GO plc - Increase in shareholding in Forthnet

On 29 December, Forthnet S.A. announced that its largest shareholder Forgendo Ltd (the joint venture company between GO and its majority shareholder Emirates International Telecommunications) increased its shareholding through an acquisition of a further 159,629 shares. Forgendo acquired 109,830 shares on 27 December for a total consideration of €62,449.34 equivalent to €0.569 per share and a further 49,799 shares on 28 December for a total consideration of €28,001.98 equivalent to €0.562 per share. Following this additional purchase of shares via the Athens Stock Exchange, Forgendo’s equity stake in Forthnet has increased from 40.85% to 40.95%.

So far during 2010 Forgendo acquired a total of 5,983,285 Forthnet shares for a total sum of €5,615,991 representing an average cost price of €0.939 per share. Forthnet’s closing price on the Athens Stock Exchange on 29 December was of €0.58.

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