US$ $0.7012. The Annual General Meeting reelected Messrs. Floreal
Horacio Crespo, Alexander James Christopher Harper, Alvaro Cardoso
de Sousa and Gustavo Alfredo Horacio Ferrari as directors of the
company. The General Meeting confirmed the decisions of the Board
Meeting to appoint Mr. Victorio De Marchi as Co-chairman and Mr.
Milton Seligman as Director of the Company. The meeting also
accepted the resignation of Mr. Carlo Hoffmann as Secretary General
of QUINSA. The Ordinary General Meeting was followed by an
Extraordinary General Meeting which restated the previously
existing provisions relating to the authorized capital and inter
alia to waive preferential subscription rights of shareholders to
subscribe for further issues of Class A shares and class B shares
within the limits of the authorized share capital for a new 5 year
period. Copies of the Annual Report of QUINSA are available at the
registered office, 84 Grand-Rue, L-1660 Luxembourg ABOUT QUINSA
Quinsa is a Luxembourg-based holding company that controls
approximately 93% of Quilmes International (Bermuda) ("QIB"). The
remaining stake is held by Companhia de Bebidas das Americas -
AmBev ("AmBev"). Quinsa, through QIB, controls beverage and malting
businesses in five Latin American countries. Its beer brands are
strong market leaders in Argentina, Bolivia, Paraguay and Uruguay
and have a presence in Chile. Further, pursuant to the Company's
strategic alliance with AmBev, it has entered into license and
distribution agreements to produce and sell in Argentina, Bolivia,
Chile, Paraguay and Uruguay the AmBev brands. Similarly, under the
agreements AmBev may produce and distribute Quinsa's brands in
Brazil. The Company also has bottling and franchise agreements with
PepsiCo, and thus accounts for 100% of PepsiCo beverage sales in
both Argentina and Uruguay. Quinsa's Class A and Class B shares are
listed on the Luxembourg Stock Exchange (Reuters codes: QUIN.LU and
QUINp.LU). Quinsa's American Depositary Shares, representing the
Company's B shares, are listed on the New York Stock Exchange.
Quinsa's web address: http://www.quinsa.com/ DATASOURCE: Quinsa
CONTACT: Francis Cressall of Quilmes Industrial (Quinsa) S.A.,
+5411-4349-1846 Web site: http://www.quinsa.com/
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