Logicom Considers Buy-Back of own Shares
The Board of Logicom Ltd during its meeting today approved the financial statements of the company for the year 2000 which will be submitted to the AGM on the 13 June 2001.

Following the company’s announcement of the 18 April 2001, it has been decided to propose to the AGM a special resolution authorising the Board to proceed with acquisition of shares of the company within a period of 12 months from approval of the resolution, under the following terms.

1. Acquisition of own shares to be made either by private agreement or from the stockmarket from non-disbursed realised profits or in accordance with legislation.
2. The total nominal value of shares acquired, including shares already held by the company or by entities on its behalf, not to exceed 10% of the issued share capital of the company or 25% of the average value of transactions traded over the 30 days preceding such a purchase, whichever is the least.
3. Shares acquired to be held for a maximum of two years.
4. The maximum acquisition price of shares not to exceed 5% of the average market value of shares over the five trading sessions prior to such acquisition, without a minimum acquisition price.
5. Relevant legislation applicable to be observed.