Lemeco-Silvex Buy-Back & Transfer to Investment Companies
15/5/2001 8:32
The Board of Lemeco Silvex Industries Ltd. announced that during its meeting of the 23 May 2001, it will examine the final results of the company for the year 2000 and determine a date for the AGM. It will also decide on the payments or otherwise of dividends and will consider the possibility of issuance of rights.
Further an EGM will be set to seek approval for the Board to proceed with acquisition of own shares of the company over the next twelve months, not exceeding 10% of the issued share capital of the company, the purchase price of which not to exceed 5% of the average market price of shares traded over the five days preceding such acquisition. Shares to be held for no longer than two years from thei purchase.
To propose that the company be transferred from the Industrial section of the CSE to the Investment companies section.
Decisions of the Board will be announced prior the commencement of the trading session of the 24 May 2001.
Further an EGM will be set to seek approval for the Board to proceed with acquisition of own shares of the company over the next twelve months, not exceeding 10% of the issued share capital of the company, the purchase price of which not to exceed 5% of the average market price of shares traded over the five days preceding such acquisition. Shares to be held for no longer than two years from thei purchase.
To propose that the company be transferred from the Industrial section of the CSE to the Investment companies section.
Decisions of the Board will be announced prior the commencement of the trading session of the 24 May 2001.
