ITTL proceeds with share issue

ITTL Trade Tourist & Leisure Park Plc announced that on March 31, 2009 the Securities and Exchange Commission approved the Prospectus on the issue and listing of new shares and warrants, which had been prepared pursuant to the Public Offering and Prospectus Law 2005.
The Prospectus concerns the issue and the total offer of up to 17,500,000 new shares of nominal value EUR0.50 each to the investing public with a sale price of EUR0.75 per share as follows:
– 9,400,000 shares will be disposed to the shareholders of Woolworth (Cyprus) Properties Plc, who will be registered in the Central Register/Depository on the Record date,
– 5,875,000 shares will be disposed with private placement to professional investors and to a limited number of persons and,
– 2,225,000 shares will be disposed with a Public Offer to the investing public.
The Prospectus also concerns the issue of up to 23,500,000 Warrants 2009/2013, which will be allocated gratis to the shareholders registered at the date of issue of the new shares, after the finalization of the Public Offer to the ratio of 1 warrant for every 5 shares held. Each warrant will give its holder the right to acquire 1 share at the price of EUR1.25. The period of exercise will be November 1 – 30, 2013.
The exact timetable of the Public Offer, including the start and expiry date of the Public Offering as well as the Record Date will be announced at a later stage. CISCO are the lead managers of the issue.