Frigoglass S.A.I.C. announces that on Tuesday February 19, 2008, a total of 134,989 of its new ordinary shares will commence trading on the Athens Exchange. The new shares were issued as a result of a share capital increase in the Company's share capital of an amount of Euro134,989 following the exercise of stock options by a total of 11 employees of the Company and of its affiliated companies as follows:
a) 107.318 new shares to 9 beneficiaries at an issuing price of Euro 1 per share (according to the Resolution of the General Assembly of 8.6.2007 and of the Board Resolution of 8.6.2007)
b) 27.671 new shares to 10 beneficiaries at an issuing price of Euro 17,50 per share (according to the Resolution of the General Assembly of 8.6.2007 and of the Board Resolution of 8.6.2007).
The Board of Directors certified the share capital increase, which does not constitute an amendment of the company's Articles of Association, on December 31, 2007, in accordance with the resolutions of the Company's General Meeting and the Board listed above. The Ministry of Development approved and registered the share capital increase with the Registry of Societes Anonymes by virtue of its decisions no K2-18364/24.12.2007 and K2-437/10.1.2008.
The Board of Directors of the Athens Exchange approved on 24.1.2008 the commencement of trading of the above 134,989 new ordinary shares of the Company.
The Board of Directors of the Company has resolved that trading of the above new shares on the Athens Exchange will commence on Tuesday 19.2.2008. The new shares will have been credited to the securities accounts (SAT accounts) of the relevant shareholders before such date.
The opening price of the Company?s shares on the above date will be determined in accordance with the Regulations of the Athens Exchange.