As it was previously announced in recent releases of ASV Voices, American School of Valencia held the Annual Shareholders Meeting on Wednesday, February 27, 2019. Parents who are shareholders of Colegio Hispano Norteamericano were called to attend and the agenda included, as usual, the study and approval of the Balance Sheet, the Annual Report, the Profit and Loss Statement, the Change in Net Worth Statement and the Cash-flow Statement for the year ending on August 31, 2018, along with the Auditors’ Report and the corresponding management report in accordance with the results.
The meeting started at 19:00 h having enough quorum of shareholders (present or delegating their vote) and a representative of BDO, the audit firm, was also invited to attend.
Mr. Ildefonso Segura, Financial Director at ASV, presented the content of the Management Report and other documents under study, which summarize the economic and financial situation of ASV during the 2017-2018 academic year. The audit report was presented without reservations (clean report) as it has been usual every year. Together, these documents represent the true image of the assets and the financial situation of the ASV as of August 31, 2018, as well as the results and cash flows achieved at the end of that year.
The report accounts were approved unanimously. As questions were allowed during the presentation, after voting the session finished.
We thank the shareholders for their attendance and we encourage families to participate in upcoming shareholders’ meetings.