Autohellas S.A. announces it's decision to proceed into capital restructuring and return of share capital to the company's shareholders at the amount of euro 1,3 per share.
The company's Board of directors, taking into account the company's conservative capital structure, the stable over the years performance, the high level of equity, the positive cash flow, the company's future investment program, as well as it's high borrowing capacity, has decided to ask the Extraordinary Shareholders meeting to approve the company's capital restructuring plan, aiming to improve the company's own capital efficiency for the benefit of its shareholders.
The board of directors estimates that the company's operating activities, the strategic priorities, and the expected return will not be effected in a negative way, while the financial ratios will remain strong after the completion of the proposed restructuring.
The extraordinary shareholders meeting on the 15th of February 2008, has approved a share capital return of euro 47,268,000.00, by paying shareholders in cash 1,3 Euro per share.
The board of directors estimates that, under the condition that all necessary approvals have been given, the capital restructuring and the return of share capital to the company's shareholders will be completed within the next 3 months.
The date, on which the shareholders will have the right for the share capital return will be announced as soon as the company receives the relevant approvals by the authorities involved.