|
PRESS RELEASE |
|
31/05/12
To inform investors, the company's management announced that the shares of our company, according to a decision by the Board of Directors of the Athens Stock Exchange at their meeting on 07.04.2011, were included in the supervision category from Friday 08.04.2011. The reasons for their inclusion were the presence of outstanding obligations as well as losses of more than 30% of equity, without convening a parallel General Assembly to increase its share capital. As far as existing overdue obligations, as they appear in the financial statements on 31/12/2011, these have been covered with the issuance and coverage of the debenture loan which amounts to 26,450,000 euros. This change is already reflected in the published financial statements of the first quarter of 2012. Regarding the second reason, the company's management has made all necessary actions for the recovery of the financial results of the group.
31 May 2012
Yalco Management |
For further information, please contact:Mr. George Makris, Executive BoD member - Supervision of Shareholders & Corporate Announcements Department, Socrates D. Constantinou & Son S.A., e-mail: makris@yalco.gr, tel: (+30)210 629-9999 fax:(+30)210 800-0866 or Mr. Nicolas Bornozis, President, Capital Link Inc. in New York at (212) 661-7566. The press release in question as well as any additional information are available on Capital Link's website www.capitallink.com.
|
|
