Suphire and Ischis win approval to reduce capital

Suphire Holdings Pcl (SUP) announced that on December 13, 2006 the Nicosia District Court issued a decree, which ratified the reduction of the Company’s capital. The decree will be submitted to the Department of the Registrar of Companies and Official Receiver, pursuant to the relevant law.
Pursuant to the above decree, the issued share capital, which amounts to CYP12,400,886.30 (EUR 21,465,962) divided into 124,008,863 ordinary fully paid shares of CYP0.10 each, will be reduced to CYP6,200,443.15 (EUR10,732,981) divided into 124,008,863 ordinary fully paid shares of CYP 0.05 each.
The nominal value of the share will be reduced from 0.10c each to 0.05c each.

Ischis Investments Pcl (ISXI) also announced that on December 14, 2006 the Nicosia District Court issued a decree, which ratified the reduction of the Company’s capital. The decree will be submitted to the Department of the Registrar of Companies and Official Receiver, pursuant to the relevant law.
Pursuant to the above decree, the issued share capital, which amounts to CYP 5,500,000 (EUR9,520,512) divided into 11,000,000 ordinary fully paid shares of CYP0.50 each, will be reduced to CYP1,100,000 (EUR1,904,102) divided into 11,000,000 ordinary fully paid shares of CYP 0.10 each.
The nominal value of the share will be reduced from 0.50c each to 0.10c each.