CARS MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COMPANY S.A
Increase of Participation in the subsidiary PARNASSE S.A. AGENCE D ASSURANCE
According to the Decision of the Board of Directors of MOTODYNAMICS S.A. dated 16/11/2007, it has been unanimously approved to acquire a thousand (1.000) shares of the subsidiary Company (by 75%) MOTODYNAMICS INSURANCE AGENTS S.A. from the Company PARNASSE S.A. AGENCE D ASSURANCE, which participates in the capital of the above subsidiary with the percentage of 25%.
Subsequently to this acquisition, MOTODYNAMICS S.A. will possess the total (100%) shares of MOTODYNAMICS INSURANCE AGENTS S.A.
The price will amount to thirty thousands (30.000) Euro, which corresponds to the nominal value of shares of MOTODYNAMICS INSURANCE AGENTS S.A.
It was further approved that the Shares Transfer Agreement will be signed up to 30/11/2007. The members of the Board of Directors unanimously granted the authority to the Managing Director of MOTODYNAMICS S.A., Mr Konstantinos Kapagiannidis, to sign and validate the relevant Agreement.
Subsequently to this acquisition, MOTODYNAMICS S.A. will possess the total (100%) shares of MOTODYNAMICS INSURANCE AGENTS S.A.
The price will amount to thirty thousands (30.000) Euro, which corresponds to the nominal value of shares of MOTODYNAMICS INSURANCE AGENTS S.A.
It was further approved that the Shares Transfer Agreement will be signed up to 30/11/2007. The members of the Board of Directors unanimously granted the authority to the Managing Director of MOTODYNAMICS S.A., Mr Konstantinos Kapagiannidis, to sign and validate the relevant Agreement.