Application to SEC by Fr. Koulermos for squeeze out for acquisition of Telia shares
18/10/2011 9:47
Subject: Announcement on request for a squeeze out by Mr. Frixos Koulermos for the acquisition of the remaining shares of Telia Aqua Marine Public Limited
Further to the public offer by Mr. Frixos Koulermos for the acquisition of up to 100% of the issued share capital of Telia Aqua Marine Public Limited, which expired on October 3, 2011, Mr. Frixos Koulermos would like to inform the investing public that it has applied to the Cyprus Securities and Exchange Commission for the exercise of a squeeze out pursuant to article 36 of the Takeover Bid Law 2007, N41(I)/2007.
The participation of Mr. Frixos Koulermos exceeds 90% of the issued share capital of TLA after the expiry of the Public Offer. Specifically, at the date of this announcement, the participation of Mr. Frixos Koulermos stands at 96.38%, that is, 21,904,619 shares in the issued share capital of TLA. Therefore, the exercise of a squeeze out concerns the remaining 822,381 shares, that is, 3.62% of the issued share capital of TLA, which is not possessed by Mr. Frixos Koulermos at the date of this announcement.
The exchange that will be offered during the exercise of a squeeze out for the acquisition of the TLA titles that are not held by Mr. Frixos Koulermos equals to the offered consideration of the Public Offer, that is, €0.40 per TLA share cash.
Pursuant to article 36(3) of the Law, Mr. Frixos Koulermos has secured a certification by Bank of Cyprus Public Company Limited, which ensures that the price that he will be called to pay to the shareholders of TLA is available at Bank of Cyprus Public Company Limited and will remain available until the completion of the procedure.
Mr. Frixos Koulermos will release an announcement on the payment of the exchange and the transfer of the TLA titles pursuant to article 36(6) as soon as he secures the Commission’s decision.
Further to the public offer by Mr. Frixos Koulermos for the acquisition of up to 100% of the issued share capital of Telia Aqua Marine Public Limited, which expired on October 3, 2011, Mr. Frixos Koulermos would like to inform the investing public that it has applied to the Cyprus Securities and Exchange Commission for the exercise of a squeeze out pursuant to article 36 of the Takeover Bid Law 2007, N41(I)/2007.
The participation of Mr. Frixos Koulermos exceeds 90% of the issued share capital of TLA after the expiry of the Public Offer. Specifically, at the date of this announcement, the participation of Mr. Frixos Koulermos stands at 96.38%, that is, 21,904,619 shares in the issued share capital of TLA. Therefore, the exercise of a squeeze out concerns the remaining 822,381 shares, that is, 3.62% of the issued share capital of TLA, which is not possessed by Mr. Frixos Koulermos at the date of this announcement.
The exchange that will be offered during the exercise of a squeeze out for the acquisition of the TLA titles that are not held by Mr. Frixos Koulermos equals to the offered consideration of the Public Offer, that is, €0.40 per TLA share cash.
Pursuant to article 36(3) of the Law, Mr. Frixos Koulermos has secured a certification by Bank of Cyprus Public Company Limited, which ensures that the price that he will be called to pay to the shareholders of TLA is available at Bank of Cyprus Public Company Limited and will remain available until the completion of the procedure.
Mr. Frixos Koulermos will release an announcement on the payment of the exchange and the transfer of the TLA titles pursuant to article 36(6) as soon as he secures the Commission’s decision.
