Grenoble, March 27, 2013
The company Dolphin Integration announces the return to normal, terminating a period of uncertainty.
1) About the operating continuity
The board of directors has met again on March 25, 2013 and has been able to acknowledge (i) the attainment of financial forecasts, (ii) the actual cashing-in of the Research Tax Credit to the amount of M€ 1.2 and (iii) the progress on actions to benefit from public subsidies, which have recently been performed.
The corporate commercial activity has been sustained, enabling to meet the deadlines with respect to public creditors and to significantly reduce the lag-time of payments to suppliers. The sales turnover expected for the semester to close on March 31, 2013 shall be, per the latest corporate forecasts, noticeably increased with respect to that on March 31, 2012. The procedures toward the increase of working capital or for raising loans are in process and their pursuit is awaiting the formal approval of financial statements.
At this point, the operating continuity of the company and the realization of its cash flow plan thus rest essentially on the attainment of the sales budget over 2013, while preserving the banks’ committed support over the first semester of the calendar year.
Taking these developments into account, the company informs its shareholders that the board of directors has been in a position to proceed on March 25, 2013 to the closing of the annual accounts, corporate and consolidated, for the fiscal year ended on September 30, 2012. The statutory auditors shall deliver their reports on the accounts thus closed with interesting observations but without any reservation. Their reports shall be put at the disposal of shareholders in view of their new assembly called to convene on May 2, 2013.
2) Call to the mixed General Assembly
The company therefore informs shareholders that the new mixed general assembly shall be held on Thursday May 2, 2013, at 5:30 pm, at its headquarters on 39 avenue du Granier, Meylan (38240).
The company specifies that an ordinance for interim relief has been received on March 20 from the tribunal of commerce of Grenoble for a waiver to the obligation of approving the financial statements within six months after the closing of a fiscal year.
The corporate management besides shall propose to shareholders to vote on a resolution to the effect of delegating to the board of directors for proceeding to the potential buy-back of corporate shares.
The following agenda has been set by the board of directors.
Of the competency of the ordinary general assembly
- Presentation of the management report of the board of directors on the financial statements, individual for the SA and consolidated for the Dolphin group
- Presentation of the report on directors’ compensations
- Presentation of the general report on the annual financial statements and of the report on the consolidated financial statements of statutory auditors
- Assignment of the fiscal year result
- Approval of the financial statements of the fiscal year closed on September 30, 2012 for the SA
- Approval of the financial statements of the fiscal year closed on September 30, 2012 for the consolidated group
Of the competency of the extraordinary general assembly
- Authorization of the company to buy-back its shares.
The announcement of assembly serving as convocation and proposing the text of resolutions is going to be published in the “Bulletin des Annonces Légales Obligatoires” (BALO) on March 27, 2013.
The documents and information related to this assembly shall be held at the disposal of shareholders and may be consulted on the Internet web-site of the company.
For the board of directors, the Executive Chairman.
About Dolphin Integration
The company occupies a key position with sustainable growth in the strategic and deverticalized industry of design for Microelectronics.
DOLPHIN Integration SA with social Capital of 1,295,120 € – www.dolphin.fr – ISIN: FR0004022754/ ALDOL – Bloomberg: ALDOL FP – Reuters: ALDOL.PA – ICB 9576. Semiconductors.
Contacts:
Michel DEPEYROT, Executive Chairman – myd@dolphin.fr
ATOUT CAPITAL, Listing Sponsor,
Cedric BEUDIN, (33) 1 56 69 61 83 – cedric.beudin@atoutcapital.com
