Apollo: Details on Buyback Program
17/7/2009 10:05
Further to the Further to its announcement dated 30/4/2009 and the approval by the EGM dated 29/4/2009 of the new special resolution for the buyback of own share Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, Apollo Investment Fund Plc announces the details of the Buyback of Own Shares Program, in accordance with the provisions of the Companies’ Law Chapter 113:
- The Program will be effective from April 29, 2009 to April 27, 2010.
- The shares that can be acquired will be fully paid.
- The Company will be able to proceed with buyback of own shares from the Cyprus Stock Exchange with the net asset value per share as a maximum price and €0.40 as a minimum price. The minimum and maximum acquisition price will not exceed 5% of the average price of the share during the last five sessions prior to the purchase.
- The shares will be acquired either with private agreement or from the purchase.
- The shares must not be held more than 2 years.
It is reminded that the Extraordinary General Meeting held on 29/4/2009 approved a special resolution for the buyback of own shares as follows:
“That the Board of Directors be authorized to proceed to buyback of own shares, pursuant to the provisions of the Companies’ Law No 2 of 2000. 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 purchase. Shares acquired to be held for a maximum of two years”.
- The Program will be effective from April 29, 2009 to April 27, 2010.
- The shares that can be acquired will be fully paid.
- The Company will be able to proceed with buyback of own shares from the Cyprus Stock Exchange with the net asset value per share as a maximum price and €0.40 as a minimum price. The minimum and maximum acquisition price will not exceed 5% of the average price of the share during the last five sessions prior to the purchase.
- The shares will be acquired either with private agreement or from the purchase.
- The shares must not be held more than 2 years.
It is reminded that the Extraordinary General Meeting held on 29/4/2009 approved a special resolution for the buyback of own shares as follows:
“That the Board of Directors be authorized to proceed to buyback of own shares, pursuant to the provisions of the Companies’ Law No 2 of 2000. 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 purchase. Shares acquired to be held for a maximum of two years”.
