Petsas: Cancellation of previous resolution – EGM approved redenomination of capital
31/7/2008 9:25
Andreas Petsas and Sons Public Ltd announces that the Extraordinary General Meeting held on July 30, 2008 at 15.30 approved the following:
1. Cancelled the ordinary resolution approved by the Extraordinary General Meeting dated June 9, 2008, after explaining to the shareholders that the resolution cannot be adopted because it conflict with the provisions of the Adoption of the Euro Law 2007 (N. 33 (I) 2007).
2. Approved the following ordinary resolution:
In order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
a. The nominal capital of the Company, which on January 1, 2008 stood at £12,000,000 divided into 60,000,000 ordinary shares of £0.20 each be redenominated from January 1, 2008 to €20,400,000 divided into 60,000,000 ordinary shares of €0.34 each.
b. Each issued share of nominal value £0.20 each be redenominated into €0.34 each.
c. The issued capital of the Company, which on January 1, 2008 stood at £7,002,621 divided into 35,013,105 ordinary shares of £0.20 each be redenominated from January 1, 2008 to €11,904,455.70 divided into 35,013,105 ordinary shares of €0.34 each.
d. Since the nominal value of the share has been rounded in €0.34 and due to the fact that the issued share capital has been reduced with the sum of €60,232.63, the sum of €60,232.63 is transferred to a special reserve under the name “Difference from Redenomination of Share Capital in Euros”.
1. Cancelled the ordinary resolution approved by the Extraordinary General Meeting dated June 9, 2008, after explaining to the shareholders that the resolution cannot be adopted because it conflict with the provisions of the Adoption of the Euro Law 2007 (N. 33 (I) 2007).
2. Approved the following ordinary resolution:
In order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
a. The nominal capital of the Company, which on January 1, 2008 stood at £12,000,000 divided into 60,000,000 ordinary shares of £0.20 each be redenominated from January 1, 2008 to €20,400,000 divided into 60,000,000 ordinary shares of €0.34 each.
b. Each issued share of nominal value £0.20 each be redenominated into €0.34 each.
c. The issued capital of the Company, which on January 1, 2008 stood at £7,002,621 divided into 35,013,105 ordinary shares of £0.20 each be redenominated from January 1, 2008 to €11,904,455.70 divided into 35,013,105 ordinary shares of €0.34 each.
d. Since the nominal value of the share has been rounded in €0.34 and due to the fact that the issued share capital has been reduced with the sum of €60,232.63, the sum of €60,232.63 is transferred to a special reserve under the name “Difference from Redenomination of Share Capital in Euros”.
