UL transferred 39% of USB to Schoeller – Path

Universal Life Insurance Public Company Ltd announced that, during the Board Meeting held February 6, 2007, it decided to transfer the 39.07% of the share capital of Universal Bank Public Ltd to the companies Schoeller Holdings Ltd and Path Holdings Ltd, in acceptance of the Public Offer and according to the signed selling agreement with the companies, dated 17/11/2006.
It is noted that Universal Life and the buyers have agreed that in the case where any other shareholder other than Universal Life accepts the Public Offer, then Universal Life and the buyers will take all necessary measures in order for them to dispose the necessary ratio of shares in order to ensure equal treatment of all Universal Bank Public Ltd shareholders in relation to of the Public Offer.

The stake of UL thus declines from 49.06% to 9.99%, while the stakes of Schoeller Holdings Ltd and Path Holdings Ltd increase from 6% to 25.495% each with the trades booked at EUR 1.56 per share.