SHARE CAPITAL INCREASE OF FLEXOPACK INTERNATIONAL LTD

The Management of the Anonymous Company under the trade name “FLEXOPACK SOCIETE ANONYME COMMERCIAL AND INDUSTRIAL PLASTICS COMPANY”(the “Company”)  announces that the Company proceeded to the capital support with the amount of two million Euro of its 100% subsidiary company «FLEXOPACK INTERNATIONAL LIMITED» registered and established in Larnaca of Cyprus.

This capital support was held through share capital increase of the subsidiary with payment in cash and issuance of one hundred thousand (100.000) new shares of nominal value one (1, 00) Euro each and with offer price twenty (20, 00) Euro per share.

The said share premium increase in the subsidiary was to the primary purpose of further funding and capital support of the subsidiary company headquartered in Brisbane of Australia under the trade name “FLEXOPACK PTY LTD” (the Cypriot subsidiary holds 100% of the voting rights), given that the latter (FLEXOPACK PTY LTD) extends significantly its turnover and is in immediate need of financial support of this development, both through new investments , as well through reformation of its organizational structure.

The Management of the Company remains strategically and constantly towards the enhancement of the presence and infiltration of its local subsidiary in the geographical area of Australia, to the purpose of further essential development of the Group activity and the all-round and effective service of the said market.

Koropi, April 6 2020  


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