Karyes Investment Public Company LTD

Share Issue/Capital Change • Aug 17, 2018

KARYES INVESTMENT LTD

THE ISSUANCE, PUBLICATION OR CIRCULATION, IN ANY JURISDICTION WHERE SUCH ACT WOULD INFRINGE THE RELEVANT LAWS, WHETHER DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IS PROHIBITED

17 August 2018

ANNOUNCEMENT

COMPLETION OF THE EXERCISE OF PREEMPTION RIGHTS AND RESULTS OF COVERAGE OF THE PREEMPTION RIGHTS BY THEIR HOLDERS DURING THE EXERCISE PERIOD

In order to better inform shareholders and investors in general, the public listed company Karyes Investment Public Company Limited ("the Company") announces that the Period of Exercise of the Preemption Rights according to the relevant procedure and the Company's Prospectus dated 11 May 2018 ("the Prospectus") ended on 2 August 2018.

According to the final results, 1,438,788 Preemption Rights were exercised by their holders who have subscribed for 14,387,880 New Shares of a nominal value of €0.25 each, representing a coverage ratio of 72%. The total funds raised by the Company are estimated at approximately €3.5 million.

According to the Prospectus, the Company may, at its discretion, within five (5) working days from the Last Date of Exercise of the Preemption Rights, dispose New Shares arising from the non-exercised Preemption Rights at the price of €0.25 per New Share.

The relevant letters for the granting of the New Shares which have arisen in the framework of the said exercise ("the New Shares") will be sent to the shareholders on 17 August 2018.

The date of listing and commencement of trading of the New Shares on the Cyprus Stock Exchange ("CSE") will be announced in due time once all relevant CSE approvals have been obtained.

For more information, shareholders may contact:

• The offices of the Underwriter Responsible for the Drawing Up of the Prospectus, 50 Arch. Makarios C' Ave., Alpha Block, 1st floor, 1065 Nicosia, or
• The offices of the Company's Investment Manager, 7Q Financial Services Ltd, Kennedy Business Center, 12-14 Kennedy Ave., Office 402, 1087 Nicosia.