Page 51 - CODIC 2017/2018 Annual Report

Based on the information in their possession, the Directors have not noted, today, any
other risks than those mentioned above that could have a material adverse effect on the
Company’s future results.

5. ALLOCATION OF PROFITS (CODIC INTERNATIONAL SA STATUTORY RESULTS)

The financial year closed with a profit of EUR 43,472,784.07.

The profit available for allocation is as follows:

Profit brought forward as at 30-04-2017: EUR 15,336,380.22
Profit to be allocated for the 2017-2018 financial year: EUR 43,472,784.07

Available profit: EUR 58,809,164.29

The Board proposes as follows:

• To distribute a dividend:
- Gross per share of EUR 350 for type A shareholders
- Gross per share of EUR 350 for type B shareholders

a total amount of EUR 11,695,250

• To carry forward the balance: EUR 47,113,914.29

6. OTHERS

There is no branch in Codic International or any of its subsidiaries.

There are no research and development activities.

Brussels, 4 July 2018

The Board of Directors

Codic Annual Report 2017/2018 49