C.T.O: EGM approved buyback
16/12/2009 9:25
C.T.O. Public Company Ltd would like to inform the investing public that the Extraordinary General Meeting held on December 15, 2009 at 12.00 pm at the Company’s registered office, Free Trade Zone, Larnaca approved the following special resolution:
Special Resolution
“That the Board of Directors be authorized to proceed to buyback of own shares, pursuant to the provisions of article 57A of the Companies’ Law Chapter 113 (as amended). The minimum and maximum acquisition price of shares will not exceed 5% of the average market value of shares over the last five trading sessions prior to such a purchase. The Company will be able to acquire the maximum number of shares provided by the Law over the period of 12 months following endorsement of the said resolution. Shares can be acquired either by private agreement or by the market. Shares acquired to be held for a maximum of two years”.
Special Resolution
“That the Board of Directors be authorized to proceed to buyback of own shares, pursuant to the provisions of article 57A of the Companies’ Law Chapter 113 (as amended). The minimum and maximum acquisition price of shares will not exceed 5% of the average market value of shares over the last five trading sessions prior to such a purchase. The Company will be able to acquire the maximum number of shares provided by the Law over the period of 12 months following endorsement of the said resolution. Shares can be acquired either by private agreement or by the market. Shares acquired to be held for a maximum of two years”.
