Frigoglass S.A. refers to the Extraordinary General Meeting of its shareholders which on 5th September 2008 approved a share buy back scheme in accordance with the provisions of Article 16 par. 1 of Codified Law 2190/1920. More specifically, following such resolution, the company may proceed with the buy back of up to 10% of its paid-up share capital over a period starting from 5th September 2008 and ending on 5th September 2010, at a minimum purchase price of euro 1 per share and a maximum purchase price of euro 25 per share.
Implementing the above resolution, the Board of Directors of the Company resolved at its meeting of 2nd October 2008 that the Company proceeds with the buy back of up to 10% of its paid-up share capital, over a period starting from 5th September 2008 and ending on 5th September 2010, at a minimum purchase price of euro 1 per share and a maximum purchase price of euro 25 per share.
Investors should note that the implementation of the above share buyback scheme will depend on the relative attractiveness of alternative investment opportunities and availability of funds.