Liberty to raise CYP 2 mln in fresh capital

Liberty Life Insurance Pcl (LIB) announced that in order to strengthen the Company for expansion and growth purposes and in order to transfer it to an upgraded CSE Market, the Board of Directors decided to propose to the Extraordinary General Meeting on March 16, 2007 the approval of the issue of additional capital.
The proposal concerns the issue of 13,333,334 shares of nominal value CYP0.10 each, which will be distributed to strategic investor/s at the price of CYP0.15 (EUR0.26) per share cash, with which the Company will be strengthened with CYP2,000,000.
The Company’s aim is to take advantage of the investing opportunities that may emerge concerning the strategic investments, the acquisition or participation in other companies or businesses and/or life portfolios at the sole discretion of the Board of Directors.
At the current stage, the Company has nothing to announce and will be in constant contact with its shareholders and the investing public in order to inform them on the latest developments.