SEC approves ProChoice bid for CPI

The Securities and Exchange Commission has given its permission for the publication of the public offer document issued on October 29, 2007 by A.L ProChoice Group Public Ltd seeking to submit a public offer to the shareholders of CPI Holdings Public Ltd.
A.L ProChoice Group Public Ltd together with the persons that act in agreement with it holds 20,098,794 shares that correspond to 82.44% of the total issued share capital of CPI Holdings Public Ltd.
The proposed consideration is 7 new shares of A.L ProChoice Group Public Ltd for every 2 shares of CPI Holdings Public Ltd. The new shares that will be offered as a consideration will not participate in the issue of rights and warrants, since they will be issued after the aforementioned issues of rights and warrants.
A.L ProChoice Group Public Ltd has not set any requirements for the success of the Public Offer and committed to accept all the aforementioned shares irrespective of the percentage of acceptance. The Public Offer is not subject to any approval. The period of acceptance will start on November 6, 2007 and will expire on December 17, 2007 at 1.30 pm.
The Document dated October 29, 2007 contains full information on the Public Offer, the consideration that will be offered and the detailed description of the procedure of the PO acceptance. The PO Document will be posted to the shareholders of CPI Holdings Public Ltd on November 6, 2007.
From November 6, 2007, the Public Offer Document will be available free of charge in electronic form at the CSE website, www.cse.com.cy.