Subject: Results of the Public Offer of Empire Capital Investments Public Ltd for the acquisition of up to 100% of the share capital of PSD Investments Public Ltd.
Pursuant to the provisions of article 18 of the CSE Regulations (Public Offer for Acquisition or Purchase of Titles and Merger of Companies listed in the CSE), the Board of Directors of Empire Capital Investments Public Ltd announces that the aforementioned Public Offer has been successful.
At the meeting held on Friday, September 24, 2004, the Board of Directors of Empire examined the results of the Public Offer and announces the following:
During the period of acceptance, 108 acceptance forms have been received. The proposal was accepted for 4,921,567 shares that correspond to 94.58% of the total issued and listed shares of PSD Investments Public Ltd that are not held by Empire and its subsidiaries and its agents.
As a result and following the successful outcome of the Public Offer, the Board of Directors decided to send letters to all the shareholders that accepted the Public Offer, informing them on the shares of Empire that will be granted to them through the CSE.
Pursuant to the provisions of the Companies’ Law Chapter 113, the shareholders of PSD that have not accepted the offer have the right to demand the acquisition of their shares by Empire within the period of 3 months and with the same terms as included in the Public Offer. Empire will notify the shareholders of PSD.
Pursuant to the provisions of article 201(1) of the Companies’ Law Chapter 113 and due to the fact that the acceptance of the Public Offer has exceeded 95.06% of the share capital of PSD, Empire intends to exercise the right that it has pursuant to article 201 of the Companies’ Law Chapter 113 to acquire the remaining shares of PSD.
Following the completion of the above process and due to the fact that Empire holds 95.06% of the issued share capital of PSD, the Board of Directors decided to request the delistment of PSD from the CSE.
The Board of Directors would like to thank the shareholders for their contribution to the successful proposal.
Pursuant to the provisions of article 18 of the CSE Regulations (Public Offer for Acquisition or Purchase of Titles and Merger of Companies listed in the CSE), the Board of Directors of Empire Capital Investments Public Ltd announces that the aforementioned Public Offer has been successful.
At the meeting held on Friday, September 24, 2004, the Board of Directors of Empire examined the results of the Public Offer and announces the following:
During the period of acceptance, 108 acceptance forms have been received. The proposal was accepted for 4,921,567 shares that correspond to 94.58% of the total issued and listed shares of PSD Investments Public Ltd that are not held by Empire and its subsidiaries and its agents.
As a result and following the successful outcome of the Public Offer, the Board of Directors decided to send letters to all the shareholders that accepted the Public Offer, informing them on the shares of Empire that will be granted to them through the CSE.
Pursuant to the provisions of the Companies’ Law Chapter 113, the shareholders of PSD that have not accepted the offer have the right to demand the acquisition of their shares by Empire within the period of 3 months and with the same terms as included in the Public Offer. Empire will notify the shareholders of PSD.
Pursuant to the provisions of article 201(1) of the Companies’ Law Chapter 113 and due to the fact that the acceptance of the Public Offer has exceeded 95.06% of the share capital of PSD, Empire intends to exercise the right that it has pursuant to article 201 of the Companies’ Law Chapter 113 to acquire the remaining shares of PSD.
Following the completion of the above process and due to the fact that Empire holds 95.06% of the issued share capital of PSD, the Board of Directors decided to request the delistment of PSD from the CSE.
The Board of Directors would like to thank the shareholders for their contribution to the successful proposal.
Monday, 27 September, 2004 - 10:03