Muskita: EGM approved cancellation of resolutions and redenomination of capital in euros
We wish to inform you that the Extraordinary General Meeting of Muskita Aluminium Industries Plc held on Wednesday, March 26, 2008 at 1.00 pm at the Company’s office, Limassol Industrial Area, approved the following special resolutions:
Ordinary resolution 1
“That the ordinary resolutions approved by the Extraordinary General Meeting held on December 20, 2007 but were not enforced be cancelled”.
Ordinary resolution 2
a) The Company’s share capital be re-expressed in euros, pursuant to Law 33(I)/2007, Article 18 (I).
b) The re-expression in euros be converted and rounded pursuant to Article 5 of the European Directive.
c) It will use the exchange rate of €1.00 = £0.585274.
Special resolution 3
That, pursuant to the aforementioned Law and Articles:
1. The current nominal value of the share be converted from £0.10 to €0.17 after the rounding.
2. The nominal capital of the Company be converted from £100,000,000 divided into 1,000,000,000 ordinary shares of nominal value £0.10 to €170,000,000 divided into 1.000,000,000 ordinary shares of nominal value €0.17.
3. The issued share capital of the Company be reduced from €414,095,961.89 (£8,250,000) divided into 82,500,000 shares to €14,025,000 after the rounding divided into 82,500,000 shares of nominal value €0.17 each.
4. The reduction in the share capital of the Company, which stands at €70,961.89 be transferred in a special reserve under the name “Difference from redenomination of share capital in euros” for future use.
Ordinary resolution 1
“That the ordinary resolutions approved by the Extraordinary General Meeting held on December 20, 2007 but were not enforced be cancelled”.
Ordinary resolution 2
a) The Company’s share capital be re-expressed in euros, pursuant to Law 33(I)/2007, Article 18 (I).
b) The re-expression in euros be converted and rounded pursuant to Article 5 of the European Directive.
c) It will use the exchange rate of €1.00 = £0.585274.
Special resolution 3
That, pursuant to the aforementioned Law and Articles:
1. The current nominal value of the share be converted from £0.10 to €0.17 after the rounding.
2. The nominal capital of the Company be converted from £100,000,000 divided into 1,000,000,000 ordinary shares of nominal value £0.10 to €170,000,000 divided into 1.000,000,000 ordinary shares of nominal value €0.17.
3. The issued share capital of the Company be reduced from €414,095,961.89 (£8,250,000) divided into 82,500,000 shares to €14,025,000 after the rounding divided into 82,500,000 shares of nominal value €0.17 each.
4. The reduction in the share capital of the Company, which stands at €70,961.89 be transferred in a special reserve under the name “Difference from redenomination of share capital in euros” for future use.
