Application of Aspis AEGA-Commercial Value for acquisition of majority stake in Universal Bank
Pursuant to Decision EK 5/204 Article 4 paragraph 1d, Aspis Pronoia AEGA would like to inform investors that on July 31, 2006 it submitted an application together with Commercial Value SA to the Central Bank of Cyprus requesting the latter’s approval for the acquisition of a minimum 50% plus 1 share of Universal Savings Bank PLC.
The administration of Aspis Pronoia AEGA informed the Managing Director of Universal Life, which holds 61% of Universal Savings Bank PLC, on the submission of the application.
Universal Savings Bank PLC is listed in the Cyprus Stock Exchange and it has seventeen branches nationwide.
Pursuant to the CSE and SEC Regulations, the submission of a public offer to the shareholders of the Company is required.
Aspis Pronoia AEGA will inform the investing public on further developments.
The administration of Aspis Pronoia AEGA informed the Managing Director of Universal Life, which holds 61% of Universal Savings Bank PLC, on the submission of the application.
Universal Savings Bank PLC is listed in the Cyprus Stock Exchange and it has seventeen branches nationwide.
Pursuant to the CSE and SEC Regulations, the submission of a public offer to the shareholders of the Company is required.
Aspis Pronoia AEGA will inform the investing public on further developments.
