Final decision by F. Koulermos to submit a PO to Telia
8/8/2011 10:42
I wish to inform you that Frixos Koulermos (the Offeror) decided to announce, pursuant to article 6(2) of the Takeover Bid Law 2007, N41(I)/2007, his final decision to submit a public offer for the acquisition of up to 100% of the total issued share capital of Telia Acqua Marine Public Ltd in cash, in which he holds the position of Chairman.
The total issued capital of Telia stands at 22,727,000 shares of nominal value €0.34 each.
The Offeror already holds directly 50.82% in the issued share capital of TLA. The persons acting in agreement with the Offeror, his daughters, Eleni Larcou and Elli Koulermou Hassikou, hold 8.47% each in the issued share capital of the Company.
Therefore, the Offeror together with the persons acting in agreement with him hold 67.76%.
Based on the percentages that the Offeror has in the share capital of TLA at the date of this announcement, the Public Offer is already regarded as successful based on Article 10(1) of the Law and there is no minimum percentage that must be acquired so that it s regarded as successful. The only condition is the approval of the Public Offer Document by the SEC, which will be submitted to the Commission within 12 business days from the date of this announcement.
The proposed consideration that will be offered for each TLA share stands at €0.40 cash, which will be paid cash to the beneficiaries who will accept the Public Offer. The Offeror has already made provisions for the payment of the sum concerning the Public Offer with all the necessary arrangements from a bank.
Mrs. Irene Larcou and Mrs. Elli Koulermou Hassikou (daughters of the Offeror) have irrevocably committed to allocate the shares they hold in TLA, 16.94% or 3,850,000 shares (from 1,925,000 shares each).
Further information on the Public Offer will be included in the Document, which will be prepared pursuant to the provisions of the Law and the Directive D.P.E 3/2007 of the Commission in relation to the content of the Public Offer Document and will be submitted to the SEC within 12 business days.
This announcement is released pursuant to article 6 of the Law and the Directive D.P.E 1/2007 of the SEC.
Sharelink Securities and Financial Services Limited acts as Consultant of the Public Offer.
The total issued capital of Telia stands at 22,727,000 shares of nominal value €0.34 each.
The Offeror already holds directly 50.82% in the issued share capital of TLA. The persons acting in agreement with the Offeror, his daughters, Eleni Larcou and Elli Koulermou Hassikou, hold 8.47% each in the issued share capital of the Company.
Therefore, the Offeror together with the persons acting in agreement with him hold 67.76%.
Based on the percentages that the Offeror has in the share capital of TLA at the date of this announcement, the Public Offer is already regarded as successful based on Article 10(1) of the Law and there is no minimum percentage that must be acquired so that it s regarded as successful. The only condition is the approval of the Public Offer Document by the SEC, which will be submitted to the Commission within 12 business days from the date of this announcement.
The proposed consideration that will be offered for each TLA share stands at €0.40 cash, which will be paid cash to the beneficiaries who will accept the Public Offer. The Offeror has already made provisions for the payment of the sum concerning the Public Offer with all the necessary arrangements from a bank.
Mrs. Irene Larcou and Mrs. Elli Koulermou Hassikou (daughters of the Offeror) have irrevocably committed to allocate the shares they hold in TLA, 16.94% or 3,850,000 shares (from 1,925,000 shares each).
Further information on the Public Offer will be included in the Document, which will be prepared pursuant to the provisions of the Law and the Directive D.P.E 3/2007 of the Commission in relation to the content of the Public Offer Document and will be submitted to the SEC within 12 business days.
This announcement is released pursuant to article 6 of the Law and the Directive D.P.E 1/2007 of the SEC.
Sharelink Securities and Financial Services Limited acts as Consultant of the Public Offer.
