NEL Lines - Maritime Company of Lesvos S.A. would like to announce that by the resolution of the Second Repeat Extraordinary General Shareholders Meeting on October 30th 2007 (Government Gazette SA & Ltd Cos 12836/24-11-2006) through which its Board of Directors was granted under the provisions of par 1, sections b & c article 13 of Law 2190/1920 on Societes Anonymes, as then in force, and for a period of 5 years i.e. until 30.10.2011, the authority to increase the share capital of the company, partially or in the whole, through the issue of new shares, and up to he amount of 31.154.055,30 Euro, the Board of Directors of the Company which convened on 20/12/2007 decided as follows:
The Capital Increase of the Company by 14.179.480,50 euro in cash, in favor of existing shareholders through the issuance of 4 new shares for every 10 existing old shares. In total 47.264.935 shares will be issued of nominal value 0,30 Euro each offered at 0,70 Euro each. The total proceeds of the capital increase will amount to 33.085.454,50 euro of which an amount of 14.179.480,50 euro corresponds to share capital increase while an amount of 18.905.974,00 euro corresponds to over par.
Furthermore, in case the capital increase is not fully subscribed, the share capital will increase up to the subscribed amount as per the provisions of article 13a of Law 2190/1920.
The subscription price may be higher than the trading price of the current shares on the ex-rights date.
The modification of article 5 of the articles of incorporation of the company concerning share capital with the following addition:
By its decision dated 20/12/2007, the Board of Directors, having the relevant authority by the decision of the Second Repeat Extraordinary General Shareholders Meeting dated 30 October 2006 (Government Gazette SA & Ltd Cos 12836/24-11-2006) decided the capital increase of the company by fourteen million one hundred and seventy nine thousand four hundred eighty euro and fifty cents (14.179.480,50 euro) through the issuance of forty seven million two hundred and sixty four thousand nine hundred and thirty five (47.264.935) new registered ordinary shares of nominal value 0,30 Euro each offered at 0,70 Euro each. The total proceeds of the capital increase will amount to 33.085.454,50 euro of which the amount of 14.179.480,50 euro corresponds to share capital increase while the amount of 18.905.974,00 euro corresponds to over par. Following the above, the share capital amounts to forty nine million six hundred and twenty eight thousand one hundred and eighty one euro and sixty cents (49.628.181,60 euro) corresponding to one hundred and sixty five million four hundred twenty seven thousand and two hundred seventy two (165.427.272) registered ordinary shares of nominal value thirty cents of a euro each.