Stademos New Warrants Issue
10/5/2001 10:42
During the meeting of the Board of Stademos Hotels Ltd. of the 9 May 2001, the final audited results of the company for the fiscal year 2000 were examined and approved and the date for the AGM of the company was set for the 29 June 2001.
It was also decided to set an EGM to precede the AGM and to propose the following special resolutions for approval.
1. To authorise the Board to issue warrants to shareholders of the company registered as at 18 July 2001 to the ratio of 1 warrant for every 5 shares held, exercisable on the 30 October 2002 at the exercise price of 45 cents. In the event where warrants are not exercised, these to be exercisable by the Board to persons and under such terms at the discretion of the Board. The aim of the warrants issue is to raise additional funds for part-funding of the construction of the company’s new hotel in Paphos.
2. To authorise the Board to issue to shareholders of Glyki Nero Estate Co. Ltd. 3.500.000 shares of 40 cents each at the same price for acquisition of 100% of the share capital of the company without having to offer such shares to existing shareholders.
Concerning a proposal to the AGM for a decision on acquisition by the company of own shares, no decision has yet been taken.
It was also decided to set an EGM to precede the AGM and to propose the following special resolutions for approval.
1. To authorise the Board to issue warrants to shareholders of the company registered as at 18 July 2001 to the ratio of 1 warrant for every 5 shares held, exercisable on the 30 October 2002 at the exercise price of 45 cents. In the event where warrants are not exercised, these to be exercisable by the Board to persons and under such terms at the discretion of the Board. The aim of the warrants issue is to raise additional funds for part-funding of the construction of the company’s new hotel in Paphos.
2. To authorise the Board to issue to shareholders of Glyki Nero Estate Co. Ltd. 3.500.000 shares of 40 cents each at the same price for acquisition of 100% of the share capital of the company without having to offer such shares to existing shareholders.
Concerning a proposal to the AGM for a decision on acquisition by the company of own shares, no decision has yet been taken.
