Options EGM approves bonus, share issue to Aspis

The Extraordinary General Meeting of shareholders of Options Cassoulides (OPT) approved the increase of the Company’s share capital from CYP 6 mln (EUR 10,3m) divided into 60,000,000 shares of a nominal value of CYP 0.10 (EUR 0.17) each, to CYP 8 mln (EUR 13,7m) divided into 80,000,000 shares of a nominal value of CYP 0.10 (EUR 0.17) each.

The Company’s EGM also approved the following Special Resolutions:

a) The BoD is authorized to proceed with the issue of bonus share warrants at the ratio of 1 share warrant for every 5 shares held of nominal value CYP 0.10 (EUR 0.17) each to all shareholders. Each OPT share warrant will give its holder the right to acquire one ordinary share of nominal value CYP 0.10 (EUR 0.17) each at the price of EUR 1.00; the exercise period is set during the last five business days of October 2009.

b) The BoD is authorized to proceed with a rights issue to all Company shareholders registered at a future specified date. For every 1 OPT share shareholders will receive 1 right, whereby for every 4 rights exercised at the price of CYP 0.2925 (EUR 0.50), each shareholder will receive 1 OPT share.

c) The BoD is authorized to proceed to the issue of 4,635,475 new shares of nominal value CYP 0.10 (EUR 0.17) each at the price of CYP 0.2925 (EUR 0.50) to Aspis Holdings Public Company Ltd (MFS) or any other subsidiary of MFS or to any other company related with the same group of companies. The new shares to be issued will not participate in the rights and warrants issue.