DOCUMENT PROVIDING INFORMATION UNDER LAW 3401/2005 (article 4 par. 2.f.) REGARDING THE COMMENCEMENT OF TRADING OF TITAN SHARES OFFERED TO SENIOR EXECUTIVES OF TITAN CEMENT COMPANY S.A. AND OTHER COMPANIES OF TITAN GROUP IN THE FRAMEWORK OF THE IMPLEMENTATION OF ITS STOCK OPTION PLAN.
Titan Cement S.A. (the Company), following the Informative Material given to the public, in accordance with article 4 par. in the framework of the implementation of Stock Option Plans that have been approved by the Annual General Meetings of Shareholders dated 5/7/2000, 19/6/2002 and 8/6/2004, and in accordance with article 4 paragraph 1e of Law 3401/2005, hereby informs the public, as follows:
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54 Company and Group executives declared in writing their intention to exercise their stock option rights.
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The offer concerned in total 194,180 new ordinary shares of the Company, of a nominal value of € 2 each, 155,080 of which were finally disposed.
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The exercise price has been set to:
- € 14.68 per share for 46,600 shares offered in accordance with the 2000 Stock Option Plan.
- € 2 per share for 108,480 shares offered in accordance with 2004 Stock Option Plan.
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The payment of the purchase amount of the above mentioned shares was completed on 15.12.2006 and amounted to € 901,048.
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The share capital increase by € 310,160, which corresponds to the nominal value of the new shares (155,080 x 2), was decided by the Board of Directors on the 19.12.2006 and the payment of the capital increase was verified in a special Board of Directors session on the above same date (19.12.2006). The excess amount of € 590,088 which resulted for the difference between the purchase price and the nominal value of the above mentioned 46,600 shares, will be recorded to the shares premium account. The Ministry of Development by K2-18038/20.12.2006 and K2-18038(2)/20.12.2006 announcements approved and registered the above capital increase and verification of payment thereof.
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The Company’s share capital, after the above mentioned increase, amounts to € 168,970,408 and is divided into 84,485,204 shares, of a nominal value of € 2 each, 76,916,244 of which are common shares and 7,568,960 are preferred shares with no voting rights.. The share capital of the Company is fully paid up.
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The Company will take all appropriate actions, according to the legislation in force, for the trading of the new shares in the Athens Exchange.
Responsible for compiling this informative material, and ensuring the accuracy of the information presented therein, are:
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Eleni Papapanou, Lawyer, Secretary to the BoD., Halkidos 22A, tel.: 210 2591610
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Elias Moshonas, Group HR Director, Halkidos 22A. tel.: 210 2591277
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Takis Canellopoulos, Investor Relations Officer, Halkidos 22A, tel.: 210 2591531
Interested parties can obtain this informative material from the company’s offices at 22A Halkidos Street, 111 43 Athens, and in electronic form from our website (http://www.titan-cement.com).
For additional information , please contact Mrs. N. Kalesi at the Shareholders Service Department, tel.: 210 2591257, during working hours.
The above announcement was notified to the Athens Exchange and was posted on its website.