Avacom: Reverse split on 26/11
We wish to inform you that Avacom Public Company Ltd will proceed with a reverse split from £0.025 to £0.20. The cum-date will be November 26, 2007. The Board of Directors decided that any fractional balances lower than 5 will not participate in the distribution of indisposed balances. In case that a number of shares remain indisposed after the above distribution of shares, these will be allocated to a specific group so as to be liquidated and the received sum be credited in the special account.
The reverse split is the result of the special resolution approved by the Extraordinary General Meeting on August 3, 2007:
“That with the enforcement of special resolutions 1, 2 and 3, the authorized share capital, which will amount to £10,000,000 (€17,241,379) divided into 400,000,000 ordinary shares of 2.5 cents (€0.0431) each and the issued share capital, which will amount to £2,559,958.40 (€4,413,721.30) divided into 102,398,336 ordinary fully paid shares of 2.5 cents (€0.0431) each be split to £10,000,000 divided into 50,000,000 ordinary shares of 20 cents (€0.345) each (authorized) and £2,559,,958.40 divided into 12,799,792 ordinary fully paid shares of 20 cents (€0.345) each (issued) and that this consolidation be carried out with the consolidation of the nominal value of every 8 shares of 2.5 cents each to 1 share of nominal value 20 cents each”.
The reverse split is the result of the special resolution approved by the Extraordinary General Meeting on August 3, 2007:
“That with the enforcement of special resolutions 1, 2 and 3, the authorized share capital, which will amount to £10,000,000 (€17,241,379) divided into 400,000,000 ordinary shares of 2.5 cents (€0.0431) each and the issued share capital, which will amount to £2,559,958.40 (€4,413,721.30) divided into 102,398,336 ordinary fully paid shares of 2.5 cents (€0.0431) each be split to £10,000,000 divided into 50,000,000 ordinary shares of 20 cents (€0.345) each (authorized) and £2,559,,958.40 divided into 12,799,792 ordinary fully paid shares of 20 cents (€0.345) each (issued) and that this consolidation be carried out with the consolidation of the nominal value of every 8 shares of 2.5 cents each to 1 share of nominal value 20 cents each”.
