SEC approved squeeze out by F. Koulermos to Telia
31/10/2011 10:15
Mr. Frixos Koulermos would like to inform the investing public that the Cyprus Securities and Exchange Commission approved the request for a squeeze out of the shares of Telia Aqua Marine Public Limited, pursuant to article 36(5) of the Takeover Bid Law 2007 (N41(I)/2007.
The participation of Mr. Koulermos stands at 96.38%, that is, 21,905,341 shares in the issued share capital of TLA. Therefore, the exercise of a squeeze out concerns the remaining 821,659 shares or 3.62% in the issued share capital of TLA, which are not held by Mr. Frixos Koulermos at the date of this announcement.
The consideration that will be offered during the exercise of a squeeze out for the acquisition of the TLA shares that are not held by Mr. Koulermos equals to the offered consideration of the Public Offer, which is €0.40 per TLA share in cash.
Pursuant to article 36(5), Mr. Frixos Koulermos will inform the shareholders of TLA in writing and will make a provision for the payment of the consideration to the shareholders and the transfer of the remaining TLA shares in his name.
The participation of Mr. Koulermos stands at 96.38%, that is, 21,905,341 shares in the issued share capital of TLA. Therefore, the exercise of a squeeze out concerns the remaining 821,659 shares or 3.62% in the issued share capital of TLA, which are not held by Mr. Frixos Koulermos at the date of this announcement.
The consideration that will be offered during the exercise of a squeeze out for the acquisition of the TLA shares that are not held by Mr. Koulermos equals to the offered consideration of the Public Offer, which is €0.40 per TLA share in cash.
Pursuant to article 36(5), Mr. Frixos Koulermos will inform the shareholders of TLA in writing and will make a provision for the payment of the consideration to the shareholders and the transfer of the remaining TLA shares in his name.
