Aspis EGM approves share exchange with Aspis Bank

The Board of Directors of Aspis Holdings Public Co. Ltd announced that the Extraordinary General Meeting held on Monday, September 24, 2007 at the Company’s Head Office, 1 Andrea Haliou, 1st floor, Engomi, Nicosia, examined and approved the special resolution for a share swap with Aspis Bank.
According to the resolution, the Board of Directors is authorized within the period of 6 months from the current resolution to proceed with the issue and allocation of up to 8,750,000 new shares of nominal value EUR0.86 each at the price of EUR1,367 to person and/or persons and to such ratios that the Board of Directors decides as an exchange for the acquisition of 3,200,000 shares of Aspis Bank SA at the price of EUR3.74 per share for a deal value of EUR 11.9 mln.
The existing shareholders disclaim their right with regard to the aforementioned issue and allocation of new shares.