Telia: Interim Management Statement
16/11/2011 9:19
At the meeting held on November 15, 2011, the Board of Directors of Telia Aqua Marine Public Ltd examined and approved the Interim Management Statement, pursuant to the provisions of the Transparency Requirements Law 2007.
Main activities
The main activities of our fish culture units in Liopetri and Vassiliko include the hatching of bass fish and Dorado and their breeding and sale in the Cypriot and other foreign markets.
Turnover
The accumulated sales during the period 1/1/2011 – 31/10/2011 stand at €7,074,055 compared to €4,545,508 in the corresponding period of 2010 due to the increase in exports and the sale prices. The sales for the year are expected to increase by 45-50%.
Profitability
Due to the increased exports, which will continue, the results for 2011 will be profitable.
During the period covered by the Interim Management Statement, there were no profits or losses from non-recurrent activities that do not fall under the Companies’ activities.
Finally, it is noted that the main risks and uncertainties that the companies are exposed to, are those described in the audited financial statements for 2010.
Public Offer to all shareholders of Telia Aqua Marine Public Ltd
On August 25, 2011, Mr. Frixos Koulermos submitted a Public Offer to all shareholders for the acquisition of up to 100% of the issued share capital of the Company. For every share of nominal value €0.34, €0.40 is offered. Until 27/10/2011, Mr. Koulermos acquired 96.38% or 21,905,341 shares of the issued share capital of TLA.
The Cyprus Securities and Exchange Commission approved Mr. Koulermos’ request for the exercise of a squeeze out for the remaining 821,659 shares, that is, 3.62% of the issued share capital of TLA with the offered consideration of the Public Offer, that is, €0.40 per TLA share.
Finally, it is noted that the main financial risks and uncertainties that the Companies may be exposed to are those described in the financial statements of the Group for 2010.
Main activities
The main activities of our fish culture units in Liopetri and Vassiliko include the hatching of bass fish and Dorado and their breeding and sale in the Cypriot and other foreign markets.
Turnover
The accumulated sales during the period 1/1/2011 – 31/10/2011 stand at €7,074,055 compared to €4,545,508 in the corresponding period of 2010 due to the increase in exports and the sale prices. The sales for the year are expected to increase by 45-50%.
Profitability
Due to the increased exports, which will continue, the results for 2011 will be profitable.
During the period covered by the Interim Management Statement, there were no profits or losses from non-recurrent activities that do not fall under the Companies’ activities.
Finally, it is noted that the main risks and uncertainties that the companies are exposed to, are those described in the audited financial statements for 2010.
Public Offer to all shareholders of Telia Aqua Marine Public Ltd
On August 25, 2011, Mr. Frixos Koulermos submitted a Public Offer to all shareholders for the acquisition of up to 100% of the issued share capital of the Company. For every share of nominal value €0.34, €0.40 is offered. Until 27/10/2011, Mr. Koulermos acquired 96.38% or 21,905,341 shares of the issued share capital of TLA.
The Cyprus Securities and Exchange Commission approved Mr. Koulermos’ request for the exercise of a squeeze out for the remaining 821,659 shares, that is, 3.62% of the issued share capital of TLA with the offered consideration of the Public Offer, that is, €0.40 per TLA share.
Finally, it is noted that the main financial risks and uncertainties that the Companies may be exposed to are those described in the financial statements of the Group for 2010.
