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 fbi’s, 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 2009, a dividend with stock option of € 2.65 (in cash or in shares) per share is proposed. Of the result for 2009 amounting to -€ 131.9 million, -€ 89.7 million will be incorporated in the legal reserves. The remainder of the result will be appropriated to the general reserve.
Post-balance-sheet events
Corio has sold the the bordeaux megastore for € 67.3 million net. The retail property was sold around book value. Corio decided to sell the bordeaux megastore because it wants to focus on shopping centres with more growth potential. The building accommodates 4 large tenants in the city centre of bordeaux.
On 15 february 2010 Corio acquired the turnkey project nesselande in Rotterdam for a consideration of € 30 million.
Source: Annual Report 2009, Chapter Finacial Statements, page 124 (PDF, 240 kB)
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