SYSKO IF NYMOS COMMERCIAL AND INDUSTRIAL COMPANY SYSTIMAT N

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SYSKO IF NYMOS COMMERCIAL AND INDUSTRIAL COMPANY SYSTIMAT N Powered By Docstoc
					SYSCO ANONYMOUS COMMERCIAL AND INDUSTRIAL COMPANY OF
ORGANISATIONAL SYSTEMS AND INFORMATION TECHNOLOGY, with the
registered name SYSCO SA.

Participation Percentage                            80%

Purchase Price                       Drs. 49.920.000               €   146.500,37
Increase in Share-Capital            Drs. 54.440.000               €   159.765,22
Net Equity                           Drs. 107.151.658              €   314.458,28
Sales of the period                  Drs. 156.296.665              €   458.684,27
Profit before taxes                  Drs. 12.735.347               €    37.374,46

Establishment - Duration
The Company was established on April 22, 1985 under the name Consulting on
Computerization, SYSCO Ltd., The Company was converted to an S.A. on December
8, 2000. The Duration of the company is until 22/12/2030.

Prospects & Goals
The Company’s goals are as follows:
The development of sales and generally the trade of software programs for
computers.
Computer and other related equipment trade
Representation of the use of foreign firms
Training services for computers
The computerized data processing for third parties.

Head Offices
The Company’s Head Offices are located at the Municipality of Nea Smirni on 4,
Efessou Street.

Capital – Shareholders
The Company’s founders were:
a)    Andreas Apostolos Maragos
b)    Constantine Ioannis Aggelis
c)    Sultana Lefkarou
d)    Kyriaki Stylianos Iordani

The Company’s initial capital was 400.000 Drs. divided into 40 shares of the Company
at 10,000 Drs. each.
Before the buy out by INFORMER SA the members were:
                                  Share              Capital
Harilaos Filaretopoulos           120                1.200.000
Protostat Investment Limited      480                4.800.000
                                   _________________________
                                   600             6.000.000

After the Company’s participation and in accordance with the notary act 37320 dated
29/06/200 the shareholders are the following:

INFORMER S.A.             company shares 480                       percentage 80%
Harilaos Filaretopoulos   company shares 120                       percentage 20%

According to the Company’s General Assembly on August 2nd , 2000 the capitalisation
of reserve funds at 27.600.000 Drs. (twenty-seven million six-hundred thousand) was
decided and as a result the Company’s capital was increased by 27.000.000 Drs.
(twenty-seven million) paid in cash.
After the above decision, the Company’s capital reached the amount of 60.600.000
Drs. (sixty million six-hundred thousand) divided into 6612 company shares, in which
INFORMER’s participation was with 4848 company shares and 80% percentage and
Harilaos Filaretopoulos with 1764 company shares and 20% percentage.

On 17.11.2000 the Assembly of partners unanimously decided to transform the
Company to an S.A. according to paragraph 2 article 3 of N2166/1993. For this
purpose the auditor/ inspector Antonis Papadopoulos Reg. No SOEL 11741 was
appointed to confirm the book value of the assets based on the financial statements of
the transformation dated 30.11.2000.

With the public notary act 37710 on December 8, 2000 of the Notary of Athens
Aristidis Athanassiou Dragios, the transformation of the company from a limited
responsibility company to an S.A. with the name “SYSCO S.A. TRADE AND
INDUSTRIAL COMPANY OF ORGANISATIONAL SYSTEMS AND INFORMATION
TECHNOLOGY” with the registered name “SYSCO SA”, with a share-hold capital at
100.000.000 Drs. (one-hundred million), divided into 400.000 anonymous shares of
nominal value at 250 Drs. per share, was materealized. The shareholders are:

                                      Shares         Percentage         Value
Harilaos Leonidas Filaretopoulos      80.000           20%           20.000.000
INFORMER S.A.                        320.000           80%           80.000.000
                                     400.000          100%          100.000.000

The increase of the capital from 60.600.000 Drs. to 100.000.000 Drs. occurred by the
payment in cash in correspondence to the share percentage. Harilaos Filaretopoulos
paid 7.880.000 Drs. (seven million eight-hundred and eighty thousand) and
INFORMER SA paid 31.520.000 Drs (thirty-one million five-hundred and twenty
thousand).
    Board of Directors
    Harilaos Filaretopoulos was the Company’s Administrator before the transformation to
    an S.A. Company . After the transformation and in accordance to the public notary act
    37710 on December 8, 2000 of Aristeidis Athanasiou Drayiou and the decision of the
    Board of Director of the company SYSCO S.A. TRADE AND INDUSTRY COMPANY
    OF ORGANISATIONAL SYSTEM AND INFORMATION TECHNOLOGY on December
    28, 2000 and the Board of Directors was assembled as follows :

    Harilaos Leonidas Filaretopoulos                President of the Board of Directors
    Constantinos Theologos Ioannidis                Vice-President and Managing Director
    George Dimitris Karidis                         Director
    Zafiris Constantinos Keramidas                  Director
    Triantafyllia Michael Vamvaka                   Director


    Assessment of Purchasing Price

    The buying price was fixed firstly according to the Law 2238/1994 and Law 2753/1999
    for the taxation of the surplus value from dividents and shares. With the submitted
    declaration (ΥΑ ΠΟΛ. 1233/2-12-1999) to the Tax Authorities of N. Smirni the value of
    the shares was calculated for Drs. 47.514.720 and conclusively the amount of Drs.
    49.920.000 was paid.

    Prospects and repercussions
    The Company exclusively represents the American House (USA) HIS Corporation in
    Greece and has introduced its new products in the Greek Hotel Market.

-   HIS LODGINGTOUQUCH FRONT OFFICE
-   HIS LODGINGTOUCH CENTRAL RESERVATION & INFORMATION SYSTEMS
-   EPICOUROS TOUCHPOINT OF SALES
-   ESP SALES CATERING
-   OPTIMIED MANAGEMENT

    Included in its clientele are the approximately 100 large hotel units with long-term
    contracts. Indicatively we mention the following:
    Athens Intercontinental
    Athens Park
    Elounda Beach & Elounta Bay
    Nafplia Palace
    Divani Caravel
    Divani Appolon
    Colossos Beach

    Also included in its clientele are the large tourist offices/ travel agencies like Manos
    Travel, Heronia Travel, Carlson Wagonlit Travel.
We believe that SYSCO SA has the potential to gain a large part of the hotel business
as one of the main suppliers of Total Hotel Solutions in view of the Olympic Games in
2004 where there will be an increase in hotel units in Attica (about 10.000 new rooms)
and throughout Greece.

In order to confirm the above predictions for 2001 the following projects are in
process:
   a) The computerization of PORTO CARRAS complex (3 hotels), Hotel Divani
      Corfu, Larissa, Kalambaka in Meteora, the Aphrodite Beach Hotel, Pallazo
      Porto Platarias in Crete and the Athens Grand Hotel in Athens, and
   b) Have been signed and are under negotiations the following hotels:
      Grand Lagoniss Resort (Mantonakis Group), Panorama Hotel (Kypriotis Group
      in Kos), Andromeda Athens Andromeda Thessaloniki (Dimitrakopoulos Group),
      Athinais Conference & Banqueting Complex (Mamidakis Group)

The forecast for 2002 is anticipated at 600.000.000 Drs.




FINANCIAL STATEMENTS (in millions of Drs)                   1999                2000
ASSETS
First Establishment                                      -          52
Minus Depreciation                                       -           1
Net Preliminary Expenses                                 -          51
Intangible Assets                                        7          19
Minus Depreciation                                       1           5
Net Intangible Assets                                    6          14
Tangible Assets                                         20          27
Minus Depreciation                                      10          14
Net Tangible Assets                                     10          13
Total Net Assets                                        16          27
Long Term Receivables                                    4           1
Total Fixed Assets                                      20          28
Current Assets                                          66         156
Debit Memo Accounts                                      -           1
Total Assets                                            86         236

LIABILITIES
Net Equity                                              33         106
Provisions                                               -           5
Long Term Liabilities                                    -           -
Total Current Liabilities                               53         125
Credit Memo Accounts                                     -           1
Total Liabilities                                       86         236

BOOK VALUE OF SHARE                                  1.650         265

PUBLISHED RESULTS
Turnover :
Sales of Merchandise                                    42          77
Services                                                97          79
Total Turnover                                         134         156
Gross Profit
Other Income                                             -           -
Total                                                  134         156
Operating Profit                                        30          19
Profit before Interest, Taxes, Depreciation             34          22
Profit before Taxes, Depreciation                       34          22
Profit Before Taxes                                     30          13
Profit After Taxes                                      20           6


The Company was converted from LTD. to S.A. on December 8, 2000.
The Financial Year 2000 includes facts from the LTD. and S.A.

				
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