At the extra-ordinary general meeting on December 19 the following resolutions were passed:
1. An increase in the authorized share capital of the company from $22.9 million (divided into 50,000 5% cumulative preference shares of $2 each and 45.6 ordinary shares of $0,50 each) by $15.9 million to $38.9 million by the creation of an additional 31.9 million ordinary shares of fifty cents each
2.The capitalization of $15.9 million into seven for ten bonus issue to shareholders registered on December 31, 1996.
