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FANCO S.A.
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Announcement Regarding Bond Conversion to Shares and the Share Capital Increase
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January 31, 2006 The Board of Directors of FANCO S.A. announces that during its session on 01.30.2006 approved the Company's share capital increase, due to the conversion of Bonds to common registered shares of the Company.
Specifically, NAOUSSA SPINNING MILLS S.A. holder of 10 blocks of the 1st series of non-listed convertible bond each containing 109,900 convertible, non-listed bond notes, sent the Company a letter of intent for the conversion of these bonds to shares, according to the terms of the A' Convertible bond loan series set at 12.28.2005, amounting to 329,700.00 Euro, issued within the framework of the 21,000,000.00 Euro convertible Bond Loan, according to the resolutions of the Company's Shareholders' Extraordinary General Meeting on 04.20.2005.
According to the terms of the above mentioned bond loan, each (1) bond of 0.30 Euro is converted to one (1) share and therefore through the above conversion one million ninety nine thousand (1,099,000) new shares of the same class with the existing ones will be issued, of nominal value thirty cents (Euro 0.30) each, and hence the Company's share capital will increase by three hundred twenty nine thousand seven hundred (329,700.00) Euro.
Further announcements will be published following the completion of the formal procedures.
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For further information, please contact: Mr. Athanassios Margellos, Head of Investor Relations (Τel: +30 210-5708164),(E-mail: investors@klonatex.com), Mr. Ioannis Kalogeras, Communications & Public Relations Director (Tel. +30 210-5708030), (E-mail: press@klonatex.com) or with the Company at tel.: +30 210-5708000, Fax: +30 210-5708200. Website:www.fanco.gr or Mr. Nicolas Bornozis, President at Capital Link Inc. in New York at (212)661-7566. This and additional information can also be accessed on Capital Link's website.
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