Muskita: Indicative results 2007 – EGM on 26/3 for redenomination of capital in euros
We wish to inform you that at the meeting held on February 26, 2008, the Board of Directors of Muskita Aluminium Industries Plc examined and approved the indicative results for the financial year ended December 31, 2007. The results are attached.
The results together with the explanatory report will not be posted to the shareholders but will be published in newspapers “Phileleftheros” and “Simerini” on February 28, 2008. Copies will be available at the Company’s registered office, A’ Limassol Industrial Area, Limassol.
The Board of Directors also decided to hold an Extraordinary General Meeting on Wednesday, March 26, 2008 at 1.00 pm at the Company’s office in Limassol to cancel the ordinary resolutions approved by the Extraordinary General Meeting dated December 20, 2007 and to approve the following special resolutions:
Special Resolution 1:
That:
1. The Company’s share capital be re-expressed in euros, pursuant to Law 33(I)/2007, Article 18 (I).
2. The re-expression in euros be converted and rounded pursuant to Article 5 of the European Directive.
3. It will use the exchange rate of €1.00 = £0.585274.
Special Resolution 2
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 by €22,715.59 be registered in a special reserve, which will be called “Difference from conversion of share capital into euros”.
Special Resolution 3
That:
Paragraph 4 of the Articles of Association be replaced with the following paragraph due to the adoption of the euro:
“The share capital of the Company is €170,000,000 divided into 1,000,000,000 ordinary shares of €0.17 each. The shares in the initial or any other increased capital may be divided in several classes and may be given any rights, preference or special or several terms or restrictions can be set with regard to the dividends, capital, voting rights or otherwise”.
The results together with the explanatory report will not be posted to the shareholders but will be published in newspapers “Phileleftheros” and “Simerini” on February 28, 2008. Copies will be available at the Company’s registered office, A’ Limassol Industrial Area, Limassol.
The Board of Directors also decided to hold an Extraordinary General Meeting on Wednesday, March 26, 2008 at 1.00 pm at the Company’s office in Limassol to cancel the ordinary resolutions approved by the Extraordinary General Meeting dated December 20, 2007 and to approve the following special resolutions:
Special Resolution 1:
That:
1. The Company’s share capital be re-expressed in euros, pursuant to Law 33(I)/2007, Article 18 (I).
2. The re-expression in euros be converted and rounded pursuant to Article 5 of the European Directive.
3. It will use the exchange rate of €1.00 = £0.585274.
Special Resolution 2
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 by €22,715.59 be registered in a special reserve, which will be called “Difference from conversion of share capital into euros”.
Special Resolution 3
That:
Paragraph 4 of the Articles of Association be replaced with the following paragraph due to the adoption of the euro:
“The share capital of the Company is €170,000,000 divided into 1,000,000,000 ordinary shares of €0.17 each. The shares in the initial or any other increased capital may be divided in several classes and may be given any rights, preference or special or several terms or restrictions can be set with regard to the dividends, capital, voting rights or otherwise”.
