A. Constantinou holds 86.9% of Constantinou Bros after PO

Andreas Constantinou announced that the public offer for the acquisition of a minimum 50% plus 1 share and a maximum 100% of the issued share capital of Constantinou Bros Hotels Public Company Ltd expired successfully on October 2, 2007.
The total rate of acceptance by the shareholders of CBH stood at 51.9% since the acceptances that were submitted were for 83,358,247 shares of CBH and the total stake of the Offeror in CBH has reached 86.9% of its share capital.
So long as the Public Offer has been submitted for the acquisition of a minimum 50% plus 1 share of the issued share capital of CBH and the Company has received acceptances that correspond to 86.9% or 139,608,232 shares if added in the percentage that the Offeror already holds, the Public Offer is successful. It is noted that the acceptances include the 56,249,990 shares, a percentage of 35% held by Agathoclis Constantinou, brother of the Offeror, who had committed irrevocably to accept the Public Offer.
The consideration of 26.78 cents cash per share will be paid to the shareholders of CBH who accepted the Public Offer within the period of 14 business days from the current announcement with the dispatch of cheques to the beneficiaries.