Aspis stake in Universal Bank at 20%

Aspis Pronoia AEGA and Commercial Value SA announced that with respect to their public offer seeking a minimum 20% and a maximum 50% plus 1 share of the share capital of Universal Bank Public (USB), two days prior to the expiry of the Competitive and Revised Public Offer, the combined stake in the Bank is now 20%.

Aspis and Commercial Value SA said they have received acceptance forms for 89,251 shares, which corresponds to 0.59% of the issued share capital of USB. During the Public Offer and until the closing of the CSE session on May 11, 2007, the Offerors and the companies controlled by them have acquired 2.937,907 shares from the CSE, which corresponds to 19.42% of the issued share capital of USB. 

As a result, taking into account the percentage that the Offerors hold in USB and given that the acceptance forms that have received to date are valid and acceptable by the CSE authorities, the stake that the Offerros hold in USB stands at 20.01% (3,027,158 shares) of the issued share capital of USB. 

A necessary requirement for a successful Public Offer is that the total stake held by the Offerors at the expiry of the period of acceptance is a minimum 20% (3,025,630 shares).  According to the data so far, the Public Offer is already successful. 

In case that the rate of acceptance exceeds 50% plus 1 hare of the share capital of USB, then the rate exceeding 50% plus 1 share will be distributed to those who have accepted the PO on a pro rata basis, so as to reduce the number of shares that the Offerors will acquire and to achieve the equal treatment of those who will accept the offer.