text:
RealDolmen Annual Report
- Aldous Norman
- 3 years ago
- Views:
1 RealDolmen Annual Report
2 RealDolmen is a public limited company under Belgian law. The company was founded for an unlimited time. RealDolmen NV has its registered office at A. Vaucampslaan 42 in 1654 Huizingen. The company is registered at the Crossroads Bank for Enterprises ( BCE/KBO ) under number The company files its statutory documents in compliance with Belgian Company Law at the legal entities register of Brussels. The Belgian branches of the company are located in De Pinte, Harelbeke, Kontich, Lummen and Namur. The addresses of the foreign branches are provided in this publication and on the company website. RealDolmen was created after the friendly takeover bid of Real Software nv for the shares of Dolmen Computer Applications nv. After the merger as from 1 April 2008 RealDolmen was chosen as the new name for the merged company. The fiscal year was adapted at that time and now runs from 1 April to 31 march of the next year. The company is listed since 1997 with a listing on NYSE Euronext (REA ISIN BE and REAT ISIN BE ).
3 Table of contents 1 Introduction Report on activities Business review Financial review We make ICT work for your business Home for employees Simple for customers Corporate Governance Statement Introduction Board of Directors Audit comittee Nomination and Remuneration Committee Executive Management Remuneration report External and internal audit Shareholders General meetings Comply or explain Risk factors Financials Consolidated financial statements IFRS Notes Auditor s report on the consolidated financial statement Report from the board of directors to the general shareholders meeting Financial data Post balance sheet events Conflicts of interest and related-party transactions Risk factors Capital increases, issuance of voting securities, acquisition of own shares Use of financial instruments Allocation of the result Corporate Governance Looking forward over the coming twelve months Financial calendar
4 1 Introduction Dear stakeholder, It has been four years since the merged group RealDolmen became a fact. Four years during which our 1,642 employees did their utmost, as it is demonstrated by the encouraging results we realised during the past fiscal year, which was, beyond any doubt, a difficult one. Due to the crisis, quite a few clients had to tighten their belt and managed their budget, including the IT budget, more cautiously and rigorously. RealDolmen has been able to sustain growth successfully with a sales increase of 5,9 percent and a substantial strengthening of the REBIT margin. Furthermore, I would like to refer to our financial structure which allows us to be ready whenever opportunities should arise. Especially the segment 'infrastructure products' performed really well last year, with revenue growth of more than 11 percent. Performances concerning data centre and front office confirm our reputation and leadership position in terms of new trends in regard with internal cloud and mobile technology initiatives. The division "professional services" also performed well with a growth of 4,3 percent. In Belgium, we observed a strong increase in sales activities, supported by an increase of the workforce and by slightly higher prices resulting from more project activity. Revenues in the segment 'business solutions' remained the same. The difficult situation on the Luxembourg market was compensated by the strong performance of our Belgian activities. The awards we won last year, confirm that we truly are a reference company. Trends and Data News awarded us with the Trends ICT Gazellen award and the title of Trends Gazellen Ambassadeur. RealDolmen was ranked as 'best in class' with the highest score of 83 percent in terms of overall customer satisfaction by KPMG Equaterra in the annual survey 'Outsourcing Service Provider Performance in the BeLux'. Furthermore, we succeeded in gaining a number of new major contracts. The uncertain economic environment forces us to be cautious for the current fiscal year. We expect the revenues from services to continue growing. The revenues from 'products' will probably be slightly lower than last year. In general, we expect a slight growth and a small improvement in margins for fiscal year 2012/13. We remain confident that our leading market position, the power of our single source offer, the quality and dedication of our people as well as our financial stability will enable us to further increase our market share. With kind regards, Michel Akkermans, Permanent representative of Pamica NV Chairman Board of Directors 3
5 Dear stakeholder, Financial year 2011/12 is closed. It was a difficult year for the IT sector, which didn t prevent RealDolmen from boosting its turnover by 6 percent and maintaining its profitability. Even better: the operating income before nonrecurring items, the so-called REBIT, increased by almost 10 per cent. However, as already stated, it was not easy. The 'business solutions' segment was affected by the poorer performance within the Luxembourg banking sector, especially during the last quarter. We do all that is necessary to counter the setback, in particular by bringing new products on the market that will positively contribute to the results. The further improvement of our net debt position is an important issue., We have already fully repaid our bond debt of 75 million euro with the cash that we generated over the past few years. Our strategy is to keep sufficient resources within the company, after having repaid the debt and the destruction of some of our own shares, so that we can respond quickly to any arising opportunities. We strongly believe that such opportunities will arise in the years to come. We expect a further consolidation and want to play a leading role in it. That is why we are continuously scanning the market in search of companies that can strengthen our offer and that share our values. We strive to operate within the area that you could describe as at Thalys distance from Brussels, which means we are looking at Wallonia, the Netherlands, France and Luxembourg. Finding suitable employees remains a challenge in the technology sector. Even so, last fiscal year we were able to attract 75 young people who had just left school. They get an internal training for three months after which they are sent to the customers for another three month period to acquire the necessary experience in the field. It is a costly but necessary investment. This year too, we intend to welcome dozens of youngsters. An internal IT training that takes into account the needs of the moment is important, but our main objective is to convince our new employees to adopt the corporate culture that we are so proud of. RealDolmen strives to be a home for its employees and intends to make them familiar with the RealDolmen core values. When those core values are linked to an appropriate leadership model, we can achieve an optimal collaboration and a successful sharing and managing of our knowledge. Our ultimate goal remains to be the reference in the local market for integrated solutions supporting the complete ICT lifecycle. Those integrated solutions are based on infrastructure products combined with professional services in order to support company solutions. This leads us to our ultimate mission: be a single source company with a single soul. Our single source model implies that we are able to provide services and solutions for any ICT domain in any phase: concept development, implementation and maintenance. We are determined to stay committed to our slogan "We make ICT work for your business". Not technology for techies but technology which helps to facilitate our clients business. As their trusted advisor, we want to simplify as much as possible the complexity of the ICT domain. That is our commitment, that is what we stand for. With kind regards, Bruno Segers Permanent Representative All Togehter BVBA Chief Executive Officer 4
6 2 Report on activities Full year Revenue grows with 5,9% to 258,5m Full year REBIT grows with 9,8% to 13,6m, improving REBIT margin to 5,3% Solid financial structure with no net debt Bruno Segers, Chief Executive Officer of RealDolmen, commented: We demonstrated good Revenue and REBIT growth with a slight improvement of our REBIT margins. We have also improved most of our metrics while still managing this group for the long term: we did a substantial hiring of young professionals impacting productivity and we continued to take in cost all our investments in Business Solutions roadmap. Both elements affected this year s profit while still delivering results to be proud about. This is especially true in the current economic environment as is illustrated by the decreasing performance of our Luxemburg business in banking. For the next year we are both positive in light of the strengths we have developed over the recent years and cautious given mixed investment appetite on the market." In m IFRS FY IFRS H2 IFRS H1 IFRS FY Variation in % 31/03/ /03/ /09/ /03/2011 FY vs. FY Turnover continued operations 258,5 129,4 129,1 244,2 5,9% Operating results before non recurring (REBIT) 13,6 7,5 6,1 12,4 9,8% Margin 5,3 % 5,8 % 4,7 % 5,1 % 0,2% Operating results continued operations (EBIT) 13,6 7,5 6,1 13,0 4,6% Net profit (Loss) 7,3 4,2 3,1 7,3-0,2% EBITDA (1) 17,0 9,1 7,9 17,2-1,2% Margin 6,6 % 7,1 % 6,1 % 7,0 % -0,5% (1) EBITDA = EBIT increased with depreciations and amortizations IFRS IFRS Variation in % 31/03/ /03/2011 Equity 143,0 139,1 2,8 % Net debt (2) -0,5-2,8-82,1 % Cash 51,6 57,5-10,2 % (2) Net Debt = Financial debts and bank overdrafts minus cash, assets held for trading and other financial assets 5
7 2.1 Business review During the period, the following contracts and customers were won, across a spread of sectors At the ACOD (Algemene Centrale der Openbare Diensten) RealDolmen won the project to set up a Microsoft Unified Communications environment for about 600 employees, spread over 13 sites. In a first fase focus is on building a basic communications platform using and voice, and providing elementary UC functionality. During further project stages the environment will be extended into a complete and fully integrated Unified Communications & Collaboration platform. Sociaal Huis Oostende appealed to the knowledge and experience of RealDolmen for the integration of Microsoft Lync, in order to increase collaboration efficiency and improve effectiveness of their communication with citizens, all this within the familiar Microsoft Office environment. RealDolmen won the DifTar-project at IGEAN Milieu en Veiligheid (environment and safety). DifTar stands for Differentiated Tariffs and follows the polluter pays principle. This solution, for which the data is hosted in the RealDolmen DataCenter, automates the administration for a network of about 60,000 sites. This encompasses management of addresses, people, containers, interventions, invoicing and reporting. RealDolmen used her existing DifTar-software Aorta, used in several other projects. This project was executed in cooperation with Plastic Omnium, world market leader in services and products for waste collection, who also manage the DifTar telephone service Groene Lijn. During the past year more contracts were won at, amongst others, these customers: Panasonic Energy Belgium Pietercil Waak Sheltered Workshops Jessa Hospital Flemish Home Affairs Government Agency Deceunick Catholic University of Leuven French Ministry of Labor, Employment and Health. Belgian Federal Public Service Finance Vlaamse Landmaatschappij Picanol French Home Affairs Department During the year, RealDolmen has received numerous awards as the reference ICT company The past year RealDolmen continues to affirm its status as reference ICT company. Continued focus on both our single-source strategy and on delivering and improving our operational excellence has resulted in sustained growth throughout the past years. This excellent performance has recently been awarded by Trends and Data News with both the Trends ICT Gazellen award and the Trends Gazellen Ambassadeur title. During our last fiscal year we also received the Best BEL Small Performer Award from NYSE Euronext Brussels in recognition for performances in In the yearly study Outsourcing Service Provider Performance in the BeLux by KPMG Equaterra RealDolmen was ranked as best in class with the highest score of 83% on general customer satisfaction. In that same study RealDolmen gained the number one position as Best Supplier for Application Management and the number two spot as best supplier for both Infrastructure Management and End User & Service Management.. RealDolmen is also one of the leading partners for many of the large technology companies. For instance, RealDolmen is still the sole HP Converged Infrastructure Partner in Belgium. Moreover, RealDolmen has achieved at this moment 9 silver and 13 gold competencies at Microsoft, making us unique in Belgium. Microsoft likewise awarded RealDolmen with the Microsoft Western European ALM Partner Award. 6
8 2.2 Financial review Turnover Total turnover grows by 5,9% for the full year. Year-over-year Services revenue grew by 3,4%. The strong Services revenue growth of the first three quarters has been offset by a weaker fourth quarter mainly in our banking activities in Luxemburg. Products revenue, which is more subject to timing, grew by 11,4% for the full year, notwithstanding a 3,3% decrease in the last quarter of the year. Turnover per segment in m YTD Q3 2011/2012 Q4 2011/2012 FY 2011/2012 YTD Q3 2010/2011 Q4 2010/2011 FY 2010/2011 YTD Q3 % Variance Q4 % Variance FY % Variance Infrastructure products ,9% -3,3% 11,4% Professional Services ,7% 0,8% 4,3% Business Solutions ,6% -16,9% 0,1% Subtotal Services & Solutions ,1% -3,3% 3,4% Total Group ,4% -3,3% 5,9% Infrastructure Products: FY 2011/12 products revenue grew by 11,4%. This year s performance of datacentre and front office offerings confirms the company s reputation and leadership in new trends around internal cloud and mobile technology initiatives. The strong YTD third quarter revenue growth has been tempered by a fourth quarter revenue decrease of -3,3% mainly in lower margin products. Professional Services: Professional Services performed a good 4,3% full year growth. In Belgium, sales were strong while supported by increased headcount and improved rates resulting from more project business. In France, revenue reduced as of the third quarter due to the successful completion of a large project mainly staffed with subcontractors. Belgian Professional Services revenue was also strong in the fourth quarter but group revenue in that quarter grew by only a modest 0,8% solely due to the reduced French activity. Both our Application Services business and our Infrastructure Services business have performed strongly with a good intake of projects and a sound increase of managed services, confirming the traction of our single-source offering in the market. Business Solutions: Year on year Business Solutions revenue growth is flat. This is the result of the strong performance of our Belgian Enterprise Solutions business, especially in new projects, of a consolidation of our MS Dynamics business positioned for traction in the coming years and the negative impact of a decrease of our Luxemburg legacy application business in banking Operating result before non-recurring items (REBIT) Over the year, REBIT increased with 9,8% to 13,6m. REBIT margins improved from 5,1% to 5,3%. The margins in the second year half were down compared to the same period last year mainly as a consequence of a substantial investment in hiring and training of young professionals in Professional Services, increased roadmap investments in Business Applications and a decrease of our banking activity in Luxemburg. segment information m FY 2011/2012 H2 2011/2012 H1 2011/2012 FY 2010/2011 H2 2010/2011 H1 2010/2011 Rev. Rebit % margin Rev. Rebit % margin Rev. Rebit % margin Rev. Rebit % margin Rev. Rebit % margin Rev. Rebit % margin Infra Products 82,7 6,1 7,4% 38,8 3,2 8,3% 43,9 2,9 6,5% 74,2 4,2 5,6% 40,2 2,5 6,3% 34,0 1,7 4,9% Prof Services 139,3 11,1 7,9% 72,6 6,4 8,8% 66,7 4,7 7,0% 133,5 10,0 7,5% 71,7 7,3 10,1% 61,8 2,7 4,4% Bus Solutions 36,5-0,9-2,4% 18,0-0,9-5,2% 18,4 0,1 0,4% 36,4 0,5 1,5% 19,5 0,5 2,7% 16,9-0,0 0,0% Corporate -2,7-1,0% -1,2-0,9% -1,5-1,2% -2,3-1,0% -1,0-0,7% -1,4-1,2% Group 258,5 13,6 5,3% 129,4 7,5 5,8% 129,1 6,1 4,7% 244,2 12,4 5,1% 131,4 9,4 7,1% 112,8 3,0 2,7% Full year REBIT Margins in the Infrastructure Products division increased substantially to 7,4% as the result of a higher value added product mix and improved purchase conditions. Professional Services REBIT margins are ending 0,4% higher than last year up to 7,9%. Such REBIT improvement is reflected in Belgium and France in both our Application Services and our Infrastructure Services business. This is 7
9 the result of an improved management of resources, improved pricing and a tighter management of projects during the entire year. The improved productivity in the first half year has been offset by the impact of a substantial investment in hiring of young professionals in the second half of the fiscal year. Such hiring led to increased training and bench costs in that period in a market environment with mixed investment appetite, especially during the last quarter. The full year REBIT Margins in Business Solutions ended at -2,4% due to a negative second year half margin of - 5,2%. This is the result of decreasing margins in our Business Applications and strongly improving margins in our Enterprise Solutions activities. In Business Applications, roadmap investments in the rewrite of applications for wholesale and enterprise asset management and the development of our hospital application based on MS Dynamics increased and continued to be taken in costs. This is the second year of a three year investment program. In Luxemburg, our banking solutions business was confronted with a substantial decrease while the second year half REBIT margin was also impacted by additional litigation costs regarding pending cases. In our Enterprise Solutions business, increased revenue combined with substantially improved productivity strongly improved margins. Corporate Overhead remained at 1% of revenue, slightly higher than last year mostly as a result of a more limited release of provisions compared to last year Operating result (EBIT) The full year EBIT is 13,6m, 5,3% of revenue. We saw EBIT increase by 0,6m compared to last year. This evolution is on the one hand due to the improved Revenue and REBIT margins generated this year. On the other hand, last year s EBIT was positively impacted by a bad will of 0,6m where this year no non-recurring benefits or charges have been taken into account Total Group Net Profit The Group reported a net profit of 7,3m for the year, similar to last year. The increased EBIT was negatively impacted by a 1m increase in Financial Charges with Financial Income comparable to last year. Financial income was 50k higher compared to last year resulting from higher cash investments. Financial charges increased with 1m as a consequence of the slight increase of the yearly build-up of the debt portion of the convertible bond with 450k and 381k loss resulting from the bond buy back at favourable conditions. Accelerated amortization of the equity impact is taken in this fiscal year while financial benefits will be accounted for next year. The net profit was on the other hand enhanced by a reduction in income taxes of 230k as relatively more profit was generated in Belgium where taxes are booked against our tax losses carried forward Bond Buy Back and Share Buy Back program During the fiscal year RealDolmen bought back 7,4m worth of its 43,5m 2% senior unsecured convertible notes with redemption price of 118,44% (corresponding with a 5,25% per annum yield) coming to maturity in July In 2008, RealDolmen was already able to buy back 31,5m of the then 75m outstanding loan. This time, the notes, including the last 1% coupon due in July, have been bought at a purchase price of 117,44% of their face value. The purchased convertible bonds have been cancelled following which RealDolmen has 41,4m debt regarding the convertible loan notes outstanding. On 5 October 2011, the Extraordinary General Shareholders Meeting has empowered the Board of Directors to purchase its own shares up to a maximum of 20% of its capital. After this date and during the remainder of the fiscal year , RealDolmen purchased a total of of its own treasury shares and possessed 3,81% of the total number of shares issued (i.e bundled shares). Of this total, shares were destroyed further to Belgian Company Law 1 and the related capital decrease is compensated with a capital increase through incorporation of the share premiums. This capital decrease was accounted for as per March 31, 2012, in anticipation 1 Art 625 Belgian Company Law 8
10 of the approval of the extraordinary general shareholders meeting. The decision was approved by the extraordinary general shareholders meeting held on on 20 July 2012, in application of Belgian Company Law Cash flow Total cash outflow amounted to - 4,8m. 7,9m accounts for the operating cash flow. The operating cash flow was impacted by the payment of 1m of indemnification following an arbitration decision in Luxemburg and a higher working capital due to timing. Cash Flow of Finance and Investment Activities amounted to - 12,7m. During the year cash flow was among others impacted by the payment of 8,7m for the bond buy back, the payment of 3,5m for the purchase of own treasury shares and compensated by an increase of 4m factoring in France Equity/net debt Equity increased with 3,8m to 143m. This results from the generated net profit of 7,3m compensated by the impact of the acquisition of own treasury shares under the share buyback program. For of such shares, an unavailable reserve of 0,977m has been accounted for 2,523m worth of such shares corresponding to shares destroyed through a capital decrease (see above). A similar amount of 2,523m out of share premium has been incorporated into capital. The total debt position amounts to 51,1m and consists mainly of a 41,4m convertible debt at favourable terms with maturity in July 2012 as reduced following the bond buy back as described above. Cash balances, including assets held for trading and other financial assets, remain strong at 51,625m. This results in approximately zero Net Debt Prospects for FY 2012/2013 The economic environment requires us to remain careful as we experience mixed investment appetite during the last quarter of the fiscal year. Most of our Service indicators started to improve in the second half of last year and we have maintained them in the second half of this year, except for productivity as a consequence of the massive hiring effort. Headcount has also been growing with only limited impact on the past fiscal year s result. We therefore anticipate the current fiscal year s Services revenue growth to continue. Product revenue will probably be lower compared to last year. The strong products sales in last fiscal year and a lower visibility due to the nature of this business, especially in the current economic uncertainty call for caution. For the current full year 2012/2013 we still anticipate growing mildly while slightly improving margins. We remain confident that our leading market position and the strength of our single source offering, the qualities and dedication of our people, the benefit of the strategic projects in which we have continued to invest and our financial stability, even more critical in turbulent times, will allow us to continue to gain market share. 2 Art 620, 623 and 624 Belgian Company Law 9
11 3 We make ICT work for your business There is a story behind every annual report, which mostly consists of figures. This is also true at RealDolmen. Every company can explain what it does, most companies can also explain how they do it, but at RealDolmen we also know why we do it. That why is summarized perfectly in our company's mission: We make ICT work for your business, that's what it s all about. No technology for the sake of technology but an approach that leads to results. Let's put it another way. Why do people buy a drill? Not for the drill itself, but for the hole that they want to make with that drill. RealDolmen is that drill and our mission is to make the hole. Translated to our craft, after all IT is a craft, we facilitate the business of our customers. We do this in the way that works best for them, with customized resources. Two things are needed to succeed in this mission: competence and sincerity. We must be sincere in what we do and how we do it, otherwise a relationship based on trust is impossible. Competence is fully appreciated in such a relationship. How are we going to realize this? On the one hand with our people, our employees, and on the other hand with our customers. 3.1 Home for employees RealDolmen wants to be a home for its employees. That obviously implies that a certain attitude is required. A RealDolmen employee is someone that exerts clear principles when dealing with customers and colleagues every day. In short, someone with whom it is a pleasure and even a privilege to spend so much time with every day. We have expressed these principles and vision in clear core values to which we attach a lot of importance. Collaboration, innovation, mutual respect, upholding agreements, a nose for craftsmanship and sharing a common passion. We say what we do and do what we say. The leadership model that we employ within RealDolmen is just as important as the values. This model determines how we want to grow, evolve and motivate. Collaboration and building bridges throughout the organization, that is our approach. After all, roads without bridges fail at the first hurdle. What type of leadership does this require? Not a controlling and dictatorial leadership. No, what we expect of our leaders is that they inspire and encourage teamwork. Social media also play an important role in this. They supply the perfect platform for collaboration and cross-fertilization. Collaboration is not only a question of leadership. It also relies on development, sharing knowledge and knowledge management. Over the last few years we have evolved to an environment in which most, if not all, of us will continue to learn throughout our lives. More than ever, we need a perfectly functioning RealDolmen campus where the right courses and participants find each other. In our company, almost everyone takes exams regularly in order to obtain certificates. Many also follow seminars and workshops to remain informed of the latest developments. In short, we are not aiming for boring uniformity but a unity of soul between our people, a single soul. 10
12 3.2 Simple for customers The customers are a second pillar. What can we offer them and how do we deal with that? The answer in a nutshell is that we want to be the reference in the local market for integrated solutions throughout the entire IT lifecycle. To be a reference, you must know what you re talking about. And in all modesty, we do know what we're talking about. As a proof: last year we received again a whole series of awards. Indeed, we were honored with the following awards: Trends ICT Gazellen and Trends Gazellen Ambassador. In addition to this, we also got the price of NYSE Euronext Brussels as Best BEL Small Performer and the annual KPMG EquaTerra study "Outsourcing Service Provider Performance in the BeLux" awarded us with the highest overall customer satisfaction score of 83%. Finally, we were also rewarded by a number of technology partners such as HP for which we remain the only "Converged Infrastructure Partner" in Belgium and Microsoft gave us the Microsoft Western European ALM Partner Award". Where do we want to be that reference? In the local market. We work as a group via a model of local presence to our customers and this in a wide region around Brussels, with a link to the Netherlands, France and Luxemburg. By local we also mean that we are close to our customers and understand their specific problems. What does RealDolmen offer its customers, and what makes us unique? Our single-source story: integrated solutions based on infrastructure products around which we build professional services to support corporate solutions. No, this is not a sales talk but a simple and realistic model of what every company needs to make its business run efficiently. RealDolmen has strong partners, products and experts and it has the ability to bring all this together in an integrated unit. Thanks to our plan-build-operate model we can cover the whole IT lifecycle. We also have the necessary knowledge of the business in order to make everything optimally relevant for the customer. We always depart from a no-nonsense pragmatism because simplicity is a virtue and makes everything easier. As Albert Einstein said: Everything should be made as simple as possible, but not simpler. A single-source company with a single soul summarizes all of the above. Customers who chose RealDolmen get the guarantee that things are performed according to specifications, on time, within budget and without errors. That is our commitment, every day. Why? We make ICT work for your business because in the end, it is all about your business. 11
13 4 Corporate Governance Statement 4.1 Introduction The Board of Directors has approved the Corporate Governance Charter ( the Charter ) in 2005 based on the original Belgian Corporate Governance Code (2004). The Belgian Corporate Governance Code is available on: Since the publication of the Belgian Corporate Governance Code 2009, NV RealDolmen has adopted this Code 2009 as current reference code for the company. The Charter can be consulted on the company website: This statement of corporate governance is a chapter of the annual report with the information required in the articles 96, 2 and 119 of the Belgian Company Code. As provided by Code 2009 RealDolmen explains in this chapter why possibly there are deviations from certain elements of the Code 2009, according to the comply or explain principle. 12
14 4.2 Board of Directors Composition The Board of Directors consists of eight members, of which four are nominated by the main shareholders. All directors are non-executive, apart from the managing director who also holds the title of Chief Executive Officer. Three directors are independent based on criteria of article 526ter of the Company Code and of provision 2.3 of the Belgian Corporate Governance Code. The chairman of the Board of Directors is an independent director and that function is therefore not cumulated by the managing director. Name Chairman Michel Akkermans, permanent representative of NV Pamica Managing Director Bruno Segers, permanent representative of BVBA All Together Start mandate End mandate Main function C.E.O. Clear2Pay 90% Attendance C.E.O. RealDolmen 100% Directors nominated by main shareholders Jef Colruyt Chairman Colruyt Group 60% Wim Colruyt Director Colruyt Group 90% Gaëtan Hannecart C.E.O. Matexi Group 70% Dimitri Duffeleer, permanent representative of NV At Infinitum Managing Director Quaeroq bvba 100% Independent directors Filip Roodhooft, permanent representative of BVBA DR Associates Thierry Janssen, permanent representative of BVBA Temad Professor K.U.L. 100% Managing Director Temad bvba 80% Michel Akkermans (permanent representative of Pamica NV) is civil engineer in electronics and computer sciences with an economics and finance degree of the University Leuven. He has more than twenty years experience in the IT sector, both at national and international level. He is the founder and managing director of the NV Clear2Pay, a company that develops solutions for electronic payments. Thanks to its merger and acquisition policy Clear2Pay now works up to China and Australia. Baron He has founded FICS in 1989, a market leader in software for online banking and mandatory financial reporting. In 1999 he merged FICS, together with Edify and Vertical One, with Security First Technologies, to create the internet banking market leader S1 Corporation (Nasdaq: SONE). Besides Clear2Pay Michel Akkermans is also director at the "privak" (private equity closed-end fund) Quest for Growth, at ICT service provider Approach, at data mining specialist Enqio and at the Agfa-Gevaert Group. He advises venture capital and private equity funds like GIMV ICT, Big Bang Ventures and Hummingbird. Bruno Segers (permanent representative of All Together BVBA) joined RealDolmen in July He is the former Country General Manager of Microsoft BeLux, where he made the company grow from 150m to 300m in six years. He is active in the Belgian IT-sector and in that capacity maintains his mandates in the Boards of i-venture, City Live and IBBT, a research institute of the Flemish government. Baron Jef Colruyt, chairman of the Colruyt Group, has been at the helm of the Colruyt group since He has more than relevant experience in conducting a successful HR policy in various listed or unlisted companies. Wim Colruyt has been active in the ICT sector for 25 years, including 10 years at Dolmen Computer Applications in sales, software development and as head of department. After that, he was responsible for the ICT of Colruyt France and the Foodservice sector. He has a good experience in integrating acquired companies in a multicultural context 13
15 and implementing ERP systems. He holds various mandates within the Colruyt holding. His ICT-background and knowledge of the history and fundamentals of the business are important assets for the Board of Directors. Gaëtan Hannecart is a civil engineer in electro mechanics with a MBA of Harvard University and is at the helm of the Matexi group, which is controlled by the family Vande Vyvere. Matexi is a diversified building company and real estate promoter mainly active in real estate development and residential building as investment. Dimitri Duffeleer (permanent representative of At Infinitum NV) is a civil engineer-architect and manages the bvba Quaeroq, an investment vehicle of the family Vande Vyvere, which so far manages some 25 participations in small and medium-sized listed companies in various sectors and various countries of the European Union. Filip Roodhooft (permanent representative of DR Associates BVBA) is a doctor in economic sciences and professor at the K.U.L. Thierry Janssen (permanent representative of Temad BVBA) is an engineer and has more than 20 years experience in general management functions in IT service providing companies in various countries. He is active in the context of the Just In Time Management partnership ( for more than 8 years Activity report The Board of Directors has met 10 times in the past year. The Board of Directors has supervised the activities of the group by revising the results based on the reporting by the managing director. The annual and half year results and the quarterly results were approved and published. In addition, the Board of Directors has dealt with the following subjects: periodical report by the audit committee and the appointment and remuneration committee, the annual meeting in September 2011, the status of business development (mergers, acquisitions and divestitures), the share buy-back program, operational excellence and strategy for the future ( Vision 2015 ) and the quarterly forecasts Behaviour rules & conflicts of interest Transactions with associated companies Article 524 of the Company Code provides a special procedure that applies to intra group transactions or transactions with affiliated companies. The procedure applies to decisions and transactions between RealDolmen and associated companies of RealDolmen which are no subsidiary companies. It also applies to decisions or transactions between each subsidiary of the company and companies affiliated with subsidiaries of RealDolmen which are no subsidiaries of RealDolmen themselves. Before such a decision or transaction is made or implemented the Board of Directors must appoint a special committee consisting of three independent directors, assisted by one or several independent experts. That committee must assess the pros and cons of the decision or the transaction for the company. It must express the financial consequences and define whether the decision or transaction represents a disadvantage to the company which is obviously illegal in view of company policies. If the committee decides that the decision or transaction is not manifestly illegal, but is of the opinion that it will damage the company, it must explain which advantages were considered to compensate the disadvantages. All these elements are explained in an advice by the committee. The Board of Directors then takes a decision based on the committee's advice. Each deviation from the committee's advice must be justified. Directors on whose behalf a conflict of interest has arisen, are not entitled to participate in the deliberation and the vote (as indicated in the previous paragraph). The advice of the committee and the decision of the Board of Directors must be communicated to the commissioner, who must write a separate opinion. The decision of the committee, an extract of the minutes of the Board of Directors and the opinion of the commissioner must be added to the annual report of the Board of Directors. This procedure does not apply to decisions or transactions under normal circumstances at ordinary market conditions and transactions or decisions with a value of less than 1% of the consolidated net assets of the company. During fiscal year there were no transactions with associated companies. Conflicts of interests Each director and executive manager is encouraged to organize his personal and business matters in such a way that direct and indirect conflicts of interests with RealDolmen are avoided. Without prejudice to the application of legal 14
16 procedures, the Corporate Governance Charter of the company contains specific procedures to offer a solution to potential conflicts. Summarized, a director or an executive manager must inform the Board of Directors before his appointment of his transactions with associated parties with the company or its subsidiaries. During his mandate he must inform the chairman of the Board of Directors of all transactions with associated parties with the company or its subsidiaries he wishes to undertake, and such transactions may only be carried out after approval by the Board of Directors. Article 523 of the Company Code provides a specific procedure within the Board of Directors in case of a possible conflict of interest for one or several directors when taking one or several decisions or when concluding transactions by the Board of Directors. In case of a conflict of interest the director concerned must inform his co-directors of the conflict before the Board of Directors deliberates on the matter and makes a decision on the matter concerned. Furthermore the director involved cannot participate in the deliberation and the vote by the Board of Directors in matters that could generate a possible conflict of interests. Article 524ter of the Company Code provides a similar procedure in case of conflict of interest for members of the executive committee. In case of such a conflict only the Board of Directors can make the decision which led to the said conflict of interest. The Executive Management team is not considered an executive committee in the sense of article 524bis of the Company Code. During fiscal year no potential conflicts of interest were reported to the Board of Directors Rules of conduct financial transactions The Board of Directors has published its policy for the prevention of market abuse in the Charter (chapter 4) Evaluations The Board of Directors evaluates the good functioning of the governing body at the appropriate times according to chapter 1 of the Charter. The Board of Directors started a self-assessment exercise during the fiscal year , the outcome of which will be analysed and debated in the current fiscal year. This self-evaluation comprised the Audit Committee and Nomination & Remuneration Committee. 15
17 4.3 Audit comittee Composition The Audit Committee consists of three members who, conform to article 526bis 2 of the Company Code, are all nonexecutive director and of whom the majority is independent. All members have the necessary experience which makes them suitable for the assignments of the audit committee. The managing director and the Chief Financial Officer are not members of the Committee but are invited to the meetings. Filip Roodhooft (permanent representative of DR Associates BVBA) is the chairman of the Committee due to his academic qualifications and mandates at the K.U.L. and Vlerick Leuven Gent Management School in accountancy, as well as being chairman of the appointment commission of the Belgian Institute of Accountants and Tax consultants. Thierry Janssen (permanent representative of Temad BVBA) brings experience as manager with budget responsibility in a series of ICT companies for more than twenty years thanks to which he combines vision with insight in operational risks. Dimitri Duffeleer (permanent representative of At Infinitum NV) is a civil engineer-architect and has followed several post-graduate business economy and finance courses. He is co-founder and managing director of the investment fund Quaeroq and has more than 11 years experience in the financial analysis of listed companies. He is part of several boards Activity report The audit committee advises the Board of Directors on financial, legal and regulatory supervision. The Committee has specific tasks, including financial reporting, internal control and risk management of the Company, as well as the control and reporting process relating to the Company and its subsidiaries. The Committee regularly reports to the Board of Directors on the execution of its duties and particularly points out matters which require further action or improvement and makes recommendations on possible optimization. The reference provisions of the Audit committee are further described in the Charter. The Committee met five times in the past fiscal year. Audit comittee Attendance Filip Roodhooft 100% Thierry Janssen 100% Dimitri Duffeleer 100% Subjects further examined were: annual, half yearly and quarterly results, the budget process, the annual report, the internal and external audit, the risk management and internal control, the integrity of the financial accounts. Furthermore, the Committee discussed priority themes such as the cost of capital at company and division levels, optimization of reporting by the Committee to the Board of Directors, follow-up of risks identified during the risk assessment workshop, pricing and profitability of major projects. It organized private sessions with the Commissioners, the Chief Financial Officer and the Internal Auditor. 16
18 4.4 Nomination and Remuneration Committee Composition The Nomination and Remuneration Committee consists of three members, all of them non-executive directors. Two members are also independent directors and therefore the Committee is composed according to article 526quater 2 of the Company Code which requires a majority of independent directors. All members have the necessary experience which makes them suitable for the tasks of the Appointment and Remuneration Committee. The Managing Director and Chief People Officer are not members of the committee but are invited to the meetings. Michel Akkermans is chairman of the Committee on the basis of his experience in leading international teams and his specific experience as member of the appointment and remuneration committee of Agfa-Gevaert, a large listed Belgian company. Wim Colruyt has more than twenty years of relevant experience in executing a successful HR policy in parts of the Colruyt Group with listed and unlisted companies. Thierry Janssen has managed several IT companies of large volume and complexity; he contributes his practical vision and knowledge of the IT market to the committee Activity report The Nomination and Remuneration Committee is a permanent committee of the Board of Directors, which issues recommendations to the Board regarding the appointment of directors, to ensure that the appointment and selection process is organized in an adequate and professional manner. It advises on the allocation of functions within the Board of Directors. The Committee discusses the remuneration for the directors which is submitted to the General Meeting for approval, as well as the appointment, dismissal, remuneration and possible bonuses for the Executive Management, and is involved in the general remuneration policy of the group. The reference provisions of the Appointment and Remuneration committee are detailed in the Charter. The Committee met three times in the past fiscal year. Appointment and Remuneration Attendance committee Michel Akkermans 100% Wim Colruyt 100% Thierry Janssen 100% Subjects examined in the past year were: the objectives and variable fees of the executive management, the composition of the Board of Directors, independent chairman of the Board of Directors, an external study on executive compensation and discussions regarding a new variable compensation plan spanning three years. 17
19 4.5 Executive Management Composition The RealDolmen Management Team consists of the Managing Director CEO and five of his direct staff. The daily management of the Company is entrusted to the Managing Director CEO and he therefore represents the Company without prejudice to the general representation competence of the Board of Directors as provided by the statutes. He is responsible for preparing proposals for the Board of Directors relating to strategy, planning, finances, projects, personnel policy and budget and any other matter that needs to be dealt with at the level of the Board of Directors. He is also responsible for the implementation of the approved proposals. The Managing Director CEO is the head of and monitors the various departments of the Company and reports to the Board of Directors about their activities. He is assisted in the execution of his function by the Executive Management, which directly reports to him. The Board of Directors decides on appointments of members of the Executive Management on advice of the Appointment and Remuneration committee. The Executive Management is not an Executive Committee in the sense of article 524bis of the Belgian Company Code. The organization of the Executive Management reflects the operational structure of the Company. The following persons are appointed as members of the Executive Management: Name Marc De Keersmaecker Paul De Schrijver Dirk Debraekeleer Sabine Fannes Thierry de Vries Function Chief Operational Officer Chief Finance Officer Chief Commercial Officer Chief People Officer Secretary-General 18
20 4.6 Remuneration report The remuneration report was introduced by the Law of 6 April 2010 for the strengthening of corporate governance in listed companies Remuneration policy In the fiscal year RealDolmen did not apply a new procedure to (i) develop a remuneration policy for the directors, the members of the board committee, the other leaders and the persons in charge of the daily management of the company, and (ii) define the remuneration of individual directors, members of the board committee, other leaders and persons in charge of the daily management of the company. The applicable remuneration policy is unchanged and strives to market conformity both in the composition of the elements of the remuneration and the amounts, which was at several occasions reviewed by an reputed consultant on the basis of comparable listed companies. The law of 6 April 2010 has adjusted the composition and assignment of the Nomination and Remuneration Committee. The company started to investigate the effects of the new rules and hired an external consultant to help defining a future remuneration policy. The Nomination and Remuneration Committee continues to explore with the CEO an adjustment of this policy vis-à-vis the group s strategy and appropriate objectives for variable remuneration of the executive management Remuneration directors In the fiscal year addressed in the annual report, the following remuneration policy was used in relation to the directors, the members of the board committee, the other leaders and the persons in charge of the daily management of the company: a) the principles on which the remuneration was based, with indication of the relation between remuneration and performances The directors only receive a fixed remuneration without relation to the results of the company but evaluated as a lump sum depending on the efforts made for their mandate and the special responsibility typical for their tasks in the Board of Directors. b) the relative importance of the various components of the remuneration Not applicable, see above. c) the characteristics of performance related bonuses in shares, options or other rights to acquire shares Not applicable, see above. d) information on the remuneration policy for the next two fiscal years The evaluation is ongoing. e) if the wages policy is considerably adjusted compared to the reported fiscal year this must be explicitly expressed. Not applicable, see above. 19
RealDolmen is a public limited company under Belgian law. The company was founded for an unlimited time.
RealDolmen Annual Report 2012-2013 RealDolmen is a public limited company under Belgian law. The company was founded for an unlimited time. RealDolmen NV has its registered office at A.Vaucampslaan 42More information
RealDolmen is a public limited company under Belgian law. The company was founded for an unlimited time.
RealDolmen Annual Report 2013-2014 RealDolmen is a public limited company under Belgian law. The company was founded for an unlimited time. RealDolmen NV has its registered office at A.Vaucampslaan 42More information
FY 2014-2015 press release
FY 2014-2015 press release (Results for the year ended 31 March 2015) Press release May 29, 2015 Huizingen, Belgium Under embargo until May 29, 2015 1,8 year-over-year turnover growth resulting from 9,6More information
OPTION REPORTS FIRST HALF YEAR 2015 RESULTS Leuven, Belgium August 27, 2015 Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), the company connecting Things to the Cloud, today announced its results forMore information
NedSense enterprises n.v. Condensed consolidated Interim financial statements
NED NEDSENSE enterprises n.v. NedSense enterprises n.v. Condensed consolidated Interim financial statements 30 June 2012 NedSense enterprises n.v. Half-year Report 2012 (unaudited) Report of the BoardMore information
Roche Capital Market Ltd Financial Statements 2009
R Roche Capital Market Ltd Financial Statements 2009 1 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes to the Financial Statements. Roche Capital Market Ltd,More information
LAFE CORPORATION LIMITED Un-audited Q1 2014 Financial Statement and Dividend Announcement (All in US Dollars)
LAFE CORPORATION LIMITED Un-audited Q1 2014 Financial Statement and Dividend Announcement (All in US Dollars) PART I INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULLMore information
Roche Capital Market Ltd Financial Statements 2012
R Roche Capital Market Ltd Financial Statements 2012 1 Roche Capital Market Ltd - Financial Statements 2012 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding NotesMore information
INTERNAL REGULATIONS OF THE BOARD OF DIRECTORS. Updated by decisions of the Board of Directors dated 16 January 2015
CERENIS THERAPEUTICS HOLDING Limited liability company with share capital of 679,078.10 Headquarters: 265, rue de la Découverte, 31670 Labège 481 637 718 RCS TOULOUSE INTERNAL REGULATIONS OF THE BOARDMore information
OPTION REPORTS FULL YEAR 2013 RESULTS Leuven, Belgium March 13, 2014 Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), a global leader in wireless connectivity, security and experience, today announcedMore information
Revised May 2007. Corporate Governance Guideline
Revised May 2007 Corporate Governance Guideline Table of Contents 1. INTRODUCTION 1 2. PURPOSES OF GUIDELINE 1 3. APPLICATION AND SCOPE 2 4. DEFINITIONS OF KEY TERMS 2 5. FRAMEWORK USED BY CENTRAL BANKMore information
24 June 2015 STOCK SUBSCRIPTION OPTION PLAN OF SANOFI RULES OF THE PLAN 14 P 1. BENEFICIARIES... 2 2. DURATION OF THE PLAN... 2 3. EXERCISE PRICE... 2 4. EXERCISE CONDITIONS... 2 5. TRANSFER OF SHARES...More information
FOR IMMEDIATE RELEASE 28 September 2015 BOND INTERNATIONAL SOFTWARE PLC UNAUDITED INTERIM RESULTS
FOR IMMEDIATE RELEASE 28 September 2015 BOND INTERNATIONAL SOFTWARE PLC UNAUDITED INTERIM RESULTS Bond International Software Plc ( the Group ), the specialist provider of software for the internationalMore information
FOR IMMEDIATE RELEASE 17 September 2013 BOND INTERNATIONAL SOFTWARE PLC UNAUDITED INTERIM RESULTS
FOR IMMEDIATE RELEASE 17 September 2013 BOND INTERNATIONAL SOFTWARE PLC UNAUDITED INTERIM RESULTS Bond International Software Plc ( the Group ), the specialist provider of software for the internationalMore information
Roche Capital Market Ltd Financial Statements 2014
Roche Capital Market Ltd Financial Statements 2014 1 Roche Capital Market Ltd - Financial Statements 2014 Roche Capital Market Ltd, Financial Statements Roche Capital Market Ltd, statement of comprehensiveMore information
Corporate Governance Charter
BHF Kleinwort Benson Group SA Public limited liability company Avenue Louise 326 1050 Brussels RLE n 0866.015.010 Corporate Governance Charter Last amended as of 24 March 2015 Contents 1 Board of Directors...More information
Consolidated financial statements
Summary of significant accounting policies Basis of preparation DSM s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adoptedMore information
Press release. Qurius trading update Q3-2007
Qurius trading update Q3-2007 (in EUR x 1,000) Q3-2007 Q3-2007 Ytd Q3-2006 Q3-2006 Ytd Net sales 27,291 78,499 8,603 30,781 EBIT -1,114 1,738 436 3,499 Net profit -854 657 292 2,391 25 October 2007 InMore information
TiGenix Naamloze vennootschap Romeinse straat 12 box 2 3001 Leuven VAT BE 0471.340.123 RLE Leuven (The Company ) SPECIAL REPORT OF THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 583 OF THE COMPANIES CODE WITHMore information
Brookfield financial Review q2 2010
Brookfield financial Review q2 2010 Overview Operating cash flow and gains totalled $327 million in the second quarter or $0.53 per share compared to $294 million in the prior year. This brings operatingMore information
Ministry of Labour and Social Policy LAW ON VOLUNTARY FULLY FUNDED PENSION INSURANCE (189347.11)
Ministry of Labour and Social Policy LAW ON VOLUNTARY FULLY FUNDED PENSION INSURANCE 1 Table of Contents CHAPTER 1 GENERAL PROVISIONS... 3 CHAPTER 2 VOLUNTARY PENSION FUNDS... 7 CHAPTER 3 PENSION COMPANIESMore information
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS For the six months periods ended 31 December 2012 and 31 December 2011 TABLE OF CONTENTS UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIALMore information
PENSONIC HOLDINGS BERHAD (300426-P) (Incorporated in Malaysia) CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE QUARTER ENDED 31 AUGUST 2015
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE QUARTER ENDED 31 AUGUST 2015 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE QUARTER ENDED 31 AUGUST 2015 (Unaudited) Individual QuarterMore information
Strong increase of sales and gross margin Extraordinary costs cause net loss
IMAGE RECOGNITION INTEGRATED SYSTEMS GROUP S.A. (abbreviated I.R.I.S. Group ) FINANCIAL RESULTS FISCAL YEAR 2002 Sales + 18% Gross margin + 18% EBITDA + 2.4% Net current profit before goodwill 772,049More information
corporategovernance twothousandfourteen
corporategovernance twothousandfourteen 2014 1 Corporate governance This Corporate Governance Statement for IOOF Holdings Limited (IOOF) sets out as required by the ASX Listing Rules details of IOOF sMore information
PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING
PRESS RELEASE GENERAL SHAREHOLDERS MEETING Ana Botín: Santander is well positioned to face the challenges. We will lead change Banco Santander has room for growth within our customer base and in our tenMore information
FY15 Supplemental Information January 5, 2016
FY15 Supplemental Information January 5, 2016 Safe Harbor This document contains certain forward-looking statements. These statements are based on the company s current expectations as to the outcome andMore information
Rella Holding A/S in liquidation CVR-No. 15 35 94 39. Final Liquidation Accounts 1 January 2015 13 July 2015
CVR-No. 15 35 94 39 Final Liquidation Accounts 1 January 2015 13 July 2015 1 CONTENTS Page STATEMENT BY THE LIQUIDATOR... 2 STATEMENT BY THE COMPANY S INDEPENDENT AUDITOR 3 COMPANY INFORMATION.. 5 KEYMore information
Doha Bank. Board of Directors Terms of Reference. Version 1.0
Doha Bank Board of Directors Terms of Reference Version 1.0 TABLE OF CONTENTS INTRODUCTION... 1 BOARD MEETINGS... 2 BOARD COMPOSITION... 4 ROLES AND RESPONSIBILITIES...5 BOARD COMMITTEES... 11 BOARD MEMBERSHIP...15More information
Annual report 2014. Option Trading Company N.V. Brussel
Annual report 2014 Option Trading Company N.V. Brussel Table of contents Page 1. Report of the Board 4 2. Financial overview and company information 2.1 Core figures 5 2.2 Balance headlines 5 2.3 ProfitMore information
Corning Incorporated Corporate Governance Guidelines
Corning Incorporated Corporate Governance Guidelines The Board of Directors of Corning Incorporated, acting on the recommendation of its Nominating and Corporate Governance Committee, has adopted theseMore information
Press release Regulated information
Press release Regulated information 26 February 2010 Annual results 2009 Press Katelijn Bohez T +32 56 23 05 71 Investor Relations Jacques Anckaert T +32 56 23 05 72 www.bekaert.com www.bekaert.mobi BekaertMore information
THE GROUP S CODE OF CORPORATE GOVERNANCE REVISED SEPTEMBER 2012 CONTENTS INTRODUCTION..... p. 4 A) RULES OF OPERATION OF UNIPOL GRUPPO FINANZIARIO S.p.A. s MANAGEMENT BODIES....... p. 6 A.1 BOARD OF DIRECTORS....More information
2 0 0 7 2 0 0 8 a n n u a l r e p o r t
2 0 0 7 2 0 0 8 annual report Core figures Dolmen Group Earnings per share Dolmen Profit and cash flow in million euros 18 Net profit Cash flow 16 Operation profit Consolidated sales 205,25 14 15,62 12More information
Statement of Financial Accounting Standards No. 7. Consolidated Financial Statements
Statement of Financial Accounting Standards No. 7 Statement of Financial Accounting Standards No. 7 Consolidated Financial Statements 30 November 2004 Translated by Wei-heng Lin, Associate Professor (ChungMore information
Report of the Board of Directors
Report of the Board of Directors First Half 2010 In the first half of 2010, NedSense enterprises n.v. (the Company ) has performed on par with expectations, with results strongly improved as compared toMore information
Financial Reporting Matters
Financial Reporting Matters August 2005 Issue 7 A UDIT This issue of Financial Reporting Matters continues with the financial reporting implications of the Companies Amendment Act 2005 and discusses theMore information
BOARD CHARTER. (Amended in March 2015)
GEMALTO N.V. (THE "COMPANY") 1. Functions of the Board BOARD CHARTER (Amended in March 2015) The Company shall be managed by a one-tier Board, comprising one Executive Board member, i.e. the Chief ExecutiveMore information
Annual General Meeting of Fresenius SE on May 12, 2010. Speech of Dr. Ulf M. Schneider, Chairman of the Management Board
Annual General Meeting of Fresenius SE on May 12, 2010 Speech of Dr. Ulf M. Schneider, Chairman of the Management Board The spoken word has precedence. Chart: Welcome Good morning, ladies and gentlemen.More information
Corporate governance report Sandvik 2006
Corporate governance report Sandvik 2006 Effective and transparent corporate governance enhances the confidence of Sandvik s stakeholders and also heightens focus on business value and shareholders value.More information
Significant reduction in net loss
press release 12 May 2015 Royal Imtech publishes first quarter 2015 results Significant reduction in net loss Order intake in Q1 at a satisfactorily level of 912 million Revenue 3% down excluding GermanyMore information
Small Company Limited. Report and Accounts. 31 December 2007
Registered number 123456 Small Company Limited Report and Accounts 31 December 2007 Report and accounts Contents Page Company information 1 Directors' report 2 Accountants' report 3 Profit and loss accountMore information
7.4 - Report of the chairman of the board of directors on internal controls
ADMINISTRATION AND MANAGEMENT OF TE COMPANY. - Report of the chairman of the board of directors on internal controls The report of the Chairman of the Board of Directors relating to internal controls isMore information
<Name and Address> <Date> Dear <Name of the Director>, Sub: Appointment as Independent Director
Dear , Sub: Appointment as Independent Director I am pleased to inform you that upon the recommendation of the Nominations and Remuneration Committee, theMore information
3 MONTH REPORT AS AT 31 DECEMBER 2014 KEY FIGURES IFRS in KEUR 10/2014 12/2014 10/2013 12/2013 Difference in % Earnings situation Sales revenues 61,403 56,296 5,107 9% EBITDA 7,159 5,901 1,258 21% EBITDAMore information
Corporate Governance in Gabriel Holding A/S. Updated November 2015
Corporate Governance in Gabriel Holding A/S Updated November 2015 1 Gabriel Holding A/S has prepared the statutory statement on corporate governance as per section 107b of the Danish Financial StatementsMore information
Testimony of the Honorable Kenneth A. Spearman Chairman and Chief Executive Officer Farm Credit Administration Before the Subcommittee on Agriculture, Rural Development, Food and Drug Administration, andMore information
Solvac: Stable dividend in 2014 compared to 2013
SOLVAC SOCIETE ANONYME Rue de Ransbeek 310 - B-1120 Brussels Belgium Tel. + 32 2 639 66 30 Fax + 32 2 639 66 31 www.solvac.be Press Release Embargo, 27 February 2015 at 5:40 p.m. Regulated informationMore information
Appendix 14 CORPORATE GOVERNANCE CODE AND CORPORATE GOVERNANCE REPORT
Appendix 14 CORPORATE GOVERNANCE CODE AND CORPORATE GOVERNANCE REPORT The Code This Code sets out the principles of good corporate governance, and two levels of recommendations: code provisions; and recommendedMore information
Ordina does not have a one-tier board. In view of the above, a limited number of the Code s best practices do not apply.
CORPORATE GOVERNANCE STATEMENT This is a statement regarding corporate governance as meant in article 2a of the decree on additional requirements for annual reports (Vaststellingsbesluit nadere voorschriftenMore information
OPEN JOINT STOCK COMPANY AGENCY FOR HOUSING MORTGAGE LENDING. Agency for Housing Mortgage Lending OJSC INFORMATION POLICY GUIDELINES.
OPEN JOINT STOCK COMPANY AGENCY FOR HOUSING MORTGAGE LENDING APPROVED: by decision of the Supervisory Council (minutes No 09 of 21 December 2007) Agency for Housing Mortgage Lending OJSC INFORMATION POLICYMore information
Rules of Procedure Board of Management and Executive Committee Koninklijke Philips N.V.
Rules of Procedure Board of Management and Executive Committee Koninklijke Philips N.V. Responsibilities of the Board of Management and of the Executive Committee Article 1 1. The Board of Management (theMore information
Significant investment in Slovenia and bond issuance
DDM DEBT AB (publ) Corporate Registration Number: 559053-6230 Interim Report Q3 1 July 30 September Significant investment in Slovenia and bond issuance Highlights third quarter Net collections of EURMore information
AUDIT REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM AND CONSOLIDATED FINANCIAL STATEMENTS C O N T E N T S Report of Independent Registered Public Accounting Firm.... 3 Consolidated Balance Sheets...More information
Welcome to workshop on revised schedule VI. K. Chandra Sekhar Company Secretary Ace Designers Limited, Bangalore
Welcome to workshop on revised schedule VI K. Chandra Sekhar Company Secretary Ace Designers Limited, Bangalore 1 Relevant provisions Indian Companies Act, 1956 Rules Notifications Circulars AccountingMore information
Full year and fourth quarter 2014 results 1
Full year and fourth quarter results 1 Luxembourg, February 12, 2015 Highlights Health and Safety frequency rate 2 of 1.1x in compared to 1.3x in 2013. Shipments of 1,813 thousand tonnes in full year,More information
Half year results 2011
Half year results 2011 29 July 2011 Bert De Graeve, Chief Executive Officer Bruno Humblet, Chief Financial Officer Address by Bert De Graeve, Chief Executive Officer Introductory remark The consolidatedMore information
1 Money and income Currency currency notes (banknotes) coins cash bank deposits BrE: note or banknote; on paper AmE: bill
1 A B Money and income Currency The money used in a country euros, dollars, yen, etc. is its currency. Money in notes (banknotes) and coins is called cash. Most money, however, consists of bank deposits:More information
ENGINEERING INGEGNERIA INFORMATICA S.p.A. HEADQUARTERS IN ROME, VIA SAN MARTINO DELLA BATTAGLIA, 56 UNDERSIGNED AND FULLY PAID UP SHARE CAPITAL 31,875,000 TRADE REGISTER NO. 00967720285 ROME CHAMBERS OFMore information
ARTICLES OF INCORPORATION. Miba Aktiengesellschaft. I. General provisions. Section 1 Name and seat of the company
ARTICLES OF INCORPORATION of Miba Aktiengesellschaft I. General provisions Section 1 Name and seat of the company (1) The name of the company is Miba Aktiengesellschaft (2) The company is based in Laakirchen,More information
BOARD CHARTER. Its objectives are to: provide strategic guidance for the Company and effective oversight of management;
BOARD CHARTER Objectives The Board is ultimately responsible for the oversight and review of the management, operations and overall corporate governance of the Company. Its objectives are to: provide strategicMore information
Strong first quarter sales growth in all business groups
Strong first quarter sales growth in all business groups Agfa-Gevaert announced its first quarter results. All business groups reported solid sales, leading to an increase in Group sales of 8.1 percentMore information
Internal policy relating to trading in securities and compliance with French laws and regulations applicable to insider trading.
«In case of a doubt concerning the interpretation of the text please note that the French document will take precedence. Valeo Internal policy relating to trading in securities and compliance with FrenchMore information
mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com
Date: 27 August 2015 For information: mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Growth of 20% in net result, excluding non-recurring items, to EUR 8.3More information
Tata Steel International (Benelux) B.V. Established in Maastricht. Report concerning the Financial statements 1 April 2015 till 31 March 2016
Tata Steel International (Benelux) B.V. Established in Maastricht Report concerning the Financial statements 1 April 2015 till 31 March 2016 EFEM asvies Doonheide 48 5421 ZP Gemert firstname.lastname@example.com information
LSP Advisory B.V. Report on the first half of 2015
LSP Advisory B.V. Report on the first half of 2015 LSP Advisory B.V. Financial statements for the period January until June 2015 Table of contents Financial report Directors report 2 Balance sheet as atMore information
First quarter 2015 results 1
First quarter results 1 Luxembourg, May 5, Highlights Health and Safety frequency rate 2 of 1.3x in Q1 compared to 1.8x in Q4. Shipments of 469 thousand tonnes in Q1 compared to shipments of 439 thousandMore information
Interim financial report third quarter 2014 Investor presentation. Koen Van Gerven, CEO Pierre Winand, CFO
Interim financial report third quarter 204 Investor presentation Koen Van Gerven, CEO Pierre Winand, CFO Brussels November, 4th 204 Investor presentation - Interim financial report 3Q4 2 Financial CalendarMore information
OPPENHEIMER HOLDINGS INC. ANNUAL STOCKHOLDERS MEETING. New York, NY May 9, 2016
OPPENHEIMER HOLDINGS INC. ANNUAL STOCKHOLDERS MEETING New York, NY May 9, 2016 WELCOME to Oppenheimer s 2016 Annual Stockholders Meeting May 9, 2016 2 SAFE HARBOR STATEMENT This presentation and otherMore information
Schroders Investment and Corporate Governance: Schroders Policy
January 2013 Schroders Investment and Corporate Governance: Schroders Policy Contents Investment and Corporate Governance: Schroders Policy 2 Corporate Governance: The Role and Objectives of SchrodersMore information
Articles of Association for Eyrir Invest hf.
Articles of Association for Eyrir Invest hf. Art. 1 The Company is a public limited company. The name of the Company is Eyrir Invest hf. Art. 2 The Company is domiciled at Skólavörðustígur 13 in Reykjavik.More information
DEVOTEAM reports 2011 financials: 7% increase in revenues and 6% growth of diluted earnings per share
DEVOTEAM reports 2011 financials: 7% increase in revenues and 6% growth of diluted earnings per share Paris, February 29 th, 2012 In millions of euros (1) 31.12.2011 31.12.2010 change Revenues 528.1 495.0More information
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited)
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) March 31,2000 TABLE OF CONTENTS CONSOLIDATED INCOME 2 CONSOLIDATED CONTINUITY OF EQUITY 3 CONSOLIDATEDMore information
Results For The Financial Year Ended 31 December 2014 Unaudited Financial Statements and Dividend Announcement
Financial Statements and Related Announcement::Full Yearly Results http://infopub.sgx.com/apps?a=cow_corpannouncement_content&b=announcem... Page 1 of 1 2/27/2015 Financial Statements and Related Announcement::FullMore information
SANTANDER CONSUMER USA HOLDINGS INC. CORPORATE GOVERNANCE GUIDELINES Good governance, ethical conduct, accountability and transparency are essential to the success of a public company. The Board of DirectorsMore information
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 JUNE Revenue 9,516,521 14,646,232 20,422,290 21,559,263
INDUSTRONICS BERHAD (23699-X) (Incorporated in Malaysia) CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 JUNE 2012 INDIVIDUAL QUARTER CUMULATIVE QUARTERS CURRENT PRECEDINGMore information
Corporate Governance Regulations
Corporate Governance Regulations Contents Part 1: Preliminary Provisions Article 1: Preamble... Article 2: Definitions... Part 2: Rights of Shareholders and the General Assembly Article 3: General RightsMore information
10 Audit of Consolidated Financial Statements
101 Introduction 10 Audit of Consolidated Financial Statements The Council of the Institute of Chartered Accountants of India has issued Accounting Standard (AS) 21 Consolidated Financial Statements whichMore information
Status: june 2015 Complete text of Memorandum and Articles of Association of DMG MORI Aktiengesellschaft Bielefeld IDENTIFY THE CHANCES SHAPE THE FUTURE 1 (1) The Company exists under the name DMG MORIMore information
BOARD CHARTER Link Administration Holdings Limited ("Company") ABN 27 120 964 098
1. Role of the Board BOARD CHARTER Link Administration Holdings Limited ("Company") ABN 27 120 964 098 This Board Charter sets out the principles for the operation of the board of directors of the CompanyMore information
NN Group N.V. 30 June 2015 Condensed consolidated interim financial information
Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interimMore information
Inca One Gold Corp. Insider Trading Policy
Inca One Gold Corp. Insider Trading Policy 1.0 Introduction The Board of Directors (the Board ) of Inca One Gold Corp. ( Inca One ) 1 has determined that Inca One should formalize its policy on securitiesMore information
Semi-Annual Financial Statements 1/2012 of TELES Group
Semi-Annual Financial Statements 1/ of TELES Group (IFRS, unaudited) Key Figures January 1 through June 30, - Semi-annual figures confirm consolidation measures initiated during the preceding year - SignificantMore information
a. Constitution and Appointment of the Board of Directors
Quest for Growth - Corporate Governance Charter Since its foundation in 1998 Quest for Growth has been placing great emphasis on sound management and transparency. On 9 December 2004 the final versionMore information
Chapter 001 Introduction to Corporate Finance
Multiple Choice Questions 1. The person generally directly responsible for overseeing the tax management, cost accounting, financial accounting, and data processing functions is the: a. treasurer. b. director.More information
Countplus Limited FY2014 Annual Results
ASX ANNOUNCEMENT CUP 20 August 2014 Countplus Limited FY2014 Annual Results Net Profit before Tax: $15.25m (up 2%) Earnings per Share: $10.14 cents (up 2%) 2c Interim Quarterly Dividend Declared New directMore information
S.p.A. INFORMATION DOCUMENT PERTAINING TO COMPENSATION PLANS BASED ON FINANCIAL INSTRUMENTS (2016 Plan) (pursuant to Article 114 Bis of the CFA and Article 84 Bis of the Consob Issuers Regulations) DocumentMore information
Corporate Governance in D/S NORDEN
Corporate Governance in D/S NORDEN Contents: 1. The role of the shareholders and their interaction with the management of the company... 2 2. The role of the stakeholders and their importance to the company...More information
HEICO CORPORATION CORPORATE GOVERNANCE GUIDELINES ROLE AND FUNCTIONS OF THE BOARD OF DIRECTORS The role of the Board of Directors (the "Board") with respect to corporate governance is to oversee and monitorMore information
1. Definition of cash components
Opinion n 2015-06 of 3 July 2015 relating to Central Government Accounting Standard 10 Cash Components On 3 July 2015 the Public Sector Accounting Standards Council adopted this Opinion relating to CentralMore information
CORPORATE GOVERNANCE GUIDELINES As Amended and Restated by the Board of Directors November 2, 2015
CORPORATE GOVERNANCE GUIDELINES As Amended and Restated by the Board of Directors November 2, 2015 Role and Functions of the Board of Directors The role of the Board of Directors (the Board ) of AnadarkoMore information
I. Introduction CORPORATE GOVERNANCE GUIDELINES The Board of Trustees of Urban Edge Properties (the Trust ), acting on the recommendation of its Corporate Governance and Nominating Committee, has developedMore information
BOARDROOM LIMITED (Registration No. 200003902Z)
BOARDROOM LIMITED (Registration No. 200003902Z) FIFTH QUARTER FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE FIFTEEN MONTHS ENDED 30 SEPTEMBER 2014 PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTSMore information
2014 HALF-YEARLY RESULTS Continued revenue growth Run rate for bank card collections in excess of 560 million Strategic investment initiative is maintained Brussels, 30 July 2014, 7:30 AM Regulated informationMore information
Corporate Governance Code for Shareholding Companies Listed on the Amman Stock Exchange
Corporate Governance Code for Shareholding Companies Listed on the Amman Stock Exchange CONTENTS Topic Page Preamble 3 Chapter One: Definitions 5 Chapter Two: The Board of Directors of the ShareholdingMore information
Intel Reports Fourth-Quarter and Annual Results
Intel Corporation 2200 Mission College Blvd. P.O. Box 58119 Santa Clara, CA 95052-8119 CONTACTS: Reuben Gallegos Amy Kircos Investor Relations Media Relations 408-765-5374 480-552-8803 email@example.com information
ESM Management Comments on Board of Auditors Annual Report to the Board of Governors for the period ended 31 December 2014
ESM Management Comments on Board of Auditors Annual Report to the Board of Governors for the period ended 31 December 2014 Dear Chairperson, I would like to thank you for the opportunity to provide managementMore information
SUMMARY Belfius Financing Company (LU) NOK Step Up 2 due 7 April 2020
SUMMARY Belfius Financing Company (LU) NOK Step Up 2 due 7 April 2020 The following summary is established in accordance with Articles 24 and 28 of the Belgian Law of 16 June 2006 on the public offer ofMore information
Quarterly Financial Report March 31, 2009. MBB Industries AG. Berlin
Quarterly Financial Report March 31, 2009 MBB Industries AG. Berlin Quarterly Financial Report March 31, 2009 MBB Industries AG MBB Industries in Numbers 03 MBB Industries in Numbers Three Month (Jan.More information
Man Group plc ( the Company ) Appendix 1. Schedule of matters reserved for Board decision (July 2016)
Man Group plc ( the Company ) Appendix 1 Schedule of matters reserved for Board decision (July 2016) The Board delegates all decision making on and management of the business to the Chief Executive OfficerMore information


text:
Friday, February 15, 2008
Happy Birthday Garry
My son is 39 today. I can't believe it, pictured here with his eldest (Georgia) - they don't look very happy to be at the zoo do they?
Posted by Di Overton at 2:32 pm
Labels: family
5 comments:
- paris parfait said...
It's impossible for you to have a son that's 39! Great photo of him; his daughter looks a little annoyed at being asked to pose. :) xo
- 7:12 pm
I can't believe it either!!!
How could you have a son who is 39?
You sure he isn't yr bro?
- 12:05 am
- babelfish said...
So wonderful to see members of your family, same sentiments as parisbreakfast.
- 12:12 pm
- rochambeau said...
Happy Birthday Garry! May this be the beginning of your best year of yet!!
- 1:54 pm
- Queenie said...
You were a child bride as well then Di!!!!!
- 12:47 pm
Subscribe to: Post Comments (Atom)

subset: commoncrawl


text:
Harrisburg, PA – The Property Tax/Rent Rebate program deadline for older adults and residents with disabilities to apply for rebates of rent and property taxes paid in 2015 has been extended from June 30 to Dec. 31, 2016.
"The deadline has been extended again this year for eligible seniors and people with disabilities to apply for relief of property tax or rent relief," said Revenue Secretary Eileen McNulty. "Last year, nearly 600,000 people benefited from the program. Distribution of rebates starts July 1, so eligible Pennsylvanians are encouraged to apply soon."
Each year the department evaluates the program as the statutory June 30 application deadline approaches to determine if funds are available to extend the deadline. To date, funding has been available to allow all who qualify to take advantage of this tax relief.
As of May 27, the Revenue Department had received 468,933 rebate applications. As specified by law, rebate distribution begins July 1. Payment for processed applications of direct deposit recipients will occur that day. Applicants requesting a paper check can expect to receive their payment by mail over the next several days. After June 30, rebates will be distributed as claims are received and processed. Applications take 4-6 weeks to process.
Applicants may obtain Property Tax/Rent Rebate claim forms (PA-1000) and related information online at www.revenue.pa.gov or by calling, toll-free, 1-888-222-9190.
It costs nothing to apply for a rebate, and the department reminds residents that free application assistance is available at hundreds of locations across the state, including Department of Revenue district offices, local Area Agencies on Aging, senior centers and state legislators' offices.
Claimants who already applied for rebates may check the status of claims online at www.revenue.pa.gov or by calling, toll-free, 1-888-PATAXES.
About the Property Tax/Rent Rebate Program:
The rebate program benefits eligible Pennsylvanians age 65 and older; widows and widowers age 50 and older; and people with disabilities age 18 and older. The income limit is $35,000 a year for homeowners and $15,000 annually for renters, and half of Social Security income is excluded.
Some applicants who previously received rebates may continue to qualify despite Social Security cost-of-living adjustments that may have pushed their income past the eligibility limits. This is explained in the instructions for the claim form.
The maximum standard rebate is $650, but supplemental rebates for certain qualifying homeowners can boost rebates to $975. The Revenue Department automatically calculates supplemental rebates for qualifying homeowners.
Since the Property Tax/Rent Rebate Program's 1971 inception, older and disabled adults have received more than $5.9 billion in property tax and rent relief. The program is funded by the Pennsylvania Lottery and revenue from slots gaming.
SOURCE: news release


text:
Radio Verulam's drivetime show blog. Danny Smith presents the show weekdays from 4pm - 7pm on 92.6FM or online at www.radioverulam.com
Monday, 1 August 2011
Monthly Wildlife Feature with Sarah Buckingham from The Herts and Middx Wildlife Trust
Today on WHD we welcomed Sarah Buckingham from The Herts and Middx Wildlife Trust to give us an update on various wildlife issues.
Sarah told Danny that the Government has just launched a new planning framework that could mean that wildlife sites are less protected. This new move by the Government has not been widely publicised and there is a fear that developers could build where they like and almost have free rein. The Herts and Middx Wildlife Trust will be lobbying the Government as Hertfordshire has 2000 wildlife sites that could be affected.
News on the HS2 which is the proposed high speed rail link between London and Birmingham. Public consultation has now been closed but The Herts and Middx Wildlife Trust are still campaigning. Sarah says they are not against it per se - but they want a strategic review to take in account the impact of wildlife as a whole. You can still write to your MP about this - see www.hertswildlifetrust.org.uk to see information.
And did you know that the largest insect in England is the Great Green Bush Cricket! You can see these critters and many more with events that can be found on www.hertswildlifetrust.org.uk
Posted by Jackie Johnson at 18:03
Subscribe to: Post Comments (Atom)


text:
A selection of Arctic Portal maps are now availble online for free download here. Since 2009, Arctic Portal has been providing visual information about Arctic related information (as sea-ice conditions, shipping lines, resources, Arctic people, governance, etc..) through various databases. The system is powered by the Inter-Map mapping system, developed by the Arctic Portal staff.
All data utilized to create our maps are provided either from our partners, either from the best reliable databases currently available (sources are always quoted clearly).
At the moment you can browse the section "Arctic Definitions", but new will come in the next few weeks.
All maps can be downloaded and used for free, behind quotation of the source (the suggested quotation is : Map provided by www.arcticportal.org) . For any commercial use of our maps, which includes but it is not limited to, selling AP maps, modify and sell AP maps, pubblication, reports, books, please contact us.


text:
What is the Boston HubSpot User Group?
The Boston HubSpot User Group is an impassioned community of inbound marketers. We meet quarterly at the HubSpot HQ in Cambridge to discuss marketing trends and learn best practices. Events are free and lots of fun!
What are meetups like?
Meetups are a blast! You'll learn marketing best practices from world class speakers, network with Boston's elite marketers, and gain access to an impassioned community. Need an example? One time, we threw a pizza party with HubSpot's former CMO, Mike Volpe.
Who should attend?
Well, you for starters! The Boston HubSpot User Group is a community for marketers, small business owners, and start ups; really anyone interested in inbound marketing. You do not need to be a HubSpot customer to attend a HUG meetup.
The Boston HubSpot User Group exists so that we can help each other's businesses grow. It is a place for us to bring our challenges and find solutions from a community willing to help. And yes, occasionally there's free beer!
Tony Paille Boston HUG Leader[fa icon="quote-right"]


text:
Liam Hemsworth Covers 'Flaunt' Magazine
Liam Hemsworth gives a smoldering stare on the cover of Flaunt Magazine's Issue 120.
Here is what the 22-year-old Hunger Games actor had to share with the mag:
On getting cast and cut from The Expendables: "I got a call from Stallone… It was a really surreal moment. Two weeks later, we found out that the script got rewritten. [And I was out]."
On loving the business: "Since I as a kid, [I've been] very creative. As long as I am busy and working and able to do this crazy job that I do, I'm happy."
On having supportive friends and family: "You lose focus when you don't have good people around you. I think whatever I was doing in this world I would want a loving family that supported me and friends, good people around me that bring out the best."
On his famous girlfriend [Miley Cyrus] and brother [Chris Hemsworth]: "It's definitely nice to have people around me like [my brother] and my girlfriend who have experienced it before. To ask them questions, it definitely makes it easier in that sense. It doesn't make it any easier getting roles. It's just me in the room when I'm meeting directors and reading with directors."
For more from Liam, visit Flaunt.com!
FYI: Liam is wearing Royal Elastic shoes.
10+ pictures inside of Liam Hemsworth's photo spread from Flaunt Magazine…


text:
Jack Neu
Hands down, he is the only teacher that actually made me want to attend class. I've always looked forward to my next class with him. He's for sure the most intersting teacher that any school has to offer. Sad to see him retire in 2017
Lool Mr neu one of the best teacher!! Love his class, so chill and nice guy. Unlike unlike other teachers he won't care late assignment or late for class (he won't get mad) I recommend him!!
he is honestly soo genuine and he is so different from other teachers. he's very understanding and we don't get much homework at all but his assignments/projects are pretty hard, he will help you a lot though! one of the best teachers ever
Honest to God the greatest teacher on the face of the earth.
Mr Neu is the best teacher I ever have. He used different method of teaching when you don't understand something. I never got bored in his class and he is the nicest teacher ever!!!!
is one of the best teachers I've ever had. entertaining, political, and intelligent. this being said there are many flaws in his teaching. he gives huge projects worth large portions of your entire mark and often comes to class moody and yelling. if he's in a bad mood, every one is gonna leave that class on the verge of tears
Extremely entertaining teacher, not a day where I'm bored in his class... although you'll need to work hard to ace the reasonably difficult projects he gives you.
wow, the most interesting teacher I've ever had. Always makes me smile, I always look forward to his classes.
It's not just that he is a great teacher and explains things well. He is great at solving your problems, lighting up your day, and teaching life lessons. He understands you and is funny. Take one of his classes, it will have a great impact on your life. I wish all teachers were like him!
a good teacher. Not strict. smart and helpful. He is nice
This guy is a teacher that you'll never forget. If you get a chance, TAKE ONE OF HIS CLASSES. He is definitely going to impact your life. I can't even count how many times I've left his class flabbergasted by the lecture he gave that day. He has amazing views on life and if you have him in English 12, his lectures about existentialism really leaves you thinking about what your views are. Overall, a teacher that will impact your life immensely! amazing.
mr neu is a very chill/ cool teacher. he is awesome excepr for the fact that hes a pushover and talks too much in class. one year i was in , ther was no tests, only ONE quiz. and now in grade 12 all w
He's AMAZING. He's so chill. You can eat in class. Things are usually never marked late. He marks super easy. He's so fun, amazing teacher. It's sad that he doesn't have kids. People like him need to
mr. neu is really helpful towards any problems that you may have in school or life. he is really straight forward and will be in your face if he needs to. he pushes us especially in gr 12! =D
so many A'S IN THE CLass it isn't even funny.. u either get A or C in the class xD
Best Teacher to have.Makes me laugh and pretty easy class so far
Not the easiest class, but you get to slack alot. He's also very funny and an entertaining teacher.
Mr Neu is hilarious and easy. Always fun to be in his classes.
He's actually not that bad , once you get used to him . He has this thing with a pointer stick and like to smack them on people's desk ahaha. But overrall , he's easy and will give you a good laugh :D
Daily breakfast includes a bowl of sarcasm. You'll LOVE him :)
Easy History teacher, a bit more picky about English. Very down-to-earth, laidback guy. Makes classes very entertaining and goes to great lengths to improve the education of his students.
He has a great sense of humour, makes his lessons entertaining, and best of all, his sarcastic jokes are hilarious. I enjoyed his classes very much. Marks wise, it isn't too hard.
He's a vampire! and says : "You evil little children." His classes are literally L.O.L.
hes really funny and hes great, but i think he can play favourites sometimes... he dosent even remember my name..
hes so funny in one of the classes he stood on a desk and yelled "IAM GOD AND YOU ARE MY PEOPLE"
1 of the most peculiar teachers I've ever been taught by, I'll miss the random thoughts & stories, though I started out in civ thinking it would stink, it turned out it was actually quite entertaining
Mr. neu is the best teacher ever, he's so funny and he's always willing to help out if you need anything. The only thing is that he has anger management some times and he throws desks.
Mr Neu and Mr Dube are the bestest teachers ever! They really make you want to go to class. Mr Neu better teach grade 9, instead of Gordy!
Mini 10 English Students here. Mr. Neu is a marvelous teacher. Probably the most thought provoking lessons. He is a true genius. He has interesting assignments.
foon-nai!always get a great laugh in his class.not extremely organized tho..tests sometimes postponed and then entirely eliminated...he's a fair (think balances) teacher!
nice teacher, marks way too hard for english, but a easy marker in civ
His civilizations class is, by far, one of the better classes I have ever been in. He is funny, though often distractingly so. Not afraid to laught at himself.
Mr. Neu is funny. But he Discriminates against Desks, He shouldn`t hit them, they never did anything to him, hahaha, overall he`s a nice guy and great teacher.
Mr. Neu makes class so relaxed. However, we learn to really love literature.
very inspiring teacher! makes you appreciate english! relly funny, yooh wudnt wanna miss his class! =-D
FUNNY !!!! he's kewl ... someone actually fell asleep in class and mr neu left him to sleep all through lunch ! lol!!!
very funny, but marks like, WAY too slow, but nonetheless, funny =)
He makes fun of students and calls'em Rugrats and stuff... YEAH yaou RUGRATS!
funny AND knows how to teach, you wouldn't want to skip his class


text:
International Journal of Mathematics and Mathematical Sciences
Volume 2012, Article ID 213876, 19 pages
Some Generalizations of Jungck's Fixed Point Theorem
1Departamento de Matemáticas, Universidad de Los Andes, Mérida 5101, Venezuela
2Departamento de Matemáticas, Pontificia Universidad Javeriana, Bogotá, Colombia
Received 28 March 2012; Revised 25 July 2012; Accepted 24 September 2012
Academic Editor: A. Zayed
Copyright © 2012 J. R. Morales and E. M. Rojas. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
We are going to generalize the Jungck's fixed point theorem for commuting mappings by mean of the concepts of altering distance functions and compatible pair of mappings, as well as, by using contractive inequalities of integral type and contractive inequalities depending on another function.


text:
BWW Special Feature: From The Park to Central Park
Sat in Scéalta Móra's spacious rehearsal room overlooking Vauxhall Park, Warde Street's director Jenny Eastop is partaking in an animated discussion with the show's cast on the role of terrorism in politics, one of the play's themes. Set in the aftermath of the 2005 London Bombings, Warde Street looks at what happens when you are unable to forgive and instead seek revenge, and at how politics and terrorism have become intrinsically linked in particular when it comes to election time.
Although it seems like both Eastop and the cast could talk for hours, the discussion has to be cut short as Jenny must dash to her next rehearsal. As well as rehearsing the transfer of Warde Street to Park 90 Park Theatre, Jenny Eastop is also mid rehearsals for the US tour of the West End smash Blithe Spirit starring Angela Lansbury on which she is associate director. Although rehearsing with a star studded cast for a big US tour may seem a world away from the off West End Park theatre for Jenny there is no difference. "In both shows I'm working with professional actors whose main drive is to discover what they can bring to the play and their roles. To tell the story of the play and take the audience with them." In Warde Street's case that story is one very close to Londoners hearts. I wondered if Jenny felt nervous about tackling a subject so close to home. "I'm gripped by that, not nervous. The memories of 7/7 whether you were directly involved or not, will have stayed with most Londoners and will bring up all sorts of emotions and memories. Damien hasn't rehashed old wounds as an easy emotional hook. Instead his script takes us on in time and makes us think about the impact of the ripples still being tragically felt."
Now it really is time for Jenny Eastop to dash off to the West End for rehearsals but before she goes I ask her to sum up Warde Street in three words,"gripping, thought-provoking and heart-breaking." With that Jenny jumps into the waiting cab and heads off to the wonderfully funny world of Blithe Spirit leaving the politically charged emotional world of Warde Street behind.
Warde Street runs at Park 90 Park Theatre from September 30th - October 26th, for more details and to book tickets please visit the shows website www.wardestreet.com. Blithe Spirit will begin its North American tour on December 9th at the Ahmanson Theatre in Los Angeles.


text:
4 thoughts on "Contact"
The website looks like an awesome resource and I can't wait to start using it. This reply is just to thank you and let you know it is apprecieated.
One minor possible enhancement might be to provide a filter for finding trails with no motorized traffic.
How do I become a Trail Angel?