Liberty acquires Aspis

The Board of Directors of Liberty Life Insurance Pcl (LIB) approved the final proposal towards the shareholders of Aspis Pronoia Cyprus Insurance Company Ltd for the acquisition of 100% of the Company. The acquisition concerns 5,201,800 shares of Aspis of a nominal value of CYP 1 each to be acquired for either at a cash consideration of CYP 1.59 mln or through the issue of 10.62 mln LIB shares of 10c nominal value at 15 cent each or 26 euro cents to  Aspis shareholders. The acquisition is subject to approval by both, the Cyprus Superintendent of Insurance and by the Commission for the Protection of Competition.