Liberty Life: Caution before exercising of warrants
Liberty Life Insurance Ltd., through an announcement reminded warrant holders that the exercise period for the warrants is between 11 to 20 March 2002 for a share of 20 cents per warrant.
The exercise price has been adjusted due to the following issues of bonus shares from CYP 1.30 to CYP 1.15 cents per share.
1. Issuance of 800.000 bonus shares to insurance associates of the company of 20 cents nominal value, based on a special resolution approved by an EGM of the 12 July 2001.
2. Issuance of 1.708.017 bonus shares (of 20 cents nominal value) to shareholders registered as at 1 June 2001 who would not sell their shares up to the 31 October 2001, to the ratio of one bonus share for every ten held as at the above period, based on a special resolution approved by an EGM of the 18 May 2001.
Warrants can be exercised at the main offices of the company at Stasandrou 26, 4th Floor, Nicosia 1060 or at any branch of the Bank of Cyprus, Popular Bank or Hellenic Bank. For any clarifications, investors may apply to the offices of the company through the telephone number 22869300.
The last day of trading of the warrants is the 7 March 2002. The company urges warrant holders to take into serious consideration the trading price of its shares on the CSE during the exercise period of the warrants. It is noted that as at the date of this announcement, the price of shares were trading significantly lower than the exercise price of warrants. If share prices are sustained at such levels during the exercise period, then exercising the warrants will not be beneficial.
The exercise price has been adjusted due to the following issues of bonus shares from CYP 1.30 to CYP 1.15 cents per share.
1. Issuance of 800.000 bonus shares to insurance associates of the company of 20 cents nominal value, based on a special resolution approved by an EGM of the 12 July 2001.
2. Issuance of 1.708.017 bonus shares (of 20 cents nominal value) to shareholders registered as at 1 June 2001 who would not sell their shares up to the 31 October 2001, to the ratio of one bonus share for every ten held as at the above period, based on a special resolution approved by an EGM of the 18 May 2001.
Warrants can be exercised at the main offices of the company at Stasandrou 26, 4th Floor, Nicosia 1060 or at any branch of the Bank of Cyprus, Popular Bank or Hellenic Bank. For any clarifications, investors may apply to the offices of the company through the telephone number 22869300.
The last day of trading of the warrants is the 7 March 2002. The company urges warrant holders to take into serious consideration the trading price of its shares on the CSE during the exercise period of the warrants. It is noted that as at the date of this announcement, the price of shares were trading significantly lower than the exercise price of warrants. If share prices are sustained at such levels during the exercise period, then exercising the warrants will not be beneficial.
