LK Globalsoft.com Acquires AT Multitech
15/1/2001 0:00
The company LK Globalsoft.com Ltd. announced that it has reached a preliminary agreement for acquisition of majority shareholding in the public company AT Multitech Corporation Ltd., from Mr. Aristos Tapakis and Ms Elena Constantinou. LK Globalsoft.com will acquire 67% of the existing share capital of the company against the sum of CYP 4 million in cash. Following issuance of new shares for listing of AT Multitech Corporation Ltd.’s titles on the CSE, LK Globalsoft.com’s percentage will reach 50%+
AT Multitech Corporation Ltd. holds a notable position in the retail of information products and computer assembly in Cyprus. This year’s net profits are anticipated to reach CYP 459.000 from sales of CYP 5.6 million, whilst for the current year it is expected that due to the synergies derived with Globalsoft as well as the expansion of activities of the company abroad, net profits are expected to exceed CYP 900.000 with sales around CYP 10 million.
Chairman of LK Globalsoft.com Mr. Lykourgos Kyprianou and Executive Director of AT Muiltitech Mr. Aristos Tapakis stated that the agreement reached will greatly benefit the advancement of both companies both in Cyprus and abroad.
AT Multitech Corporation Ltd. holds a notable position in the retail of information products and computer assembly in Cyprus. This year’s net profits are anticipated to reach CYP 459.000 from sales of CYP 5.6 million, whilst for the current year it is expected that due to the synergies derived with Globalsoft as well as the expansion of activities of the company abroad, net profits are expected to exceed CYP 900.000 with sales around CYP 10 million.
Chairman of LK Globalsoft.com Mr. Lykourgos Kyprianou and Executive Director of AT Muiltitech Mr. Aristos Tapakis stated that the agreement reached will greatly benefit the advancement of both companies both in Cyprus and abroad.
