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24.03.2010
Extraordinary announcement of the Board of Directors
Extraordinary announcement of the Board of Directors
The Management Board passed Resolution number 1/2010 (III.23) with regard to the detailed terms and conditions of the future share exchange option of the Genesis Energy (GEI) shareholders on 23 March 2010. Acknowledging that, as per the previously signed and modified SPA and the agreement signed on 16 March of 2010 with the new investors, the shareholders of Genesis Energy shall have the opportunity to exchange their shares for Genesis Solar Corporation (GSC) shares at a later point of time, the Management Board has set out the terms and conditions of such exchange shall as follows:
- The condition precedent of the share exchange is that the shares of GSC have been listed on a US stock exchange.
- The date of the exchange will be determined later and shall be subsequent to a US stock exchange listing.
- The exchange of GEI shares for GSC shares takes place in the proportion of 1:1, independently from the share price of GEI or GSC at the time of exchange.
- Only those shareholders may participate in the exchange who have registered their shareholdings with GEI as at 7th of April 2010, the date of the ownership identification.
- The shareholders registration process will be carried out through the Central Clearing House and Depository (Budapest) Ltd. - KELER Zrt. The Management Board draw the kind attention of all shareholders, that only those shareholders will be qualified for the future share exchange option whose ownership together with the number of shares owned by them has been duly evidenced under their own names (not under the name of the depository bank) by the ownership identification of the Central Clearing House and Depository (Budapest) Ltd. - KELER Zrt. for that particular day (7th April 2010).
Therefore the shareholders wishing to be qualified for the future share exchange are kindly requested to inform their depository bank or broker company where the securities account is managed asking them to confirm to the KELER Zrt. their ownership status as Genesis Energy’s shareholder and the number of Genesis shares possessed by them as at 7th of April, 2010. Based on this ownership identification provided by KELER the person of and the number of the shares owned by the shareholders will be duly registered in the Registry Book of the Company. The registered shareholders will be entitled to exchange their GEI shares for GSC shares up to the number of shares held and registered in the Registry Book of the Company at 7th April 2010.
Budapest, 24 March, 2010
For further information please contact:
Jeno Kunovits
Deputy CEO
Genesis Energy Investment Plc.
Szent István krt. 18., Budapest
H-1137 Hungary
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The Management Board passed Resolution number 1/2010 (III.23) with regard to the detailed terms and conditions of the future share exchange option of the Genesis Energy (GEI) shareholders on 23 March 2010. Acknowledging that, as per the previously signed and modified SPA and the agreement signed on 16 March of 2010 with the new investors, the shareholders of Genesis Energy shall have the opportunity to exchange their shares for Genesis Solar Corporation (GSC) shares at a later point of time, the Management Board has set out the terms and conditions of such exchange shall as follows:
- The condition precedent of the share exchange is that the shares of GSC have been listed on a US stock exchange.
- The date of the exchange will be determined later and shall be subsequent to a US stock exchange listing.
- The exchange of GEI shares for GSC shares takes place in the proportion of 1:1, independently from the share price of GEI or GSC at the time of exchange.
- Only those shareholders may participate in the exchange who have registered their shareholdings with GEI as at 7th of April 2010, the date of the ownership identification.
- The shareholders registration process will be carried out through the Central Clearing House and Depository (Budapest) Ltd. - KELER Zrt. The Management Board draw the kind attention of all shareholders, that only those shareholders will be qualified for the future share exchange option whose ownership together with the number of shares owned by them has been duly evidenced under their own names (not under the name of the depository bank) by the ownership identification of the Central Clearing House and Depository (Budapest) Ltd. - KELER Zrt. for that particular day (7th April 2010).
Therefore the shareholders wishing to be qualified for the future share exchange are kindly requested to inform their depository bank or broker company where the securities account is managed asking them to confirm to the KELER Zrt. their ownership status as Genesis Energy’s shareholder and the number of Genesis shares possessed by them as at 7th of April, 2010. Based on this ownership identification provided by KELER the person of and the number of the shares owned by the shareholders will be duly registered in the Registry Book of the Company. The registered shareholders will be entitled to exchange their GEI shares for GSC shares up to the number of shares held and registered in the Registry Book of the Company at 7th April 2010.
Budapest, 24 March, 2010
For further information please contact:
Jeno Kunovits
Deputy CEO
Genesis Energy Investment Plc.
Szent István krt. 18., Budapest
H-1137 Hungary
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=HU0000071865">http://www.irw-press.com/alert_subscription.php?lang=en&isin=HU0000071865</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.