EANS-News: Alapis Announces its Share Capital Increase to Raise c. EUR 451.1 million

Friday, September 18, 2009 General News
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Alapis S.A. ("Alapis" or "the Company") announces that, on 5 August,2009, the Company's Board of Directors approved a share capital increase byway of pre-emptive rights for existing shareholders that will increase theCompany's share capital by EUR 294,180,066.

The share capital increase will be effected through the issue of980,600,220 new ordinary shares of a nominal value EUR0.30 each, with paymentin cash.

Shareholders of Alapis will be entitled to one subscription right foreach existing share held. The exercise of one subscription right will entitlethe holder to subscribe for one new share at the proposed subscription priceof EUR 0.46 per new share. In addition, those who will exercise theirsubscription rights will be entitled to subscribe for a number of additionalnew shares at the subscription price (oversubscription rights). The totalgross proceeds will amount to approximately EUR 451.1 million.

The Company intends to use the net proceeds from the share capitalincrease to repay part of its existing short-term debt, finance expectedworking capital requirements and pursue targeted acquisitions of companiesand other assets, in order to further support its growth strategy in theGreek and South-Eastern European healthcare markets.

Alapis has been informed that Lamda Partners L.P., a private equity fund,has irrevocably undertaken to participate in the share capital increasethrough one or more of its wholly owned subsidiaries by investingapproximately EUR 90.2 million through the exercise of 196,120,044 rights,representing 20% of the new ordinary shares. Such rights will be acquiredfrom Dr. Lavrentis Lavrentiadis or in the open market. The Company was alsoinformed that Dr.Lavrentiadis is a director of the general partner of LamdaPartners L.P.

A syndicate of international firms composed of ABN AMRO, BofA MerrillLynch, BNP PARIBAS, Deutsche Bank AG London Branch and Jefferies has agreedto subscribe or procure subscribers for any new shares which may remainunsubscribed at the end of the subscription period, subject to customaryterms and conditions.

The Company's prospectus that will be prepared in relation to the sharecapital increase will be subject to approval by the Hellenic Capital MarketCommission.

The Company will endeavour to complete the capital increase by the end ofSeptember, subject to obtaining all regulatory and other approvals in aTimely manner.

The decision of the Board of Directors is pursuant to the authority givento it by the second repeat Extraordinary General Meeting of Alapis'shareholders held on 29 September 2008.ATHENS, Greece, August 6 /PRNewswire/ -- - Not for Release, Publication or Distribution Directly or Indirectly in or Into the United States, Canada, Australia, South Africa or Japan or any Other Jurisdiction in Which Such Publication or Distribution Would be Unlawful - This Announcement is not a Prospectus and is not an Offer to Sell or a Solicitation of any Offer to buy any Securities in the United States or in any Other Jurisdiction


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