Aristo Dev. Considers Buy Back of Shares
9/5/2001 9:44
During the Board meeting of Aristo Developers Ltd held on the 8 May 2001, the final results of the company were approved for the year ending 31 December 2000. The AGM of the company will take place on the 30 May 2001, following which an EGM will take place for approval of the following resolutions.
Special Resolution 1
To authorise the Board to acquire own shares of the company in accordance with current legislation, the minimum and maximum acquisition price not to exceed 5% of the average market price of shares traded during the five days preceding such purchase. The company to acquire up to the maximum number of shares allowed within 12 months of approval of this resolution. Shares to be acquired either by private agreement or from the stockmarket and to be held for a period not exceeding two years from acquisition.
Special Resolution 2
To authorise the Board to issue at its discretion shares of the company not exceeding 20 million of 20 cents nominal value each to be offered in exchange for acquisition of shares of other companies or for partnerships and/or for acquisition of operations, businesses and/or assets of other companies, without having to offer such shares to existing shareholders of the company as at that date.
Special Resolution 1
To authorise the Board to acquire own shares of the company in accordance with current legislation, the minimum and maximum acquisition price not to exceed 5% of the average market price of shares traded during the five days preceding such purchase. The company to acquire up to the maximum number of shares allowed within 12 months of approval of this resolution. Shares to be acquired either by private agreement or from the stockmarket and to be held for a period not exceeding two years from acquisition.
Special Resolution 2
To authorise the Board to issue at its discretion shares of the company not exceeding 20 million of 20 cents nominal value each to be offered in exchange for acquisition of shares of other companies or for partnerships and/or for acquisition of operations, businesses and/or assets of other companies, without having to offer such shares to existing shareholders of the company as at that date.
