Finikas: Corrections on announcement for Rights and warrants
Further to our announcement released yesterday on the issue of Rights, we wish to proceed with the following corrections:
Issue of Rights
Issue of 13,204,527 Rights to the existing shareholders of Finikas Ammochostou Plc to the ratio of 1 Right for every 1 share held. For every 10 Rights exercised, 1 fully paid share with an exercise price of 20 cents (€0.3417) will result.
Issue of warrants
For every 10 Rights exercised, 1 warrant 2009/2010 will be allocated with an exercise price of 20 cents (€0.3417) each and will be exercisable on November 1 – 19, 2009 or 2010 (issue and allocation of up to 1,320,453 warrants 2009 – 2010). For every warrant 2009/2010 exercised, 2 warrants 2011/2012 will be allocated gratis with an exercise price of 20 cents and will be exercisable on November 1 – 19, 2011 or 2012 (issue and allocation of up to 2,640,906 additional warrants 2011/2012).
New capital
The capital that will result from the exercise of the aforementioned Rights and Warrants will be used for the Company’s investment policy. According to the Informative Memorandum for the expansion of the Company’s activities, it intended to expand to other sectors of investments, such as the property investment in Cyprus and Romania.
Prospectus
We also wish to inform the investing public that the Company is currently preparing the Prospectus on the issue above, which will be submitted to the Securities and Exchange Commission. The terms of the issues above are subject to the Prospectus approval.
Issue of Rights
Issue of 13,204,527 Rights to the existing shareholders of Finikas Ammochostou Plc to the ratio of 1 Right for every 1 share held. For every 10 Rights exercised, 1 fully paid share with an exercise price of 20 cents (€0.3417) will result.
Issue of warrants
For every 10 Rights exercised, 1 warrant 2009/2010 will be allocated with an exercise price of 20 cents (€0.3417) each and will be exercisable on November 1 – 19, 2009 or 2010 (issue and allocation of up to 1,320,453 warrants 2009 – 2010). For every warrant 2009/2010 exercised, 2 warrants 2011/2012 will be allocated gratis with an exercise price of 20 cents and will be exercisable on November 1 – 19, 2011 or 2012 (issue and allocation of up to 2,640,906 additional warrants 2011/2012).
New capital
The capital that will result from the exercise of the aforementioned Rights and Warrants will be used for the Company’s investment policy. According to the Informative Memorandum for the expansion of the Company’s activities, it intended to expand to other sectors of investments, such as the property investment in Cyprus and Romania.
Prospectus
We also wish to inform the investing public that the Company is currently preparing the Prospectus on the issue above, which will be submitted to the Securities and Exchange Commission. The terms of the issues above are subject to the Prospectus approval.
