ICA's Annual Shareholders Meeting elects four new members of the Board of Directors and approves modification to 2015 results
May 02 2016 - 6:00AM
MEXICO CITY, May 02, 2016 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA),
announced today that its Annual General Shareholders' Meeting, held
on April 29, 2016, elected four new directors, including one
independent director, and elected the Chairs of the Board
Committees. In addition, the Shareholders' Meeting approved the
audited financial statements that reported a consolidated net loss
of Ps. 19,764 million for 2015, an increase of Ps. 5,931 million as
compared to the preliminary full-year results reported on March 30,
2016.
The Board of Directors has nine members, including
five independent directors. The Chairs and all the members of
the Board Committees are independent directors.
Board
Member |
Position |
1. Bernardo Quintana
Isaac |
Chairman/Patrimonial |
2. Luis Fernando
Zárate Rocha |
Patrimonial |
3. Sergio Fernando
Montaño León |
Patrimonial |
4. Guadalupe Phillips
Margain |
Patrimonial |
5. Carlos Guzmán
Bofill |
Independent |
6. Elsa Beatriz García
Bojorges |
Independent |
7. Bernardo Sepúlveda
Amor |
Independent |
8. Jorge Ricardo
Gutiérrez Muñoz |
Independent |
9. Luis Guillermo
Zazueta Domínguez |
Independent |
The new patrimonial board members are Luis
Fernando Zárate, Sergio Fernando Montaño León and Guadalupe
Phillips Margain. The new independent board member is Luis
Guillermo Zazueta Domínguez. Their biographies are available on the
Company's website.
The Shareholders' Meeting elected the following
Chairs of the Board committees:
In regards the audited financial statements approved by the
Shareholders' Meeting, the increased loss compared to the
preliminary results resulted almost entirely from the write-off of
deferred tax assets. The Company retains the right to amortize
these losses over the following six to 10 years, depending on
future results.
The principal differences between the 2015 results
as originally reported on March 30, 2016 and the audited financial
statements are shown below:
The income statement and balance sheet as approved
by the Shareholders' Meeting are attached.
This press release contains
projections or other forward-looking statements related to ICA that
reflect ICA's current expectations or beliefs concerning future
events. Such forward-looking statements are subject to various
risks and uncertainties and may differ materially from actual
results or events due to important factors such as changes in
general economic, business or political or other conditions in
Mexico, Latin America or elsewhere, changes in capital markets in
general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws
affecting ICA's businesses, increased costs, unanticipated
increases in financing and other costs or the inability to obtain
additional debt or equity financing on attractive terms and other
factors set forth in ICA's most recent filing on Form 20-F and in
any filing or submission ICA has made with the SEC subsequent to
its most recent filing on Form 20-F. All forward-looking statements
are based on information available to ICA on the date hereof, and
ICA assumes no obligation to update such statements.
Empresas ICA, S.A.B. de C.V. is
Mexico's largest infrastructure company. ICA carries out
large-scale civil and industrial construction projects and operates
a portfolio of long-term assets, including airports, toll roads,
water systems, and real estate. Founded in 1947, lCA is listed on
the Mexican and New York Stock exchanges. For more
information, visit ir.ica.mx.
For more information, please contact:
Gabriela Orozco
gabriela.orozco@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3012
Pablo García
pablo.garcia@ica.mx
Chief Financial Officer
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
HUG#2008839