We propose that the net result of the financial year ending on 31 December 2003, an amount of 17,591,095 euros, be transferred to:
- Free Reserves, the amount of 15,000,000 euros, with the aim of being used to constitute statutory capital, as per Administrative Rule no. 1534-A/2002 of 23 December;
- Special Reserves - Investment, the amount of 2,591,095 euros.
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4. Proposed Application of Results
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