News
Shares Reverse Split
17.07.2006
The Board of Directors of the company IMAKO MEDIA ANONYMOUS COMPANY OF MEANS OF MASS INFORMATION, under the distinctive title IMAKO MEDIA S.A., informs investors that the first repeated Ordinary General Meeting of the shareholders taken place on June 22nd, 2006, decided, among others, the following:
1. A share capital increase of 7.174.335 Euros, through capitalization of reserve funds from the following accounts: a) 6.969.662,12 Euros from the account “Difference from the issuance of shares above par” and b) 204.672,88 Euros from the account “Readjustment difference pursuant to article 28 of law 3091/2002” by increasing the nominal value of each share from 0,30 Euros to 0,73 Euros.
2. An increase of the nominal value of the shares from 0,73 Euros to 1,46 Euros with simultaneous decrease of the number of shares outstanding from 16.684.500 to 8.342.250 common registered shares (reverse split), in the proportion of one new share for each two old shares.
3. A share capital decrease of 9.176.475, 00 Euros by decreasing the nominal value of the shares from 1,46 Euros to 0,36 Euros for writing-off of losses of preceding fiscal years from the account “Loss carried forward”. Therefore, the Company’s share capital amounts to 3.003.210 Euros divided into 8.342.250 common registered shares of nominal value of 0,36 Euros each. On July 3rd, 2006 the K2-9540 decision of the Minister of Development, which approved the amendment of the relevant article of the Company’s articles of association, was registered in the Register of Anonymous Companies. The Board of Directors of Athens Stock Exchange in its meeting of July 13th, 2006:
a) was informed about the increase of the nominal value of the 16.684.500 shares of the Company from 0,30 Euros to 0,73 Euros each.
b) approved the listing on the Stock Exchange of 8.342.250 new shares, of nominal value 1,46 Euros each, in replacement of the 16.684.500 common registered shares outstanding, of nominal value 0,73 Euros each and
c) was informed about the decrease of nominal value of 8.342.250 shares of the Company from 1,46 Euros to 0,36 Euros each. By resolution of the Company’s Board of Directors, the 18th July of 2006 is set as the last day of trading on the Stock Exchange of the Company’s 16.684.500 common registered shares outstanding. From the following working day on July 19th, 2006 until July 25th, 2006, the trading of the Company’s shares shall be suspended, so that their replacement is completed, as provided for below. The beginning of trading of the 8.342.250 new shares on the Stock Exchange with the new nominal value of 0,36 Euros per share is set for the July 26th,2006. From the same date, the price of initial admission to trading of the Company’s shares on the Stock Exchange shall be determined pursuant to the Regulation of Athens Stock Exchange. For more information the shareholders may address to the Company’s Investor Relations Office (tel. 210 2705300 Mr. Aggelos Bairaktaris).
