Conversion of Founder Warrants


 

TIDMATE 
 
RNS Number : 1608E 
Agua Terra Limited 
15 December 2009 
 

Agua Terra Limited 
 
 
Exchange of founder warrants for new Shares 
 
 
For immediate release 
15 December 2009 
 
 
The board of directors of Agua Terra Limited (the "Company" or "Agua Terra") 
announce that following the passing of written resolutions yesterday by holders 
of over 50 per cent. of the Company's share capital, each holder of Agua Terra 
founder warrants ("Founder Warrants") is to be offered new common  shares of the 
Company ("Shares"), credited as fully paid, in lieu of the Founder Warrants 
currently held. 
 
 
4,531,250 Founder Warrants are held by shareholders who held or were allotted 
Shares on 26 September 2008 on the basis of one Founder Warrant for each Share. 
On the basis that Agua Terra intends to issue further Shares in the future, the 
Company has been advised that the existence of the Founder Warrants has the 
effect of making new Shares less attractive to new investors, compared to a more 
straightforward capital structure. Accordingly it is proposed that the Founder 
Warrants be cancelled in consideration for which holders of Founder Warrants 
would be allotted one new Share for every 2.335198 Founder Warrants held. 
 
 
Holders of Founder Warrants are today being sent a circular with a consent form 
to approve the cancellation of their Founder Warrants and allotment to them of 
new Shares. Fractions of Shares will be disregarded. Full conversion would 
result in the allotment of up to 1,940,480 new Agua Terra shares, increasing the 
number of Agua Terra shares in issue to up to 6,471,730. 
 
 
 
 
Enquiries 
 
 
Agua Terra Limited 
Markos Kashiouris, Chief ExecutiveTel: +44 (0)20 7581 1234 
 
 
Fairfax I.S. PLC, Nominated adviser and broker 
David Floyd and Rachel Rees 
           Tel: +44 (0)20 7598 5368 
 
 
  Notes to Editors 
 
 
Agua Terra Limited 
Agua Terra Limited (LSE: ATE) is the first development company dedicated 
exclusively to high quality mixed-use leisure real estate projects in Southeast 
Europe to be quoted on AIM. The Company, whose shares were admitted to trading 
on AIM in October 2008, aims to establish itself as a leading developer and 
operator of high quality mixed-use leisure real estate projects in Greece and 
Cyprus. The Company's initial focus is on development opportunities within 
Greece and intends to expand into Cyprus within the next two years, when 
circumstances allow. 
 
 
Agua Terra has recently launched its first project, "Mykonos Azure" on Mykonos 
island, Greece. Sales are currently underway and first deliveries are expected 
in 2010. 
 
 
Agua Terra was founded by Markos Kashiouris, Peter Economides and Yiannis 
Panayi, the principal shareholders of the company, who control Sol Terra 
Developers Limited, Totalserve Management Limited and Aqua Sol Hotels Public 
Company Limited, some of the leading real estate development, financial services 
and hotel companies in the eastern Mediterranean. The principal shareholders 
have collectively over 50 years' experience in real estate and have completed or 
advised on over $3 billion of real estate projects. They possess extensive local 
knowledge and contacts, as well as relationships with an international network 
of operators, architects and designers, marketing and branding companies and 
financial institutions. The principal shareholders also control Terra Sotheby's 
International Realty, the licencee of Sotheby's International Realty in the 
eastern Mediterranean. 
 
 
Agua Terra Limited is incorporated in the BVI and has local offices in the 
United Kingdom, Greece  and Cyprus. 
 
 
www.agua-terra.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 CONILFLEFELELIA
Agua Terra (LSE:ATE)
過去株価チャート
から 5 2024 まで 6 2024