GRIVALIA PROPERTIES Α.Ε.Ε.Α.Π.
Announcement of Acquisition of Treasury Shares
Eurobank Properties REIC announces the following:
A. The Annual General Meeting of the Company's Shareholders on March 16th, 2009, approved the share buy-back program for the acquisition of Treasury (own) shares through the Athens Exchange, in accordance with article 16 of c.l. 2190/1920, as in force, under the following conditions:
1) The Company will acquire own shares up to twenty four months from the date of the Annual General Meeting, hence up to March 16th, 2011.
2) The maximum number of own shares to be acquired will not exceed 2% of the total number of the Company?s shares outstanding at any time; hence it will not exceed 1.220.000 shares.
3) The acquisition of the above own shares will take place at a maximum price of euro 9 and a minimum price of euro 2.13. which is equal to today?s nominal value.
4) The maximum consideration payable for the program amounts to 10.98 million euro.
5) The Board of Directors was authorized to determine all specific terms and details for the implementation of the program.
B. The Board of Directors, in application of the resolution of the above General Meeting, decided on March 16, 2009 that the Company will purchase treasury shares during the period March 19th, 2009 to March 16th, 2011. The acquisition of the above shares will be executed by EFG Investment Fund A.E.P.E.Y., member of the Athens Stock Exchange.
A. The Annual General Meeting of the Company's Shareholders on March 16th, 2009, approved the share buy-back program for the acquisition of Treasury (own) shares through the Athens Exchange, in accordance with article 16 of c.l. 2190/1920, as in force, under the following conditions:
1) The Company will acquire own shares up to twenty four months from the date of the Annual General Meeting, hence up to March 16th, 2011.
2) The maximum number of own shares to be acquired will not exceed 2% of the total number of the Company?s shares outstanding at any time; hence it will not exceed 1.220.000 shares.
3) The acquisition of the above own shares will take place at a maximum price of euro 9 and a minimum price of euro 2.13. which is equal to today?s nominal value.
4) The maximum consideration payable for the program amounts to 10.98 million euro.
5) The Board of Directors was authorized to determine all specific terms and details for the implementation of the program.
B. The Board of Directors, in application of the resolution of the above General Meeting, decided on March 16, 2009 that the Company will purchase treasury shares during the period March 19th, 2009 to March 16th, 2011. The acquisition of the above shares will be executed by EFG Investment Fund A.E.P.E.Y., member of the Athens Stock Exchange.