Demetra Investments declares 2c dividend

The Board of Directors of Demetra Investments Public Ltd (DEM) has decided to propose to the Annual General Meeting the payment of a dividend of 4% on the nominal value of the share (50 cents), that is, 2 cents (EUR3,445) per ordinary share.  Given that it will be approved by the AGM, the dividend will be paid to the shareholders registered in the Shareholders’ Register at a date to be announced following the AGM. 

The Annual General Meeting will take place on Wednesday, June 13, 2007 at 6.00 pm at Hilton Park hotel in Nicosia.

Following the AGM, the Board of Directors have decided to hold an Extraordinary General Meeting to approve the following resolution:

““That the Board of Directors be authorized to proceed to buyback of up to 2,000,000 own shares pursuant to article 57A of the Company’s Law Chapter 113. The minimum and maximum acquisition price of shares will not exceed (5%) of the average market value of transactions carried out in the Cyprus Stock Exchange over the last five trading sessions prior to the acquisition of the shares. The company can buy back the maximum number of shares allowed by the law within the period of twelve months from the approval of the current resolution. The shares can be acquired either by private agreement or by buying from the market and the duration that can hold the shares cannot exceed two years from the date of acquisition”.

The Program will be effective from March 26, 2007 to September 30, 2007. The possession of those shares should not exceed two years.