Laser calls EGM to approve rights issue

The Board of Directors of Laser Investments (LAS) has decided to call an Extraordinary General Meeting on July 27, 2007 at 5.00 pm at the Company’s Head Office, Nicosia seeking approval to proceed with a rights issue. The EGM will be called to approve the Board to proceed with the issue and allocation of 19,635,827 shares of nominal value CYP0.035 (EUR0.059) each, which will be distributed in order of precedence to the existing shareholders of the Company at the price of CYP0.175 (EUR0.30) each.
The shares will be allocated in the form of Rights. For every issued share, 1 Right will be allocated and for every two Rights with an exercise price of CYP0.175 (EUR0.30), 1 share of nominal value CYP0.035 (EUR0.059) will be allocated.
The Board of Directors is also authorized to cooperate with the Company’s consultants in order to take all the necessary measures for the issue, allocation and listing of the Rights in the CSE, as well as the shares that will result from the exercise of Rights, pursuant to the relevant Laws and Regulations.