CCC to Implement Buy-Back
7/5/2001 9:57
The Cyprus Cement Company Ltd. announced that during its EGM of the 4 May 2001, the following special resolution was endorsed.
1. To authorise the Board to acquire own shares of the company within a period of 12 months from endorsement of this resolution.
2. The maximum number of shares acquired at any time not to exceed 10% of the issued share capital of the company or 25% of the average number of transactions on the CSE over the 30 days preceding such a purchase, whichever is the least.
3. Shares acquired by the aforementioned way to be held up to 24 months or less at the discretion of the Board.
4. Shares to be fully paid up and not to exceed 5% of the average price of shares of the company traded over the five sessions of the CSE preceding such a purchase, with funds utilised from realised non-disbursed profits of the company.
5. The Secretary was authorised to take all necessary steps for implementation of the decision.
1. To authorise the Board to acquire own shares of the company within a period of 12 months from endorsement of this resolution.
2. The maximum number of shares acquired at any time not to exceed 10% of the issued share capital of the company or 25% of the average number of transactions on the CSE over the 30 days preceding such a purchase, whichever is the least.
3. Shares acquired by the aforementioned way to be held up to 24 months or less at the discretion of the Board.
4. Shares to be fully paid up and not to exceed 5% of the average price of shares of the company traded over the five sessions of the CSE preceding such a purchase, with funds utilised from realised non-disbursed profits of the company.
5. The Secretary was authorised to take all necessary steps for implementation of the decision.
