During an EGM of D.H. Cyprotels Ltd. which took place on the 31 July 2001, the following special resolutions were approved:
Special Resolution 1
It was decided that the company proceed with the issuance of up to 16.323.395 bonus warrants to the ratio of one warrant for every eleven shares held as at a date to be determined by the Board and which will be 10-15 days after approval of relevant prospectus by the CSE, with the following terms:
1. Every warrant will be exercisable between 15 and 31 March 2002 for one share of the company at the price of 20 cents, fully payable during the exercise period.
2. Warrant holders who do not exercise these until the 31 March 2002 will lose their exercise rights.
The Board was authorised to proceed with all necessary measures for implementation of the above decision.
Special Resolution 2
It was decided that the company issues 1.000.000 new shares of 10 cents nominal value without having to offer these to existing shareholders and that said shares be offered as fully paid up shares from reserves of the company, to Mr. Savvas Phil. Droushiotis as a token of appreciation for his long and multi-faceted services to the company and to its aims, on the occasion of his retirement from the Board. The Board was authorised to take all necessary steps for implementation of the decision, with existing shareholders surrendering their pre-emption rights.
Special Resolution 1
It was decided that the company proceed with the issuance of up to 16.323.395 bonus warrants to the ratio of one warrant for every eleven shares held as at a date to be determined by the Board and which will be 10-15 days after approval of relevant prospectus by the CSE, with the following terms:
1. Every warrant will be exercisable between 15 and 31 March 2002 for one share of the company at the price of 20 cents, fully payable during the exercise period.
2. Warrant holders who do not exercise these until the 31 March 2002 will lose their exercise rights.
The Board was authorised to proceed with all necessary measures for implementation of the above decision.
Special Resolution 2
It was decided that the company issues 1.000.000 new shares of 10 cents nominal value without having to offer these to existing shareholders and that said shares be offered as fully paid up shares from reserves of the company, to Mr. Savvas Phil. Droushiotis as a token of appreciation for his long and multi-faceted services to the company and to its aims, on the occasion of his retirement from the Board. The Board was authorised to take all necessary steps for implementation of the decision, with existing shareholders surrendering their pre-emption rights.
Wednesday, 1 August, 2001 - 10:41