Laser EGM approves issue of 9.15m shares for King Franchises

The Board of Directors of Laser Investments Group Plc announced that the Extraordinary General Meeting that took place on Friday, October 19, 2007 at the Company’s Head Office examined and approved unanimously the resolution allowing the company to expand its sphere of activities and seek to be released from the investment restrictions.
The EGM also approved a second resolution according to which and taking into account the evaluation of King Franchises Ltd, which was carried out pursuant to the provisions of article 47B of the Companies’ Law Chapter 113, the Board of Directors is authorized in a period of one year to proceed with the issue and allocation of 9,147,246 new shares of nominal value CYP0.035 each at the price of EUR0.30 per share as an exchange for the acquisition of 100% of the issued share capital of King Franchises Ltd”.