Other information
Provisions of the articles of association concerning result appropriation
The result appropriation is subject to the provision of Article 34, paragraph 2, of Corio’s articles of association, which states that the result shown by the profit and loss account as adopted by the General Meeting of Shareholders is at the disposal of the General Meeting.
In order to comply with the requirements imposed on tax-exempt investment institutions, Corio must, as a minimum, distribute its entire taxable profit in cash. If it appears after notification that the dividend to be paid in shares is such that the amount paid in cash is lower than the taxable profit for 2008, then a pro-rata discount will be applied to the payment in shares so that the distribution requirement in cash is complied with. The pro-rata discount will be paid in cash.
Proposal for result appropriation For 2008, a dividend with stock option of € 2.64 (in cash or in shares) per share is proposed. Of the result for 2008 amounting to -€ 239.6 million, -€ 473.3 million will be incorporated in the statutory reserves. The remainder of the result will be appropriated to the general reserve.
Post-balance-sheet events
On 13 February 2009, Corio acquired an extra 11% interest in Teras Park shopping centre in Denizli, Turkey, so that Corio now has a 51% controlling interest. The acquisition will be finalised following approval of the Competition Board in Turkey.
Source: Annual Report 2008, Chapter Financial Statements, page 184 (PDF, 179 kB)
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