LEM: Free issue of Rights and Warrants – Ex right and Ex warrant on 6 August
31/7/2002 10:22
It is announced that the CSE Council has accepted the listing on the CSE of 33.050.000 Rights of Lemeco Silvex Industries Ltd, plus up to 13.220.000 2003/2005 Power Warrants. The issues take place based on the decisions by the Company Board of Directors dated September 6, 2001 and the Extraordinary General Assembly dated June 26, 2001.
Free issue of 33.050.000 Rights to shareholders listed on the Company’s registry on the 15th day following the date of permission by the CSE to publish the current Newsletter, that is on 16.8.2002, with the ratio of 1 right for each 1 share.
Company titles will trade on the CSE ex-rights (not-including rights) 7 days prior to the archive day, according to CSE regulations, that is on 6.8.2002.
Important Dates:
--The Rights certificates will be mailed to beneficiaries on 23.8.2002, while trading on the CSE will commence on 6.9.2002. A copy of the Newsletter will be available at our offices in Nicosia, Lemesos, Pafos and Paralimni starting 23.8.2002.
--During the period from 6.9.2002 to 26.9.2002, the nil-paid rights will be traded through the CSE.
--The last day for exercising the rights will be 9.10.2002.
--The exercise price is 10 cents for each right to be converted to a fully paid share of nominal value 10 cents each.
Free issue of up to 13.220.000 Power Warrants 2003/2005 with the terms outlined below:
--One power warrant will be given for every 5 current shares to those shareholders in the registry on the 15th day following the date of permission by the CSE to publish the current Newsletter, that is on 16.8.2002, plus 1 power warrant for every 5 shares to those who will become shareholders after exercising the rights.
--The Power warrants will be mailed together with the ordinary shares that will result from the exercising on 16.10.2002.
--The trading in the Warrants will commence on the same day as the trading of shares that will result from the exercise of rights on 31.10.2002.
--The warrants give the bearer the right to exercise them from September 1 to September 15 each year from 2003 to 2005 (inclusive) at the price of 10 cents per share. The main characteristic of power warrants is that the number of shares that their bearer will be eligible to acquire will not be fixed but will depend on the difference between the share’s price on purchase and the warrant’s exercise price. Therefore, an increase in the share’s price will automatically result to an increase in the number of shares that the power warrant bearer will be able to acquire.
The Company’s approved Share Capital is CYP 25.000.000 and is divided into 250.000.000 ordinary shares of 10 cents each.
The Issued Share Capital before the present issue is CYP 3.305.000 and is divided into 33.050.000 ordinary shares of 10 cents each.
Free issue of 33.050.000 Rights to shareholders listed on the Company’s registry on the 15th day following the date of permission by the CSE to publish the current Newsletter, that is on 16.8.2002, with the ratio of 1 right for each 1 share.
Company titles will trade on the CSE ex-rights (not-including rights) 7 days prior to the archive day, according to CSE regulations, that is on 6.8.2002.
Important Dates:
--The Rights certificates will be mailed to beneficiaries on 23.8.2002, while trading on the CSE will commence on 6.9.2002. A copy of the Newsletter will be available at our offices in Nicosia, Lemesos, Pafos and Paralimni starting 23.8.2002.
--During the period from 6.9.2002 to 26.9.2002, the nil-paid rights will be traded through the CSE.
--The last day for exercising the rights will be 9.10.2002.
--The exercise price is 10 cents for each right to be converted to a fully paid share of nominal value 10 cents each.
Free issue of up to 13.220.000 Power Warrants 2003/2005 with the terms outlined below:
--One power warrant will be given for every 5 current shares to those shareholders in the registry on the 15th day following the date of permission by the CSE to publish the current Newsletter, that is on 16.8.2002, plus 1 power warrant for every 5 shares to those who will become shareholders after exercising the rights.
--The Power warrants will be mailed together with the ordinary shares that will result from the exercising on 16.10.2002.
--The trading in the Warrants will commence on the same day as the trading of shares that will result from the exercise of rights on 31.10.2002.
--The warrants give the bearer the right to exercise them from September 1 to September 15 each year from 2003 to 2005 (inclusive) at the price of 10 cents per share. The main characteristic of power warrants is that the number of shares that their bearer will be eligible to acquire will not be fixed but will depend on the difference between the share’s price on purchase and the warrant’s exercise price. Therefore, an increase in the share’s price will automatically result to an increase in the number of shares that the power warrant bearer will be able to acquire.
The Company’s approved Share Capital is CYP 25.000.000 and is divided into 250.000.000 ordinary shares of 10 cents each.
The Issued Share Capital before the present issue is CYP 3.305.000 and is divided into 33.050.000 ordinary shares of 10 cents each.
