CTC extends Ermes offer

Due to the significant interest expressed by the shareholders of Woolworth (Cyprus) Properties Public Ltd and the investing public for the acquisition of shares of Ermes Department Stores Public Ltd within the framework of the Public Offer of Cyprus Trading Corporation Public Ltd, the Company decided to give an extension to the date of acceptance of the Public Offer.

The offer has been extended to lapse until October 10.

Following the finalization of the Public Offer, the shareholders of Ermes will be allocated 1 bonus warrant for every 5 Ermes shares, as well as a dividend of 1.6 cents per share.

All shareholders who wish to participate in the Public Offer are urged to fill in and sign the relevant Application Form and submit it along with a cheque payable to “Cyprus Trading Corporation Public Ltd” at CISCO’s offices in Nicosia or Limassol or CTC’ office, Shacolas Court, Old Nicosia-Limassol Road, Nicosia.

It is reminded that the shareholders of Woolworth (Cyprus) Properties Public Ltd, who have the advantageous right to acquire shares in Ermes Department Stores Public Ltd at the preferential price of 24 cents, will continue to hold their shares in Woolworth, either they exercise the right or not.