Cytrustees: Investments as at 30.06.2014
14/7/2014 9:38
We attach the three-month report of the Company for the three months ended June 30, 2014.
It is noted that the three-month report is based on the following assumptions:
- The ordinary shares of Bank of Cyprus (before March 15, 2013) have been converted into new shares of Bank of Cyprus pursuant to the relevant decrees.
-A percentage of 47.5% of the deposits in Bank of Cyprus have been converted into new shares, pursuant to the relevant decrees.
- The new shares of Bank of Cyprus are assessed at the price of €0.25 based on the model proposed by the external auditors of the Company.
The aforementioned impairment will be revised in due time in the light of the upcoming developments.
It is noted that the three-month report is based on the following assumptions:
- The ordinary shares of Bank of Cyprus (before March 15, 2013) have been converted into new shares of Bank of Cyprus pursuant to the relevant decrees.
-A percentage of 47.5% of the deposits in Bank of Cyprus have been converted into new shares, pursuant to the relevant decrees.
- The new shares of Bank of Cyprus are assessed at the price of €0.25 based on the model proposed by the external auditors of the Company.
The aforementioned impairment will be revised in due time in the light of the upcoming developments.
