Avacom: Interim Management Statement
Pursuant to the provisions of Article 11 of the Transparency Requirements Law 2007 (N.190(I) 2007), Avacom Public Company Ltd announces the most significant facts from 1/7/2008 to date:
1. At the meeting held on 31/8/2008, the Board of Directors decided to examine the possible sale of part or the entire investment in Ceilfloor Public Company Ltd after the new rejection of a special resolution on the capital increase by the minority.
2. At the meeting held on 6/9/2008, the Board of Directors decided to hold an Extraordinary General Meeting for the approval of a resolution on buyback.
3. On 30/9/2008, the Board of Directors decided to cancel the issue of Rights due to the drop in its share price below its nominal value and the subsequent unwillingness to exercise the Rights.
4. At the same meeting, the Board of Directors decided to amend the agreement for the acquisition of Tachidomi as follows:
“ Participation in Tachidomi Ltd with a stake of 15% instead of an acquisition of 100% with a right to participate for 12 months in the next capital increases or acquisition on the basis of the same terms. The exchange will be paid cash or shares of listed companies”.
1. At the meeting held on 31/8/2008, the Board of Directors decided to examine the possible sale of part or the entire investment in Ceilfloor Public Company Ltd after the new rejection of a special resolution on the capital increase by the minority.
2. At the meeting held on 6/9/2008, the Board of Directors decided to hold an Extraordinary General Meeting for the approval of a resolution on buyback.
3. On 30/9/2008, the Board of Directors decided to cancel the issue of Rights due to the drop in its share price below its nominal value and the subsequent unwillingness to exercise the Rights.
4. At the same meeting, the Board of Directors decided to amend the agreement for the acquisition of Tachidomi as follows:
“ Participation in Tachidomi Ltd with a stake of 15% instead of an acquisition of 100% with a right to participate for 12 months in the next capital increases or acquisition on the basis of the same terms. The exchange will be paid cash or shares of listed companies”.
