22/07/2010 11:43
Minerva announced today the termination of the agreement for the acquisition of 93.75% of Eurosure.
According to the announcement, “the agreement with R. Christofidou Limited (Seller) for the acquisition of 3,276,856 shares, that is, 93.75% that the Seller holds in the share capital of the insurance company Eurosure Insurance Company Limited, was terminated with the Seller’s initiative”.
As a result, Minerva, under the circumstances, will not proceed with the finalization of the acquisition of the above share capital in Eurosure.
The agreement for the sale of 3.3 million shares of Eurosure to Minerva was announced in early February. The exchange for the purchase of the 3,376,856 shares of the share capital of Eurosure has been set as the ratio of the number of shares to the sum of the net asset value of Eurosure as at 31/12/2009, as this will emerge from the due diligence.
According to the announcement, “the agreement with R. Christofidou Limited (Seller) for the acquisition of 3,276,856 shares, that is, 93.75% that the Seller holds in the share capital of the insurance company Eurosure Insurance Company Limited, was terminated with the Seller’s initiative”.
As a result, Minerva, under the circumstances, will not proceed with the finalization of the acquisition of the above share capital in Eurosure.
The agreement for the sale of 3.3 million shares of Eurosure to Minerva was announced in early February. The exchange for the purchase of the 3,376,856 shares of the share capital of Eurosure has been set as the ratio of the number of shares to the sum of the net asset value of Eurosure as at 31/12/2009, as this will emerge from the due diligence.
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