Aristo dividend reinvestment shares list on CSE

The CSE Council announced that it has accepted the listing of 5,802,315 shares of Aristo Developers Plc, which have resulted from the Dividend Reinvestment Plan. It is noted that the above shares will be incorporated in the already listed share capital of the Company, which will rise to 134,232,915 shares. Trading will commence on Thursday, March 8, 2007.

At the meeting held on 27/12/2006, the Board of Directors approved the dividend reinvestment plan of the approved interim dividend of CYP0.037 per share, according to which the Company granted a discount of 12% on the exercise price of the right to the shareholders who selected to reinvest the net sum of the payable dividend.

A total net dividend of CYP3,870,040 was reinvested in 6,242,000 shares against CYP0.62 per share.
The Company held 439,685 shares from buyback, which would be distributed for the reinvestment plan. Therefore, there was a need for the new issue of only 5,802,315 shares in order to supplement the total need for 6,242,000 shares.