Prochoice calls EGM for issue of shares to CPI

The Board of Directors of A.L. ProChoice Group Public Ltd will hold an Extraordinary General Meeting on August 07, 2007 at the Company’s office in Larnaca, to propose a special resolution authorising the Board to proceed with the issue of up to 15.000.000 new shares without being offered to the shareholders first and the shareholders disclaim their preference rights on those shares.
The shares will be allocated as consideration for the acquisition of up to 100% of the shares of CPI Holdings Public Ltd to the ratio of seven (7) new shares of A.L. Pro Choice Group Public Ltd for every two (2) shares of CPI Holdings Public Ltd.
The main purpose of A.L. ProChoice Group Public Ltd for the acquisition of CPI Holdings Public Ltd is the differentiation of Prochoice investment portfolio in the sectors of properties and corporate attendances, where CPI Holdings Public Ltd is mainly invested, the cost saving with the achievement of economies scale, and the aid of A.L. ProChoice Group Public Ltd capital base.
Following the acquisition, A.L. ProChoice Group Public and CPI Holdings Public Ltd intend to create a bigger and more powerful consolidated group which will also be in a more powerful position. A.L. ProChoice Group Public Ltd already holds the 82.4% of CPI Holdings Public Ltd shares.