AVAX S.A.
Listing of New Shares Issued due to Capital Increase
The Board of Directors of J&P-AVAX SA (the Company) announces that a total of 4,454,850 new common registered shares, with a par value of euro 0.58 each, will be listed on the Athens Stock Exchange on 02.11.2007, following the share capital increase approved on 23.08.2007 by the Extraordinary General Meeting of the Companys shareholders, which was ratified by the Development Ministry (decision K2-15019/18.10.2007).
The opening price for the Company's shares on 02.11.2007 in the will be adjusted on the Athens Stock Exchange pursuant to the Exchange Regulation and the Hellenic Capital Market Commission decision 35/24.11.2006, and its subsequent amendments.
We remind the investment public that the Extraordinary General Meeting of the Company's shareholders held on 23.08.2007 approved, amongst others, the increase in the Company?s capital by euro 41,040,000 through an issue at a price of euro 7.60 of 5,400,000 new common registered shares, with a par value of euro 0.58 each. The issue would result in an increase of euro 3,132,000 in the par value of the Company's capital increase, with a further euro 37,908,000 (=5,400,000 shares times euro 7,02) added to the Companys share premium reserve.
The Extraordinary General Meeting decided existing Company shareholders would waive their rights to the issue in favour of Strategic Shareholders (former major shareholders and senior management of ATHENA SA), who were disclosed at the Meeting. The capital increase carried a 20-day deadline, expiring 12.09.2007.
The decision of the Extraordinary General Meeting of the Company's shareholders held on 23.08.2007 regarding the capital increase and the pertinent amendment in the Company's Charter was approved by the Development Ministry (decision K2-13743/20.09.2007), whereas the waive of shareholders rights to the capital increase was approved by the Development Ministry (decision K2-14098/20.09.2007).
The Board of Directors of the Company on 21.09.2007 certified the receipt of funds towards the capital increase, disclosing that 17 investors, out of a total of 19 eligible for participating, deposited a total of euro 33,856,860 (as opposed to euro 41,040,000 initially approved) which corresponds to 4,454,850 new common registered shares (as opposed to 5,400,000 initially approved).
Following the partial cover of the issue, the par value of the Company's share capital amounts to euro 45,039,813 (=euro 42,456,000 + euro 2,583,813), split in 77,654,850 (=73,200,000 + 4,454,850) common registered shares with a par value of euro 0.58 each. The difference between the issue price and the par value of the new shares (euro 7.60 - euro 0.58 = euro 7.02 each), totalling eurp 31,273,047 (=4,454,850 shares times euro 7.02) will be added to the Companys share premium reserve, pursuant to legislation and the Company's Charter.
For further information, shareholders may contact the Company's Shareholder Service at 16 Amarousiou-Halandriou Street, 151 25, Marousi, Greece, attention of Ms Elisabeth Michailari (+30-210-6375685) and Mr Angelos Kiosklis (+30-210-6375592).
The opening price for the Company's shares on 02.11.2007 in the will be adjusted on the Athens Stock Exchange pursuant to the Exchange Regulation and the Hellenic Capital Market Commission decision 35/24.11.2006, and its subsequent amendments.
We remind the investment public that the Extraordinary General Meeting of the Company's shareholders held on 23.08.2007 approved, amongst others, the increase in the Company?s capital by euro 41,040,000 through an issue at a price of euro 7.60 of 5,400,000 new common registered shares, with a par value of euro 0.58 each. The issue would result in an increase of euro 3,132,000 in the par value of the Company's capital increase, with a further euro 37,908,000 (=5,400,000 shares times euro 7,02) added to the Companys share premium reserve.
The Extraordinary General Meeting decided existing Company shareholders would waive their rights to the issue in favour of Strategic Shareholders (former major shareholders and senior management of ATHENA SA), who were disclosed at the Meeting. The capital increase carried a 20-day deadline, expiring 12.09.2007.
The decision of the Extraordinary General Meeting of the Company's shareholders held on 23.08.2007 regarding the capital increase and the pertinent amendment in the Company's Charter was approved by the Development Ministry (decision K2-13743/20.09.2007), whereas the waive of shareholders rights to the capital increase was approved by the Development Ministry (decision K2-14098/20.09.2007).
The Board of Directors of the Company on 21.09.2007 certified the receipt of funds towards the capital increase, disclosing that 17 investors, out of a total of 19 eligible for participating, deposited a total of euro 33,856,860 (as opposed to euro 41,040,000 initially approved) which corresponds to 4,454,850 new common registered shares (as opposed to 5,400,000 initially approved).
Following the partial cover of the issue, the par value of the Company's share capital amounts to euro 45,039,813 (=euro 42,456,000 + euro 2,583,813), split in 77,654,850 (=73,200,000 + 4,454,850) common registered shares with a par value of euro 0.58 each. The difference between the issue price and the par value of the new shares (euro 7.60 - euro 0.58 = euro 7.02 each), totalling eurp 31,273,047 (=4,454,850 shares times euro 7.02) will be added to the Companys share premium reserve, pursuant to legislation and the Company's Charter.
For further information, shareholders may contact the Company's Shareholder Service at 16 Amarousiou-Halandriou Street, 151 25, Marousi, Greece, attention of Ms Elisabeth Michailari (+30-210-6375685) and Mr Angelos Kiosklis (+30-210-6375592).