Aspis to proceed with USB bid

The CSE Council approved the Public Offer Document for the acquisition of a minimum of 50% plus one share and a maximum 60% of the issued share capital of Universal Bank Pcl (USB), at a cash consideration of CYP 0.90 per share, by the Companies ‘Aspis Pronia A.E.G.A.’ and ‘Commercial Value A.A.E.’. The Public Offer acceptance period commences on 19 September 2006 and ends on 2 November 2006.