Petsas: EGM on 30/7 for cancellation of resolution on redenomination in euros and approval of new
7/7/2008 9:41
At the meeting held on July 4, 2008, the Board of Directors of Andreas Petsas and Sons Public Ltd examined an issue emerged from the adoption of the ordinary resolution approved by the Extraordinary General Meeting on June 9, 2008 and concerns the Company’s compliance with the Adoption of the Euro Law 2007 (N.33 (I) 2007) from January 1, 2008.
Due to the fact that the resolution clashes with the provisions of the above law, the Board of Directors decided to hold an Extraordinary General Meeting on Wednesday, July 30, 2008 at 15.30 at the Company’s office in Nicosia to cancel the ordinary resolution approved on June 9, 2008 and to examine and approve the following ordinary resolution:
Ordinary resolution:
In order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
1. 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.
2. Each issued share of nominal value £0.20 each be redenominated into €0.34 each.
3. 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.
4. 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”.
Due to the fact that the resolution clashes with the provisions of the above law, the Board of Directors decided to hold an Extraordinary General Meeting on Wednesday, July 30, 2008 at 15.30 at the Company’s office in Nicosia to cancel the ordinary resolution approved on June 9, 2008 and to examine and approve the following ordinary resolution:
Ordinary resolution:
In order to comply with the Adoption of the Euro Law 2007 (N.33(I)/2007) from January 1, 2008:
1. 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.
2. Each issued share of nominal value £0.20 each be redenominated into €0.34 each.
3. 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.
4. 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”.
