MOTODIKTIO S.A., subsidiary company of MOTODYNAMICS S.A., decided at its Extraordinary General Assembly of 27/08/2007 the cancellation of its previous decision dated 14/03/2007, regarding the increase of its share capital at the sum of 94.956 Euros.
Following the cancellation of the increase of the share capital of the subsidiary company MOTODIKTIO S.A., the Board of Directors of the parent company MOTODYNAMICS S.A. decided unanimously at the meeting of 29/08/2007 the retraction of the decision No.137, dated 14.03.2007, as for the subject that concerned the participation of MOTODYNAMICS S.A. in the above mentioned increase at a percentage of 51%, corresponding to the sum of 48.427,56 Euros, and also decided the cancellation of payment of the relevant sum.
The cancellation of increase was decided by the Extraordinary General Assembly of MOTODIKTIO S.A. because at the first half-year period 2007 the company sales increased considerably, with the result that the total equity capital amounts above the 1/10 of the paid up capital, and concretely in the sum of the 25.189,25 Euros.
The positive course of MOTODIKTIO S.A. is expected to continue during the following months. Consequently, the need of increase of the share capital of the company is not direct, while it may be re-examined in the end of year 2007, provided that this may be considered necessary.