S & B ΒΙΟΜΗΧΑΝΙΚΑ ΟΡΥΚΤΑ Α.Ε.
Announcement of the subscription price of new shares within the framework of a share capital increase in cash and pre emption rights in favour of existing shareholders
S&B Industrial Minerals S.A. (the "Company") announces that its Board of Directors convened on August 5, 2009, and decided the following:
Following the relevant authorization of the June 16, 2009, Annual General Meeting (AGM) of the Company's shareholders to the Board of Directors of the Company to determine the subscription price of the new common, with voting rights shares to be issued within the framework of the increase of the Company's paid up share capital by euro 10,356,440 in cash and the issue of 10,356,440 new common ordinary shares, each with a nominal value of euro 1.00 (the "new shares") and the granting of pre-emption rights in favour of the Company's existing shareholders at a ratio of 1 new share for 3 existing ones, the Board of Directors, taking into account the aforementioned AGM's decision according to which the subscription price of the new shares can be higher than the market price of the Company's shares at the ex-rights date, decided and announces that:
(a) The subscription price of the new shares will be euro 4.00 per new share.
(b) Following the completion and full subscription of the aforementioned share capital increase, the Company's paid up share capital will amount to euro 41,425,760 divided into 41,425,760 common shares, with a nominal value of euro 1.00 each, while the total amount of the difference between the nominal value and the subscription price of the new shares, namely euro 31,069,320, will be credited to the "Paid-in Surplus Capital" account.
(c) Based on the above subscription price of the new shares, the amount of the total gross proceeds from the said share capital increase, in case of full subscription, shall be higher than the amount suggested in the 21.05.2009 Report of the Board of Directors of the Company. In case of full subscription, the total gross proceeds are expected to amount to euro 41,425,760.
(d) The ex rights date, the pre-emption rights exercising period and the pre-emption rights trading period at the ATHEX will be determined by the Company's BoD and shall be communicated to the shareholders of the Company with a later announcement.
Following the relevant authorization of the June 16, 2009, Annual General Meeting (AGM) of the Company's shareholders to the Board of Directors of the Company to determine the subscription price of the new common, with voting rights shares to be issued within the framework of the increase of the Company's paid up share capital by euro 10,356,440 in cash and the issue of 10,356,440 new common ordinary shares, each with a nominal value of euro 1.00 (the "new shares") and the granting of pre-emption rights in favour of the Company's existing shareholders at a ratio of 1 new share for 3 existing ones, the Board of Directors, taking into account the aforementioned AGM's decision according to which the subscription price of the new shares can be higher than the market price of the Company's shares at the ex-rights date, decided and announces that:
(a) The subscription price of the new shares will be euro 4.00 per new share.
(b) Following the completion and full subscription of the aforementioned share capital increase, the Company's paid up share capital will amount to euro 41,425,760 divided into 41,425,760 common shares, with a nominal value of euro 1.00 each, while the total amount of the difference between the nominal value and the subscription price of the new shares, namely euro 31,069,320, will be credited to the "Paid-in Surplus Capital" account.
(c) Based on the above subscription price of the new shares, the amount of the total gross proceeds from the said share capital increase, in case of full subscription, shall be higher than the amount suggested in the 21.05.2009 Report of the Board of Directors of the Company. In case of full subscription, the total gross proceeds are expected to amount to euro 41,425,760.
(d) The ex rights date, the pre-emption rights exercising period and the pre-emption rights trading period at the ATHEX will be determined by the Company's BoD and shall be communicated to the shareholders of the Company with a later announcement.