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CLR Inv.: EGM on 4/7 for reduction of nominal value of share

The Board of Directors decided to reduce the nominal value of the share from €0.08 to €0.03 for the reasons explained in the resolution itself. Therefore, an Extraordinary General Meeting will take place on Thursday, July 4, 2013 at 3.30 pm at 26 Vironos Avenue, Laiki Capital House, Nicosia following the AGM, to approve the following special resolution.

Special Resolution

“That the authorized share capital of the Company, which amounts to €866,666,667 divided into 10,833,333,324 ordinary shares of €0.08 each and the issued share capital, which amounts to €23.051.277.76 divided into 288,140,972 ordinary fully paid shares of €0.08 each be reduced to €324.999.999.75 divided into 10.833.333.325 ordinary shares of €0.03 each (authorized) and €6.644.229.16 divided into 288,140,972 fully paid ordinary shares of nominal value €0.03 cents each (issued), and that this reduction be carried out with the reduction of the nominal value of each ordinary share from €0.08 each to €0.03 for the write-off of losses and/or due to loss of capital that is not represented from the assets available. Following the reduction, the authorized share capital of the Company will increase to €866,666,666, which will be divided into 28.888.888866 ordinary shares of €0.03 each”
Friday, 17 May, 2013 - 14:45