Lemeco acquires tobacco industry Explosal Trading
10/12/2007 10:08
At a meeting held on December 7, 2007, the Board of Directors of Lemeco Silvex Industries Public Company Limited decided the following:
First, it decided to proceed with the acquisition of Explosal Trading Ltd, the only tobacco industry in Cyprus.
Second, the legal and financial audit will be undertaken by professionals, so that the Company protects the shareholders’ interests.
Third, Messrs. G. Constantinou and I. Constantinides are authorized to assign to professionals the evaluation of Explosal Trading and to negotiate the final price that will be offered on behalf of the Company.
Fourth, the price for the acquisition of the Company will be offered via the issue of new shares at an Extraordinary General Meeting to take place in the next few days.
The Board of Directors will inform the investing public after the completion of the legal and financial audit and the determination of the acquisition price.
First, it decided to proceed with the acquisition of Explosal Trading Ltd, the only tobacco industry in Cyprus.
Second, the legal and financial audit will be undertaken by professionals, so that the Company protects the shareholders’ interests.
Third, Messrs. G. Constantinou and I. Constantinides are authorized to assign to professionals the evaluation of Explosal Trading and to negotiate the final price that will be offered on behalf of the Company.
Fourth, the price for the acquisition of the Company will be offered via the issue of new shares at an Extraordinary General Meeting to take place in the next few days.
The Board of Directors will inform the investing public after the completion of the legal and financial audit and the determination of the acquisition price.