The Extraordinary General Meeting (EGM) of the shareholders of Bank of Cyprus held on 23 June 2009 in Nicosia approved the amendment of the terms of the Share Options Plan for the employees that were approved at the AGM on 14 May 2008.

The EGM was attended by 1.375 shareholders, either in person or by proxy, who represented 136.306.698 shares, that is 23.23% of the total share capital.

According to the amendment, the price of the options is adjusted from EUR 9.41 to EUR 5.50. A total of 15 mln shares are available to Management and staff under the scheme, which has a maturity until 2012.

Financial Mirror, June 23, 2009