Pursuant to the provisions of the CSE and SEC Law and Regulations, we wish to inform you that at the meeting held on Monday, March 15, 2010, the Board of Directors decided to issue convertible bonds of up to €2,000,000, which addresses to professional investors and persons who will invest at least €50000 each. The bonds will be of five-year duration, will be transferable but will not be listed in a regulated market. The Company will hold an Extraordinary General Meeting on Wednesday, April 14, 2010 to submit a resolution according to which the existing shareholders will disclaim their rights in relation to the convertible bonds.
The terms of the convertible bonds will be announced with the invitation of the Extraordinary General Meeting after deliberations with the Company’s consultants and will be announced to the CSE. The issue of convertible bonds was deemed necessary by the Board of Directors for the improvement of the Company’s liquidity given the delays in the enforcement of the agreements with the banks.
The terms of the convertible bonds will be announced with the invitation of the Extraordinary General Meeting after deliberations with the Company’s consultants and will be announced to the CSE. The issue of convertible bonds was deemed necessary by the Board of Directors for the improvement of the Company’s liquidity given the delays in the enforcement of the agreements with the banks.
Tuesday, 16 March, 2010 - 13:05