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Press Search \| Monthly Press
25/02/2009
LAMDA DEVELOPMENT S.A. DROMEAS S.A. OFFICE FURNITURE INDUSTRY THRACE PLASTICS CO. HELLENIC FABRICS S.A. FRIGOGLASS S.A. GR. SARANTIS S.A. S & B INDUSTRIAL MINERALS S.A. ALPHA GRISSIN S.A. S & B INDUSTRIAL MINERALS S.A. HELLENIC TELECOM. ORG. Space Hellas GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A. FOURLIS S.A. ALAPIS S.A GR. SARANTIS S.A. MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM NIREUS S.A. NIREUS S.A. MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM ALAPIS S.A EFG EUROBANK ERGASIAS SA. MICHANIKI S.A. MINOAN LINES SA BANΚ OF CYPRUS PUBLIC COMPANY LTD BANΚ OF CYPRUS PUBLIC COMPANY LTD BANΚ OF CYPRUS PUBLIC COMPANY LTD BANΚ OF CYPRUS PUBLIC COMPANY LTD
LAMDA DEVELOPMENT S.A. : Announcement
In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, LAMDA Development S.A. (the Company) announces that following the decision of the Annual General Meeting of the Shareholders of the Company (dated May 22, 2008) and the Board of Directors' resolution (dated May 22, 2008 and February 17, 2009) purchased own shares through the Athens Exchange Member National P&K Securities, as follows: On February 24, 2009 the Company purchased 10.000 shares, with average cost price euro 4,51 per share and total purchase price euro 45.144,76.
DROMEAS S.A. OFFICE FURNITURE INDUSTRY : Press Release
DROMEAS S.A announces that the Board of Councils decided on 16/02/09 to place Ms Maria Theodorou Saregou to the position of company s Auditor.
THRACE PLASTICS CO. : Purchase of Own Shares.
Thrace Plastics Co S.A. in accordance with article 4, par. 4 of the 2273/2003 Regulation of the EU Committee and following the resolution of the Extraordinary General Meeting of the Shareholders of the Company dated November 3, 2008 and the Board of Directors' resolution dated November 4, 2008, proceeded on February 24, 2009 with the acquisition of 2,800 own shares, through the Athens Exchange Member Praxis International Securities, at an average price of euro 0.59 per share. The total value of the transaction amounted to euro 1,655.00
HELLENIC FABRICS S.A. : Announcement.
HELLENIC FABRICS S.A. announces in accordance with article 4 par.4 of Commission Regulation no 2273/2003 of the European Communities and article 16 of l. 2190/1920 "regarding Societes Anonymes" as it stands, that the Company has proceeded to the purchase of own shares, pursuant to the decision of the Annual General Meeting of Shareholders dated 23rd May 2008 and the resolution of the Board of Directors dated 26th December 2008, as follows: - On 24.02.2009, the Company purchased 1,587 shares, with an average purchase price of 0.52 Euro per share and a total purchase value of 818.37 Euro. The above shares were purchased through the securities company "INVESTMENT BANK OF GREECE S.A.".
FRIGOGLASS S.A. : Αnnouncement of Share Buy Back
Frigoglass S.A announces, in accordance with the provisions of art. 4 par. 4 of the European Commission Regulation 2273/2003, that by implementation of the decision of the Extraordinary General Meeting of 5th of September 2008 and the resolution of the Board of Directors of 2nd October 2008, it purchased on 24th οf February 2009 through NATIONAL P&K Securities 14.000 own shares with average purchase price of Euro 2,94 per share and total purchase price Euro 41.256,90.
GR. SARANTIS S.A. : Announcement of significant change to the voting rights according to the L.3556
Pursuant to the L. 3556 and following a notification from its shareholder JASON ENTERPRISES HOLDING SA dated 24/02/09, the company GR. SARANTIS SA announces that its shareholder JASON ENTERPRISES HOLDING SA proceeded on 23/02/09 to sale of shares in GR. SARANTIS SA, thus reducing its participation in the share capital and voting rights of GR. SARANTIS SA from 7.48% (i.e. 2,871,000 shares and voting rights) to 4.99% (i.e. 1,915,500 shares and voting rights).
S & B INDUSTRIAL MINERALS S.A. : Announcement pursuant to Law 3556/2007
S&B Industrial Minerals S.A. announces pursuant to Law 3556/2007 in combination with article 11 of Decision 1/434/03.7.2007 of the Hellenic Capital Market Commission that Mr. KYRIACOPOULOS ULYSSES purchased on 23/02/2009, 300 common shares of our company of a total value of Euro 1.722,00. This transaction has been duly acknowledged to the Company pursuant to article 13 of Law 3340/2005 by Mr. Ulysses Kyriacopoulos, under his capacity as Chairman of the Board of Directors.
ALPHA GRISSIN S.A. : Announcement of Regulated Information according to L3556/30.04.2007 of the Board of Directors of the Hellenic Capital Market Commission about trade acknowledgements (according to L.3340/2005)
According to L3556/30.04.2007 (ar.3 & ar.21) in combination with the ar.11 of the Decision 1/434/03.07.2007 of the Board of Directors of the Hellenic Capital Market Commission and after informed, in 25/02/2009, about trade acknowledgements, from Mr Marios Kapenekakis/ person in managerial position (according to ar.13 of L3340/2005), Alpha Grissin Power and Environmental Control Systems SA trading as Alpha Grissin S.A. informs today, 25/02/2009 the public, that Mr Marios Kapenekakis, Member of the Board of Directors of Alpha Grissin S.A., father's name Michael Kapenekakis, has acquired on 24/02/2009, 4.000 common shares of Alpha Grissin S.A., total worth 5.336,76 euro.
S & B INDUSTRIAL MINERALS S.A. : Announcement pursuant to Law 3556/2007.
S&B Industrial Minerals S.A. announces pursuant to Law 3556/2007 in combination with article 11 of Decision 1/434/03.7.2007 of the Hellenic Capital Market Commission that Mr. KYRIACOPOULOS ULYSSES purchased on 24/02/2009, 300 common shares of our company of a total value of Euro 1.692,00 . This transaction has been duly acknowledged to the Company pursuant to article 13 of Law 3340/2005 by Mr. Ulysses Kyriacopoulos, under his capacity as Chairman of the Board of Directors.
HELLENIC TELECOM. ORG. : 2008 Fourth Quarter results under IFRS to be released on March 27, 2009.
Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announces that it will release its fourth quarter and full year 2008 results under IFRS on Friday, March 27, 2009. OTE's management will host a conference call at 17:00 (GREECE) / 16:00 (CONTINENT) / 15:00 (UK) /11:00 (EASTERN US) following the release, to review the results. Details regarding conference call dial-in and replay numbers as well as the live audio webcast of the conference call, following the results release, will follow. About OTE OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers. Apart from serving as a full service telecommunications group in the Greek telecoms market, OTE Group has also expanded during the last decade its geographical footprint throughout South East Europe, acquiring stakes in the incumbent telecommunications companies of Romania and Serbia, and establishing mobile operations in Albania, Bulgaria, the Former Yugoslav Republic of Macedonia and most recently in Romania. At present, companies in which OTE Group has an equity interest employ over 30,000 people in six countries, and our portfolio of solutions ranges from fixed and mobile telephony to Internet applications, satellite, maritime communications and consultancy services. Listed on the Athens Stock Exchange, the company trades under the ticker HTO as well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE's American Depository Receipts (ADR's) represents ? ordinary share. Additional Information is also available on http://www.ote.gr. Contacts: OTE: Dimitris Tzelepis- Head of Investor Relations Tel: +30 210 611 1574, Email: dtzelepis@ote.gr Nektarios Papagiannakopoulos - Senior Financial Analyst, Investor Relations Tel: +30 210 611 7593, Email: npapagiannakopoulos@ote.gr Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer, Investor Relations Tel: +30 210 611 1121, Email: nkozanoglou@ote.gr Christina Hadjigeorgiou - Financial Analyst Tel: +30 210 611 1428, Email: cchatzigeo@ote.gr Eleni Agoglossaki- Communications & Regulatory Affairs Officer, Investor Relations Tel: +30 210 611 7880, Email: eagoglossak@ote.gr Dimitris Tsatsanis-Financial Analyst Tel: +30 210 6118071, Email: dtsatsanis@ote.gr Eftychia Tourna- Communications & Regulatory Affairs Officer Investor Relations Tel: +30 210 611 7236, Email: etourna@ote.gr Sofia Ziavra- Financial Analyst Tel: +30 210 6118190, Email: sziavra@ote.gr Forward-looking statement Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F for 2007 filed with the SEC on June 24, 2008. OTE assumes no obligation to update information in this release.
Space Hellas : Announcement of Annual Fanancial Report
Space Hellas announces: Annual Financial Report for the period 1/1/-31/12/2008 (In accordance with the law 3356/2007) will be available on the official website of the Athens Stock Exchange www.ase.gr and on the website of Space Hellas S.A. www.space.gr before the opening of the Athens Stock Exchange on Friday March 27, 2009, disclose date to the press for the Financial Statements and Information of Space Hellas and the Group of Companies.
GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A. : Internal Audit Committee recombining
OPAP S.A., announces that according to Law 3340/2005 and resolution 3/347/12.07.05 of the Capital Market Commission BoD, OPAP's BoD decided and approved the recombining of the Internal Audit Committee as follows: Mr. Stavros Theodoropoulos, independent non executive BoD member was appointed as chairman of the Audit Committee. Also, Mr. Theodoros Vardas independent non executive and Mr. Emilios Stasinakis, non executive BoD members, were appointed as members of the Audit Committee.
FOURLIS S.A. : Full Year Results Presentation to the Analysts
On February 25th 2009 and in accordance with art. 292 par. 4 of the ASE Regulation, Mr. Apostolos Petalas, Fourlis Group CEO, presented to the Association of Greek Institutional Investors the FY08 financial results of the Group. In 2008 the Group strengthened its position both in terms of sales and profits considering the additional costs of new IKEA stores (Athens, Greek province and Bulgaria) as well as increased transportation costs due to the port strikes in Greece. Sales grew by 17,1% to euro 784,45 mio y-o-y (FY07: euro 670,08 mio). EBITDA up 21,9% to euro101,73 mio y-o-y (FY07: euro 83,42 mio). Adjusted EBITDA was up 10,5% to euro 86,92 mio (FY07:euro 78,63 mio). - DSGI SOUTH-EAST EUROPE A.E.Β.Ε. (ex Kotsovolos) one off capital gain: euro 23,4 mio (FY07: euro 10,9 mio including ATC sale). - IKEA Preopening expenses FY08: euro 6,3 mio (FY07: euro 6,2 mio). - Other unusual items in FY08 EBITDA (port strikes): euro 2,25 mio PBT up by 16.9% to euro 76,23 mio y-o-y (FY07: euro 65,21 mio). Adjusted PBT figure for FY08 is up 3,5% y-o-y to 62,53 mio (FY07: euro 60,43 mio) since the first quarter of the current year includes, in addition to what is mentioned in EBITDA analysis, euro 1,1 mio one off foreign exchange differences from Romania activity due to hedging policy. NP up 19,2% to euro 55,06 mio y-o-y (FY07: euro 46,18 mio). EPS euro 1,08 (FY07: euro0,91). Retail Home Furnishings division (IKEA) during the twelve month period, realized 32,4% y-o-y increase in sales to euro 334,23 million and euro 38,71 million Profit Before Taxes (FY07 euro39,22 million). The new IKEA store in Athens and the IKEA store in Cyprus operated successfully in 2008, affecting positively the profitability of the division, during the first year of theιr operation. The financial results of this division include euro 6,3 million pre-opening expenses related mainly to the new IKEA store in Athens, but also related to future openings in the Greek province and Bulgaria (FY07 pre-opening expenses: euro 6,2 mio) and euro 2,25 million additional non recurring cost from the port strike in Greece. Retail Sporting Goods division (INTERSPORT), with 28 stores in Greece, 11 stores in Romania, 1 store in Bulgaria and 1 store in Cyprus, realized sales of euro73,21 million (24,5% up y-o-y) and euro 6,50 million Profit Before Taxes 15,1% up y-o-y. Finally the wholesale of electrical and electronics division, realized 5,1% y-o-y increase in sales (euro 377,01 million) and euro 8,73 million Profit before Taxes. The adjusted profit before taxes of this sector is euro 9,83 mio since the first quarter of the current year includes, euro 1,1 mio one off negative foreign exchange differences from Romania activity due to hedging policy.
ALAPIS S.A : Response to Capital Markets Committee letter .
In response to the Capital Markets Committee letter (805/25.02.09) regarding the announcement made by ALAPIS SA (the"Company" on 24.02.09, the Company wishes to inform the investor community that the management has already commenced a review process of the impairment of goodwill in its Detergents and Organic products sectors, in accordance with a) IFRS guidelines and b) the Capital Markets Committee letter (Protocol number: 595/12.02.09) addressed to all companies listed on the Athens Exchange titled: "Clarifications on the application of the responsibilities of issuers within the framework of Law 3556/2007 and the resolutions 1/434/2007 and 7/448/2007 of the Board of Directors of the Capital Markets Committee" and in particular with paragraph 4 thereof, titled: "Fixed asset impairment", which pertains to the material consequences of the current international financial conditions on the value of the companies' fixed assets, as well as the necessity for a review of the impairment on goodwill. Given that the above audit has not been completed yet, it is the non-binding estimate of the Company's management that the impact of such impairment on its EBITDA and net income after minorities will reach approximately euro 70 - 100 million. The Company will provide the investor community with a detailed analysis of the above review, following the publication of its FY2008 financial statements.
GR. SARANTIS S.A. : Tax Audit Results
The company GR. SARANTIS S.A., pursuant to paragraph 4.1.3.1. of the ASE regulation and article 10, paragraph 1 of L.3340/2005, informs the investors community that the tax audit for the fiscal years 2006 and 2007 was completed and amounted to 1,750,346.79 euros. The tax audit results per fiscal year are as follows: - For fiscal year 2006, the tax audit resulted in accounting differences of 1,249,848.71 Euros, against which an income tax of 366,253.01 Euros plus a surcharge of 92,295.99 Euros were charged, resulting in a total of 458,549 euros. - For fiscal year 2007, the tax audit resulted in accounting differences of 4,641,469.24 Euros, against which an income tax of 1,164,164 Euros plus a surcharge of 127,633.59 Euros were charged, resulting in a total of 1.291.797,79 euros. The company had made provisions for the previous years of 1,506,163.46 euros, therefore the remaining amount of 244,183.33 euros will affect the 2008 financial results.
MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM : The decisions taken at the Shareholders' Extraordinary General Meeting
MOTODYNAMICS S.A. announces that its Shareholders' Extraordinary General Meeting was held today, the 25th February 2009, at 09:00 am, at the registered seat of the company in Kifissia (14th km Athens-Lamia National Road). Eight (8) Shareholders were present at this Shareholders' Meeting, representing 1.525.538 common nominal shares (out of 5.130.000 shares), corresponding to 29,74% of the company's registered capital. Therefore, the Shareholders' General Meeting was lawfully convened, forming the legal quorum for all the subjects of the agenda. The Shareholders' Extraordinary General Meeting unanimously approved, by a majority of 100% of the present voting rights, i.e. by 1.525.538 votes, the first subject of the agenda, relating to the change of the Company's registered seat from Kifissia Municipality Attica to Aspropirgos Municipality Attica and the relevant amendment of article 3 of the Company's Articles of Association. Further, the Shareholders' Extraordinary General Meeting approved by a majority of 99,98% of the present voting rights, i.e. by 1.525.219 votes, the election of Messrs Ioannis Karkalemis, Michael Karamichas, Efstratios Papaefstratiou, all being non-executive members of the Board of Directors, and Mr. Paul Laskaris, being an independent non-executive member of the Board of Directors, as members of the Company's Audit Committee, pursuant to art. 37 of Greek Law 3693/2008 "Regarding the harmonization of Greek Legislation to EU Directive 2006/43/EC, for the compulsory audit of the annual and consolidated financial statements and amendment of Directives 78/660/EEC and 83/349/EEC of the Council, as well as the abolition of Directive 84/253/EEC of the Council and other provisions".
NIREUS S.A. : Non-Renewal of Market Maker's Agreement.
NIREUS SA announces that it has agreed jointly with Cyclos Securities, a member of the Athens Exchange, the non-renewal of the contractual agreement for the market making of the company's shares.
NIREUS S.A. : Resolutions of the General Meeting of Bondholders
NIREUS SA announces that the General Meeting of the Bondholders of the Company that was held on February the 24th, 2009 at 15:00 p.m. was attended by person or in proxy by 4 Bondholders representing 73,056% of the Company's outstanding bond capital. The General Meeting of Bondholders approved unanimously the first item of the agenda : the merger by absorption of the Company's 100% subsidiaries Alpino SA, A-SEA SA and Red Anchor SA by NIREUS SA. The General Meeting of Bondholders did not discuss on the second item of the agenda, because the process for the listing of the bonds for trading in the Athens Stock Exchange has not been finalized.
MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM : Share Buy Back.
MOTODYNAMICS S.A. announces in accordance with article 16 of Greek Law 2190/20 and with Regulation no 2273/2003 of the European Comity, pursuant to the decision of the Annual General Meeting of Shareholders dated 30/5/2008 and the resolution of the Board of Directors dated 6/10/2008, that has proceeded on 23/02/2009 to the purchase of 600 own shares with an average purchase price Euro 1,79 per share and a total purchase price Euro 1.089,64. The above 600 shares were purchased through ALPHA FINANCE.
MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COM : Share Buy Back.
MOTODYNAMICS S.A. announces in accordance with article 16 of Greek Law 2190/20 and with Regulation no 2273/2003 of the European Comity, pursuant to the decision of the Annual General Meeting of Shareholders dated 30/5/2008 and the resolution of the Board of Directors dated 6/10/2008, that has proceeded on 24/02/2009 to the purchase of 272 own shares with an average purchase price Euro 1,78 per share and a total purchase price Euro 498,73. The above 272 shares were purchased through ALPHA FINANCE.
ALAPIS S.A : Announcement
The company ALAPIS ABEE (hereafter the "Company"), announces pursuant to article 14 of L. 3556/2007 and following notification received on February 23rd, 2009 by FORTIS GLOBAL CUSTODY SERVICES N.V, that on February 23rd, 2009, the said company proceeded to the sale of Company's shares, and as a result, its total number of shares and total number of voting rights, decreased from 98.159.750 to 98.059.750. Hence, its percentage on the Company's total number of shares and total number of voting rights, changed from 10,01% to 9,99% .
EFG EUROBANK ERGASIAS SA. : Date of Announcement of Full Year 2008 Results
EFG Eurobank Ergasias S.A. would like to inform the investment community that the announcement of the Full Year 2008 Financial Results and the Analysts' Conference Call will take place on Wednesday, 4 March 2009 after the close of trading on ATHEX. The Annual Financial Statements for the year ended 31 December 2008 will be published on Tuesday, 24 March 2009.
MICHANIKI S.A. : Publication of regulated information
MICHANIKI S.A, in accordance with the provisions of law 3556/2007, (art. 3, 21) coupled with the art. 11 of Decision 1/434/3.7.2007 of the Hellenic Capital Market Commission, notifies that the shareholder and President of the Board of Directors of the company, Emfietzoglou Prodromos proceeded on February 20, 23, and 24 2009 with the purchase of 10,000 6,000 and 4,000 registered common shares of total value euro 11,480 euro 6,910 and euro 4,580. Additionally, M. Emfietzoglou, Managing Director, proceeded on February 20 with the purchase of 6,000 registered common shares of total value euro 6,921 on February 23 with the purchase of 6,000 registered common shares of total value euro 6,921 and on February 24 with the purchase of 6,000 registered common shares of total value euro 6,921.
MINOAN LINES SA : Announcement of regulated information according to the Law 3556/2007
The company Minoan Lines S.A. announces that the legal entity (GRIMALDI COMPAGNIA DI NAVIGAZIONE Spa) associated with Mr Emanuele G. Grimaldi Chairman of the Board of Directors (Liable person according to the article 13 of L. 3340/2005) bought 1,250 ordinary shares of a total value of euro 4,715.00 on February 23, 2009 and 1,600 ordinary shares of a total value of euro 6,068.96 on February 24, 2009. The aforementioned announcement is in accordance with L. 3556/2007 (art.3 and 21) and in combination with the resolution of the H.C.M.C. 1/434/3.7.2007 (Art. 11).
BANΚ OF CYPRUS PUBLIC COMPANY LTD : PROPOSED FINAL DIVIDEND, DIVIDEND REINVESTMENT PLAN, ANNUAL GENERAL MEETING
Financial Calendar for 2009 * PROPOSED FINAL DIVIDEND * DIVIDEND REINVESTMENT PLAN * ANNUAL GENERAL MEETING Nicosia, 25 February 2009 A. Announcement of Financial Results and Group Financial Statements for 2008 The Group's Financial Results and audited financial statements for 2008 will be announced on Wednesday, 25 February 2009 and will be posted on the Group's website www.bankofcyprus.com (select Investor Relations). The audited financial statements will be published in the Cypriot and Greek Press on 26 and 27 February 2009. B. Analyst Briefings regarding Financial Results for 2008 The analysts' briefing on the Group financial results for 2008 will take place on Wednesday, 25 February 2009, at 6.00pm. The relevant presentation will be posted on the Group's website www.bankofcyprus.com (Inv. Relations / Presentations). C. Annual Shareholders Meeting The Shareholders' Annual General Meeting will take place on Wednesday, 13 May 2009 at 4.30pm at the Group Headquarters in Nicosia. D. Proposed Dividend At its meeting held today, the Board of Directors of the Bank decided to propose at the Shareholders' Annual General Meeting to be held on Wednesday, 13 May 2009, the distribution of a dividend of euro 0,12 per share. The recommended ex-dividend date is Thursday, 21 May 2009, i.e. buy transactions that take place before market close of the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) on 20th May 2009 will be eligible to the dividend. Furthermore, eligible investors will be shareholders following off the exchange transfers completed on 25th May 2009. It is noted that any transfers of securities between the Central Depository/Registry of the CSE and the Dematerialised Securities System of the Hellenic Exchanges between 21 to 25 May 2009, will be considered and the dividend will be paid according to the register on which the shares are registered on 25 May 2009. The dividend, subject to the approval of the Annual General Meeting, will be paid to the eligible shareholders on Wednesday, 10 June 2009. E. Dividend Reinvestment Plan Investors are reminded that the Bank of Cyprus Dividend Reinvestment Plan ("the Plan") is in force. The applicable discount offered under the Plan is 10%. Based on the 10% discount offered, dividends will be reinvested at 90% of the weighted average closing price of the share at the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) for the first five working days that the share is quoted ex-dividend. Investors can obtain the Terms and Operating Conditions of the Plan and the Application Form for Enrollment or Termination of participation in the Plan (?the Application Form?) from: * the Group's website www.bankofcyprus.com (select Inv. Relations / Shareholder Structure & Share / Dividend Reinvestment Plan) the Group's Shares & Loan Stock Department in Nicosia, tel. (+357) 22 121755 * the Bank's Custody, Shareholders & Derivatives Clearing Department in Athens, tel. (+30) 210 7765 215 Once an investor enrolls in the Plan, his participation remains in force for all future dividends which will be automatically reinvested on his behalf, unless he requests in writing to withdraw from the Plan or unless the Bank suspends or terminates the Plan. Investors are reminded that, for their instructions to be valid for the proposed dividend and for all future dividends, the Company must receive their Application Form at least 10 days prior to the ex-dividend date, i.e. by 11th May 2009. If their Application Form is not timely received, their instructions will only be effective for future dividend payments. If part of an investor's shareholding is registered on the Central Depository/Registry of the CSE and part on the Dematerialised Securities System of the Hellenic Exchanges, the investor has to complete a separate Application Form for each Investor Share Code.
BANΚ OF CYPRUS PUBLIC COMPANY LTD : CONVERTIBLE CAPITAL SECURITIES ISSUE (TIER 1 CAPITAL)
CONVERTIBLE CAPITAL SECURITIES ISSUE (TIER 1 CAPITAL) Nicosia, 25 February 2009 THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR ANY SECURITIES. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN ANY FORM, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, SOUTH AFRICA, OR JAPAN, OR TO ANY OTHER COUNTRY IN WHICH ACCORDING TO THE LAWS OF SUCH COUNTRY, THE OFFER MENTIONED IN THIS ANNOUNCEMENT IS ILLEGAL OR CONSTITUTES BREACH OF ANY APPLICABLE LAW, RULE OR REGULATION. THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY SECURITIES LAW OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ?SECURITIES ACT." At its meeting held today, the Board of Directors of Bank of Cyprus examined, among other matters, the structure of the Group's capital base. The strategic priorities of the Group for the year 2009 focus on maintaining the Group's strong liquidity position, strengthening capital adequacy, and managing risk effectively. According to the Group's audited financial statements as at 31 December 2008, the Capital Adequacy ratio (per Basel II requirements) stood at 11,2% and Tier 1 ratio at 7,2%. The core tier 1 ratio stood at 6,5%. The aforementioned ratios are considered satisfactory taking into consideration the Group's risk profile and its healthy balance sheet. The Board of Directors, taking into consideration the negative economic environment and the importance of maintaining strong and competitive capital adequacy ratios and further strengthening them, has decided to propose to an Extraordinary General Meeting of the shareholders the following: * Issue of convertible capital securities up to euro 645 million, to be offered via a priority right to subscribe to the existing shareholders, which the Group intends to name "Convertible Capital Securities". * Appointment of The Cyprus Investment and Securities Corporation Ltd (CISCO) as Lead Manager of the issue. Within the context of the above, the Bank will take all necessary actions for the approval of the issue by the relevant regulatory authorities. The proposed issue will further strengthen the Group's tier 1 capital. Specifically, the Group's tier 1 ratio as at 31 December 2009 is expected to increase to 10% from 7,2% at 31 December 2008, based on the Group's strategic plan and taking into consideration the proposed amendments to the European Directive regarding the amount of hybrid capital which can be considered as tier 1 capital (35% of total tier 1 capital). The proposed terms of the Convertible Capital Securities issue ("the Convertible Capital Securities") include, inter alia: The Convertible Capital Securities will be issued at par in values of ?1 and multiples thereof. The Convertible Capital Securities of nominal value euro 1 each, will be offered via a priority right to all registered shareholders in the ratio of euro 11 Convertible Capital Securities for every 10 shares held as at Record Date. Shareholders may subscribe to the Convertible Capital Securities (based on the priority rights that will be allotted to them) either by paying the consideration in cash or by exchanging existing Convertible Bonds 2013/2018 of an equal nominal value. The Convertible Capital Securities will bear a fixed annual interest rate of 5,5% for the first five years i.e. until 30 June 2014. In the event that the Convertible Capital Securities are not redeemed on 30 June 2014, the interest rate will be floating and will be equal to the 6-month Euribor in force at the beginning of each interest period plus 3,0%. The Convertible Capital Securities may, at the option of the holder, be converted into ordinary shares during any Conversion Period. The first Conversion Period is 15-30 September 2010 and the Last Conversion Period is 15-31 March 2014. The Conversion Price has been set at euro 5,50 per ordinary share of nominal value euro 1,00. Other investors (shareholders or non-shareholders) including the Convertible Bond 2013/2018 Bondholders may apply to subscribe for any unsubscribed Convertible Capital Securities (Rump) that may arise. The consideration for the subscription to the Rump Convertible Capital Securities could be paid in cash or by exchange of an equal nominal value of existing Convertible Bonds 2013/2018. In the Rump, placement applications from Convertible Bond 2013/2018 bondholders will be given priority over other investors' applications. The Convertible Capital Securities have no maturity date. However, the Convertible Capital Securities may be redeemed in whole at the option of the Bank, at their principal amount together with any accrued interest, on 30 June 2014 or on any other interest payment date thereafter, subject to the prior consent of the Central Bank of Cyprus. The detailed terms of the issue will be announced along with the invitation for the Shareholders' Extraordinary General Meeting which is scheduled for April 2nd 2009. Contact details in relation to the Convertible Capital Securities issue: Cyprus * The Cyprus Investment and Securities Corporation Limited (CISCO) Tel. +357 22 121800 Fax. +357 22 338801 Greece * Bank of Cyprus Investment Division Tel +30 210 77 65 403, Fax +30 210 77 65 419
BANΚ OF CYPRUS PUBLIC COMPANY LTD : Group Financial Results for the year ended 31 December 2008
Group Financial Results for the year ended 31 December 2008
BANΚ OF CYPRUS PUBLIC COMPANY LTD : Presentation -Financial Results 2008
Financial Results 2008

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