Modestou: EGM approved redenomination of capital in euros and capital increase
24/2/2009 12:31
Modestou Sound & Vision Public Company Ltd announces that the Extraordinary General Meeting held on 24/2/2009 at 11.00 am at the Company’s registered office, 2 Salaminos, 1st floor, Nicosia, approved unanimously the following ordinary resolution for the redenomination of the share capital in euros with the simultaneous increase in its share capital and its issued capital.
Ordinary resolution
“In order to comply with the Law on the Adoption of the Euro 2007 (N.33(I)/2007) from December 31, 2008:
a) The Company’s share capital be redenominated from Cyprus pounds in euros
b) The Company’s nominal value be redenominated and increased from £0.08 to €0.14.
c) The Company’s nominal capital be redenominated from £4,000,000 divided into 50,000,000 shares of nominal value £0.08each to €7,000,000 divided into 50,000,000 shares of nominal value €0.14 each.
d) The Company’s issued share capital be redenominated and increased from £1,192,000 to €2,086,000 divided into 14,900,000 shares of nominal value €0.14 each and that this increase be carried out with the capitalization of part of the reserve”.
Ordinary resolution
“In order to comply with the Law on the Adoption of the Euro 2007 (N.33(I)/2007) from December 31, 2008:
a) The Company’s share capital be redenominated from Cyprus pounds in euros
b) The Company’s nominal value be redenominated and increased from £0.08 to €0.14.
c) The Company’s nominal capital be redenominated from £4,000,000 divided into 50,000,000 shares of nominal value £0.08each to €7,000,000 divided into 50,000,000 shares of nominal value €0.14 each.
d) The Company’s issued share capital be redenominated and increased from £1,192,000 to €2,086,000 divided into 14,900,000 shares of nominal value €0.14 each and that this increase be carried out with the capitalization of part of the reserve”.
