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ICA's Annual Shareholders Meeting elects four new members of the Board of Directors and approves modification to 2015 results
MEXICO CITY, May 02, 2016 (GLOBE NEWSWIRE) -- (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.
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.
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
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