CAIR: 94.30% of rights exercised – 263.85m shares resulted
Cyprus Airways Public Limited announces that after the final audit and the cash in of the cheques for the exercise of rights, 94.30% of the total issue has been exercised, which corresponds to 263,848,178 new shares.
With regard to the unexercised rights, the Prospectus dated September 17, 2007 (Part C, II, 7.0) provides that:
“Within 10 business days from the last exercise day, the Company will be entitled to exercise all or part of the unexercised rights during the exercise period and to dispose the shares that will result, given that the Company has received the irrevocable offers for the purchase of such number of shares. The shares can be disposed at the same price or at a price higher than the sale price of the new shares, given that according to the Company’s opinion, the net product of the sale of shares after the deduction of the sale expenses exceeds the sale price of the new shares. The shares that will result from the exercise of the unexercised rights will be disposed to the investors who have submitted an irrevocable offer”.
The Board of Directors decided that the shares that correspond to unexercised rights will be disposed via the book-building procedure, which has been undertaken by CISCO on behalf of the Company.
The book-building procedure will be held on December 11 – 13, 2007 and will address to investors who wish to invest at least £5,000 in the Company’s shares. Investors may contact CISCO, tel. 22881800, which will release the relevant announcement.
With regard to the unexercised rights, the Prospectus dated September 17, 2007 (Part C, II, 7.0) provides that:
“Within 10 business days from the last exercise day, the Company will be entitled to exercise all or part of the unexercised rights during the exercise period and to dispose the shares that will result, given that the Company has received the irrevocable offers for the purchase of such number of shares. The shares can be disposed at the same price or at a price higher than the sale price of the new shares, given that according to the Company’s opinion, the net product of the sale of shares after the deduction of the sale expenses exceeds the sale price of the new shares. The shares that will result from the exercise of the unexercised rights will be disposed to the investors who have submitted an irrevocable offer”.
The Board of Directors decided that the shares that correspond to unexercised rights will be disposed via the book-building procedure, which has been undertaken by CISCO on behalf of the Company.
The book-building procedure will be held on December 11 – 13, 2007 and will address to investors who wish to invest at least £5,000 in the Company’s shares. Investors may contact CISCO, tel. 22881800, which will release the relevant announcement.
