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Acquisition of "Yperagora Omega" in Paralimni

ANNOUNCEMENT

The company is in the pleasant position to inform you that after the approval of the Board of Directors has proceeded to an agreement with the shareholders of Yperagora Omega Ltd. (Supermarket Omega Ltd.) for the acquisition of all their shares of the above company. Yperagora Omega Ltd. is the owner and it carries out the operations Yperagora Omega in Paralimni.

This acquisition by our company has been made in accordance with the strategy for the promotion and expansion of our operations over the whole of Cyprus.

The company pays special attention to this successful acquisition, which will make possible the dynamic presence of our company in this big tourist centre of Cyprus and in the free (none-occupied) area of Famagusta.

According to the acquisition agreement, the company will proceed to the allotment of 610,000 of its own shares to the owners of Yperagora Omega Ltd.

In accordance with our company's Articles of Association a special resolution is demanded to make the realization of the agreement possible and the allotment of the above-mentioned shares.

For this, an Extraordinary General Meeting has been called.
Δευτέρα, 23 Αυγούστου, 1999 - 00:00