AEROSTAR S.A. Current Report
according to ASF Regulation no. 5/2018
Date of the report: 16.12.2022
Name of issuer: AEROSTAR S.A.
Registered headquarters: BACAU, No. 9 Condorilor Street
Telephone: +40 234.575.070; Fax: +40 234.572.023/572.259
Sole Registration No: 950531
Trade Register Number: J04/1137/1991
LEI : 315700G9KRN3B7XDBB73
Web/e-mail: www.aerostar.ro, aerostar@aerostar.ro
Share capital, subscribed and paid: 48.728.784 LEI
Regular market on which the issued shares are traded: Bucharest Stock Exchange (symbol "ARS")
RESOLUTIONS
OF THE ORDINARY GENERAL MEETING OF THE SHAREHOLDERS OF AEROSTAR S.A.
HELD ON DECEMBER 15th 2022
The Ordinary General Meeting of Shareholders of AEROSTAR S.A. (the "Company"), with the head office in Bacău, 9th Condorilor Street, registered with the National Trade Register Office under number J04/1137/1991 and having sole registration number 950531, convened and conducted in accordance with statutory provisions on the date of December 15th, 2022, where 87,9298% of the share capital was present or represented, that is 133.897.270 shares of the total of 152.277.450 shares,
Based on the Law on Companies no 31/1990, republished, the Law no. 24/2017 regarding the issuers of financial instruments and market operations, the A.S.F. (Financial Supervisory Authority) Regulation no. 5/2018 regarding the issuers of financial instruments and market operations, and of the Constitutive Deed of the Company,
DECIDES:
RESOLUTION no. 12
Sole article. Approves with unanimity of the votes cast, in accordance with the provisions of art. 129, paragraph (2) and paragraph (5) of the Law no. 31/1990 on companies, the election of the OGMS meeting's secretariate, composed from:
- Mr. Cristian Adrian MUNTIANU - Secretary designated from among the company's shareholders
- Mr. Razvan-Alexandru BEJENARU - Technical secretary.
RESOLUTION no. 13
Sole Article. Approves with unanimity of the votes cast, the Income and Expenses Budget for the year 2023, as follows:
A. The Budget of the General Activity for the year 2023 (Annex 1) with the following main
elements: | ||
a) | turnover: | 440.000 thousand lei; |
b) | total revenues: | 458.142 thousand lei; |
c) | total expenses: | 405.685 thousand lei; |
d) | gross result: | 52.427 thousand lei; |
e) | net result: | 44.064 thousand lei. |
- The Budget of the Treasury Activity for the year 2023 (Annex 2);
- The main Economic- Financial Indicators for the year 2023 (Annex 3).
Page 1 of 6
AEROSTAR SA BACAU | ANNEX 1 to |
Resolution no. 13 | |
THE BUDGET OF THE GENERAL ACTIVITY | |
for the year 2023 | |
(the amounts are expressed in thousand lei) |
Turnover
Income from the variation of inventories of finished products and production in progress
Income from the activity performed by the entity and capitalized
Other operating income
PLANNED | PLANNED | |
2023 | 2022 | |
440.000 | 370.000 | |
6.250 | 9.500 | |
500 | 500 | |
2.392 | 3.500 |
Total Operating Income | 449.142 | 383.500 | ||||||
Expenses | ||||||||
Expenses with materials | (185.324) | (144.050) | ||||||
Expenses with manpower, of which: | (163.535) | (141.913) | ||||||
Expenses with employees' benefits | (146.578) | (124.882) | ||||||
Meal tickets | (12.443) | (7.425) | ||||||
Holiday vouchers | (837) | (660) | ||||||
Other expenses with manpower, of which: | (3.677) | (8.946) | ||||||
Expenses related to external suppliers | (30.871) | (30.244) | ||||||
Expenses with amortization of property, plant &eqpt | (28.080) | (25.800) | ||||||
Other operating expenses | (1.600) | (1.210) | ||||||
Expenses with depreciation of assets | 2.245 | - | ||||||
Result from provisions | 4.980 | 4.548 | ||||||
Total Operating Expenses | (402.185) | (338.669) | ||||||
Operating Profit | 46.957 | 44.831 | ||||||
Financial Revenue | 9.000 | 10.000 | ||||||
Financial Expenses | (3.500) | (6.500) | ||||||
Financial Profit | 5.500 | 3.500 | ||||||
Total Revenue | ||||||||
458.142 | 393.500 | |||||||
Total Expenses | (405.685) | (345.169) | ||||||
Profit before tax | 52.457 | 48.331 | ||||||
Tax on profit | (8.393) | (7.733) | ||||||
Net Profit of the financial year | 44.064 | 40.598 | ||||||
Capital Expenses, of which: | 51.677 | 38.100 | ||||||
for environmental protection | 1.650 | 2.064 | ||||||
Sources for financing the capital expenses, of which: | 51.677 | 38.100 | ||||||
Own sources | 51.677 | 38.100 | ||||||
PRESIDENT, | VICE-PRESIDENT, | |||||||
GENERAL DIRECTOR, | FINANCIAL DIRECTOR, | |||||||
GRIGORE FILIP | DORU DAMASCHIN |
Page 2 of 6
AEROSTAR SA BACAU | ANNEX 2 to | |
Resolution no. 13 | ||
THE BUDGET OF THE TREASURY ACTIVITY | ||
for the year 2023 | ||
PLANNED | PLANNED | |
YEAR 2023 | YEAR 2022 | |
TREASURY CASH FLOWS FROM OPERATIONS | ||
Collected from Customers | 465.080 | 398.120 |
Payments to suppliers and employees | (326.717) | |
(283.948) | ||
Payments of tax, contributions and dues to the State Budget | (79.693) | |
(71.589) | ||
Payments of tax on profit | (8.393) | |
(10.310) | ||
NET CASH FROM OPERATIONS | 50.277 | 32.273 |
TREASURY CASH FLOWS FROM INVESTMENTS | ||
interest collected | 3.000 | 2.500 |
payments for acquisition of property, plant and equipment | ||
(38.100) | ||
payments for the purchase of real estate | 2.500 | |
NET CASH FROM INVESTMENTS | (51.677) | (35.600) |
TREASURY CASH FLOWS FROM FINANCING OPERATIONS | (25.800) | (19.200) |
payment of dividends | ||
NET CASH FROM FINANCING OPERATIONS | (19.200) | |
(25.800) | ||
Net Increase/ decrease of cash and cash equivalents | (21.700) | (22.527) |
Cash and cash equivalent at the beginning of the financial year | 250.000 | 250.000 |
Cash and cash equivalent at the end of the financial year | 228.300 | 227.473 |
PRESIDENT, | VICE-PRESIDENT, | |
GENERAL DIRECTOR, | FINANCIAL DIRECTOR, | |
GRIGORE FILIP | DORU DAMASCHIN |
Page 3 of 6
AEROSTAR SA BACAU | ANNEX 3 to | ||||
Resolution no. 13 | |||||
MAIN ECONOMIC & FINANCIAL INDICATORS | |||||
for the year 2023 | |||||
PLANNED | PLANNED | ||||
YEAR 2023 | YEAR 2022 | ||||
I. Liquidity Indicators | |||||
1. | General liquidity | > 5,00 | > 5,00 | ||
2. | Immediate liquidity | > 5,00 | > 5,00 | ||
3. | General solvency rate | > 10,00 | > 10,00 | ||
II. Risk Indicators | |||||
1. | Indebtness rate indicator | 0 | 0 | ||
III. Activity Indicators | |||||
1. | Rotation of total assets | > 0,70 | > 0,70 | rotations | |
2. | Rotation of immobilized assets | > 2,00 | > 2,00 | rotations | |
3. | Rotation of circulating assets, of which: | > 1,00 | > 1,00 | rotations | |
- Rotation of inventories | > 3,00 | > 2,50 | rotations | ||
- Rotation of total receivables | > 5,00 | > 5,00 | rotations | ||
- Rotation rate of client debits | < 60 | < 60 | days | ||
4. | Rotation of total liabilities, of which: | < 8,00 | < 7,00 | rotations | |
- Rotation rate of supplier credits | > 25 | > 25 | days | ||
IV. Profitability Indicators | |||||
1. | Return on equity rate | > 0,09 | > 0,09 | ||
2. | Profitability rate for consumed resources | 0,11 | 0,12 | ||
3. | Profitability rate from operations | 10,67% | 12,12% | ||
4. | Net profit rate | 10,01% | 10,97% | ||
5. EBITDA | 15,41% | 17,86% | |||
V. Working Capital Indicators | |||||
1. | Company's own working capital | 253.100 | 263.700 | thousand lei | |
2. | Working capital requirement | 180.000 | 166.500 | thousand lei | |
3. | Net treasury | 73.100 | 97.200 | thousand lei |
PRESIDENT | VICE-PRESIDENT |
GENERAL DIRECTOR, | FINANCIAL DIRECTOR, |
GRIGORE FILIP | DORU DAMASCHIN |
Page 4 of 6
RESOLUTION no. 14
Art. 1. Approves with unanimity of the votes cast, to freeze, at the level decided by the Ordinary General Meeting of the Shareholders on the date of July 9th 2020, the allowance of the Directors (administrators) for the financial year 2023.
Art. 2. Approves with unanimity of the votes cast, to designate a person, as representative of the General Meeting of Shareholders and, such person will represent the company, to edit and sign, with each of the members of the Board of Directors, the additional agreement to the specific contract, as applicable to each.
Art. 3. Approves with unanimity of the votes cast, to empower and give the mandate to Mr. Razvan- Alexandru BEJENARU to edit and sign, with each of the members of the Board of Directors, the additional agreement to the specific contract, as applicable to each.
RESOLUTION no. 15
Sole Article. Approves with unanimity of the votes cast, to register the dividends for the year 2017, not collected and prescribed, in amount of 640.626,70 lei as "other revenues" in accordance with the legal provisions.
RESOLUTION no. 16
Sole Article. Approves with unanimity of the votes cast, the date of January 4th, 2023 as Record Date (ex-date January 3rd, 2023) for the shareholders under the effect of the resolutions adopted by the Ordinary General Meeting of the Shareholders.
RESOLUTION no. 17
Sole Article. Approves with unanimity of the votes cast, to empower the President- General Director of the Company, Mr. eng. Grigore Filip, with the possibility of substitution, to:
- sign on behalf of the Company and/or on behalf of the Company shareholders: the resolutions of the present Ordinary General Meeting of Shareholders, as well as all the documents prepared in the purpose to execute such resolutions, in relation to any natural or legal person, private or public; and
- perform all the legal formalities for registration, opposability, execution and
publication of the resolutions adopted.
President of the Board of Directors- General Director,
Grigore FILIP
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Aerostar SA published this content on 16 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2022 13:12:06 UTC.
