Mitsides holds 91.14%
of
Mitsides Public
Company Ltd would like to inform the investing public that on 17/3/2010 it acquired
45.57% of the share capital of the associated Serbian company Mitsides Point
A.D., which was held by the Serbian Zitomlin A.D. Beograd (100% subsidiary of
East Point Holdings Ltd) against the sum of €1,128,590 as well as 20.59% of the
share capital of Mitsides Point A.D, which was held by Blue Azul Investments
Ltd (100% subsidiary of Mitsides Public Company Ltd) against the sum of
€509,913.
It is noted that
Mitsides Public Company Limited, together with its subsidiary Blue Azul
Investments Ltd, already holds 45.57% of the share capital of
Pursuant to the
provisions of the Serbian Law on the Public Takeovers (Official Gazette RS No.
46/2006 & 107/2009), Mitsides Public Company Ltd must submit a Public Offer
within the next 14 days for the acquisition of the remaining 8.86% of the share
capital of Mitsides Point A.D, which is held by the public. If it acquires more than 95% of its share
capital after the end of the Public Offer, Mitsides Public Company Ltd is
obliged to acquire the remaining sum at the
With the finalization
of the procedure, Mitsides Public Company Ltd will release an announcement,
pursuant to Article 5.2.1.17(7) of the Regulatory Decisions of the CSE Council
in relation to the CSE Markets.
Mitsides Public
Company Ltd also announces that the Board of Directors will meet on Monday,
March 29, 2010 to:
1. Approve the audited
consolidated financial statements for the year ended December 31, 2009.
2. Setting of the date
of the Annual General Meeting.
3. Possible payment of
a dividend.
4. Review of the
course of acquisition of the Serbian company