Laser EGM approves share issue at EUR 1/share

The Extraordinary General Meeting of Laser Investment Group Plc held on June 17, 2008 approved a proposal authorising the Board of Directors to proceed with the strengthening of the Company’s capital base by EUR10 mln with the issue and allocation of up to 10 mln new shares of nominal value EUR0.06 each at the price EUR1.00 per new share, which will be allocated to the natural and legal persons that the Board of Directors will decide at its sole discretion.

The EGM specified that the issue should be completed within a period that will not exceed six months from the date of approval of the resolution. Alternatively the EGM also authorised the Board to proceed with the issue of convertible bonds, details of which the Board is authorised to negotiate and decide. The convertible bonds will be effective for 5 years and the conversion will be carried out at the end of each year, starting from the end of the 3rd year from the date of issue of the convertible bonds until the end of the 5th year.

The existing shareholders disclaim their rights for the above issue and allocation of either the new shares or the shares that will result from the convertible bonds.

The Board of Directors is also authorized to proceed with the issue and allocation of new shares of nominal value EUR0.06 each at the price of EUR1.00 per share, which are offered on a pro rata basis to the shareholders who appear in the Company’s register on the record date. The record date will be determined after the date of approval of the Prospectus by the SEC.
These shares are offered to the beneficiaries in the form of Rights to the ratio of 1 Right for every existing share. For every 3 Rights exercised, their holder will be entitled to buy 1 new share against EUR1.00. The payment of the price by the holders who exercise their Rights is carried out at the acceptance of the offer.

All unexercised Rights will be returned to the Board of Directors and will be distributed at its sole discretion under the same terms and price as offered to the existing shareholders.