ELINOIL S.A
Announcement regarding the Offer Price of the New Shares issued in respect of the Company's share capital increase through payment of cash with preemption right in favor of the existing shareholders
Announcement regarding the Offer Price of the New Shares issued in respect of the Company's share capital increase through payment of cash with preemption right in favor of the existing shareholders
The Board of Directors of ELINOIL HELLENIC PETROLEUM COMPANY SA (hereinafter the "Company") during its session on 29/01/2009 approved the following: Pursuant to the authority given to the Board of directors by the Annual General Shareholders? Meeting dated 26/06/2008 so as to determine the Offer Price of the new shares issued in respect of the Company?s share capital increase, with payment of cash, by the amount of EUR 3,290,000 and the issuance of 6,580,000 new common registered shares, of nominal value EUR 0.50 each (hereinafter the "New Shares") with preemption right in favor of the existing shareholders, and a ratio of 7 New Shares for every 20 existing shares, the Board of directors decided and announces that:
(a) The Offer Price of the New Shares is set at EUR 2.00 each.
(b) Following the aforementioned share capital increase, and should all rights be exercised in full, the Company's share capital will amount to EUR 12,690,000 divided into 25,380,000 shares, of nominal value EUR 0.50 each. The total proceeds are expected to amount to EUR 13,160,000. The total premium of the New Shares, will be accounted for in the "Share Premium Account"
(c) The ex-Rights date, the Rights exercise period and the Rights Trading period in the ATHEX will be determined by the Company?s BoD and communicated through a new announcement.
The Board of Directors of ELINOIL HELLENIC PETROLEUM COMPANY SA (hereinafter the "Company") during its session on 29/01/2009 approved the following: Pursuant to the authority given to the Board of directors by the Annual General Shareholders? Meeting dated 26/06/2008 so as to determine the Offer Price of the new shares issued in respect of the Company?s share capital increase, with payment of cash, by the amount of EUR 3,290,000 and the issuance of 6,580,000 new common registered shares, of nominal value EUR 0.50 each (hereinafter the "New Shares") with preemption right in favor of the existing shareholders, and a ratio of 7 New Shares for every 20 existing shares, the Board of directors decided and announces that:
(a) The Offer Price of the New Shares is set at EUR 2.00 each.
(b) Following the aforementioned share capital increase, and should all rights be exercised in full, the Company's share capital will amount to EUR 12,690,000 divided into 25,380,000 shares, of nominal value EUR 0.50 each. The total proceeds are expected to amount to EUR 13,160,000. The total premium of the New Shares, will be accounted for in the "Share Premium Account"
(c) The ex-Rights date, the Rights exercise period and the Rights Trading period in the ATHEX will be determined by the Company?s BoD and communicated through a new announcement.