Telecel announces that on 19 November 1999, it will conclude the previously announced renominalization process of its share capital through the alteration of the nominal value of its shares from EUR 5 to EUR 0.50. As a result, each shareholder will own 10 shares for every one share currently held, and Telecel’s share capital will comprise 215,000,000 shares with a unitary nominal value of EUR 0.50.
With effect from 16 November 1999, both the negotiation and quote of Telecel’s shares on the Stock Exchange will be based upon the new reference price, the new nominal value of each share of EUR 0.50 and the increased number of shares in issue. Telecel shareholders should account for the new share price and the increased number of shares in their portfolio with effect from 16 November 1999.
After the close of business on the 15 November 1999, all offers registered in the Stock Exchange negotiation system that relate to Telecel will be cancelled. Therefore, new purchase or sell orders would have to be placed from 16 November 1999, using the new reference prices and the increased number of shares in issue.