S&B Industrial Minerals S.A. (the Company) announces that fractional shares have resulted by the share capital increase approved at its Annual General Meeting of 17 June 2010. The Company's share capital was increased through the capitalization of tax free reserves and the issue and free distribution of bonus shares to the Company's shareholders at a ratio of one (1) new share for every four (4) existing shares.
Pursuant to article 44a of L. 2396/1996, as it stands in effect, and decision 13/375/17.3.2006 of the Board of Directors of the Hellenic Capital Markets Commission (HCMC), the Company invites the holders of fractional shares to either sell such shares or round them up to the nearest whole number of shares until 9 February 2011, when the relevant six-month deadline provided by the Greek Law, expires.
Following the expiration of the afore-mentioned deadline, any outstanding fractional shares will be sold according to the procedure provided in the Regulation of the Athens Exchange (ATHEX). The procedure requires the approval of the HCMC and the appointment of a member of the ATHEX that will execute the sale. The proceeds from the sale will be deposited with the Greek Loans and Deposits Fund. The former fractional shares holders will be entitled to receive their portion of the deposited amount on a pro rata basis.
Further information on the matter, such as the date of sale of the fractional shares, the result of the sale, the date of award of the proceeds of the sale to the beneficiaries, as well as the necessary documentation that shareholders must submit to the Greek Loans and Deposits Fund, will be timely announced by the Company at a later date.