The Board of Directors of the Company resolved during its meeting as of May 23rd, 2017 to recommend to the Annual General Meeting that will take place on June 16th 2017, day of the week Friday at 10 a.m. at the Company’s registered seat in Kifissia, Attica, in “PIRNA” Business Centre at 15 Andrea Metaxa Str. and to every adjourned General Meeting, amongst others, the increase of the Company’s share capital up to the amount of €137,716,965 million, through payment in cash and the issuance of up to 378,884,574 new common registered voting shares of a nominal value equal to the nominal value that will have been determined per share following the forthcoming reverse share split and the share capital decrease, with pre-emptive rights of the Company’s existing shareholders, in a ratio of 22.4662517544135 new shares for each one (1) existing share.
It further resolved to recommend the following to the General Meeting:
(a) the exercise of the pre-emptive rights within 15 days;
(b) the option for the subscription price of the new shares being higher than the market price of the existing shares at the time of the detachment of the pre-emptive rights;
(c) to credit any potential difference between the nominal value of the newly issued shares and the subscription price thereof to the account of the Company’s owned funds “Difference due to the issuance of shares above par”; and
(d) the granting of authorisation to the Company’s Board of Directors in order for the Board to determine the record date for the detachment of the pre-emptive rights, the exercise period of the pre-emptive rights, the expiry of the payment deadline and, in general, to proceed with all the necessary actions and arrange the details regarding the above increase and the admission of all shares to trading into Athens Exchange, with the right of sub-authorisation to any of its members or Company’s officers.
It is finally noted that the partial payment of the amount of the increase will be permitted pursuant to article 13a C.L. 2190/1920.
