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QUEENCO LEISURE INTERNATIONAL LTD - Results of Extraordinary General Meeting of Shareholders

June 23, 2014



23 June 2014Queenco Leisure International Ltd ("QLI" or the "Company") Results of Extraordinary General Meeting of Shareholders Queenco Leisure International Ltd. (the "Company"), the emerging markets developer and operator of casinos and entertainment centers, is pleased to announce that it held earlier today an extraordinary general meeting of shareholders, and that the resolutions put to shareholders at the meeting were duly passed, as follows: 1. To effect the following capital reorganization in order to reduce the par value per share of the Company's registered and issued share capital: a) each ordinary share of the Company of par value NIS 1 shall be divided into 100 ordinary shares of the Company of NIS 0.01 par value each; b) out of each 100 ordinary shares of the Company of NIS 0.01 par value each existing after such subdivision in the issued and outstanding share capital of the Company, 99 ordinary shares of the Company of NIS 0.01 par value each shall be cancelled; c) the consideration paid for the par value of these cancelled shares shall be recorded in the Company's books as a capital reserve to be deemed for all intents and purposes as a premium paid for the shares remaining in the issued share capital of the Company (the "Special Capital Reserve"); and the Company shall be prohibited from distributing the Special Capital Reserve to its shareholders without it being approved as a "distribution" (as defined in the Israeli Companies Law, 1999) to be subject to the receipt of all the approvals then required for it under law. Prior to this resolution, the authorized share capital of the Company was NIS 1,200,000,000, composed of 1,200,000,000 ordinary shares of NIS 1 par value per share; and the issued and outstanding share capital of the Company was 1,098,919,854 ordinary shares, par value NIS 1 per share, of which 264,063,863 shares are represented by Global Depository Receipts ("GDRs"). Each of the originally listed GDRs represented 10 ordinary shares of the Company, par value NIS 1 per share. Following this resolution, the authorized share capital of the Company is NIS 1,200,000,000 composed of 120,000,000,000 ordinary shares of NIS 0.01 par value each, and Section 4 of the Company's articles of association has been amended accordingly; and the issued and outstanding share capital of the Company is 1,098,919,854 ordinary shares of NIS 0.01par value each. Consequently, each GDR now represents 10 ordinary shares of NIS 0.01 per value each. 2. To approve certain additional amendments to the Company's articles of association. For further information about the Company please visit www.queenco.comor contact: Queenco Leisure International Ltd.



Yariv Lerner, Chief Executive Officer T: +972 3 7566 555


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Source: PR Newswire (UK Disclosure)


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