J&P-AVAX SA announces that the Annual General Meeting of its Shareholders held on 26.06.2007 approved the increase of the Company's share capital by 2,196,000.00 euros through the capitalisation of the following reserves:
a) special tax-exempt reserve (article 22, Law 1828/1989), amounting to 1,605,094.32 euros,
b) property revaluation reserve (Law 2065/1992), amounting to 145,964.10 euros
c) profit carried forward, amounting to 444,941.58 euros. The capital increase will raise the share par value from 0.55 euros to 0.58 euros.
Following the afore-mentioned capital increase, the nominal value of the Company's share capital will amount to 42,456,000.00 euros, comprising 73,200,000 common registered shares, each with a par value of 0.58 euros.
The Development Ministry approved the pertinent amendment in the Company Charter with its decision # Κ2-10033/12-07-2007. The Board of Directors of the Athens Stock Exchange was informed of the increase in the par value of the Company's shares at its meeting held on 23.08.2007.
The shares will start trading on the Athens Stock Exchange with their new par value of 0.58 euros on 29.08.2007.
Shareholders may contact the Company's Shareholder Service for further information (Ms Elisabeth Michailari 210-6375685, Mr Angelos Kiosklis 210-6375592).