Elma – Marfin agreement for settlement of dispute
In order to inform its shareholders and the investing public in general, Elma Holdings Public Company Ltd announces that it has reached an agreement with Marfin Popular Bank Public Co Ltd, which provides for the settlement of their dispute.
According to the agreement, all legal actions by both sides will be withdrawn and the two parties will cooperate closely. Specifically, the agreement sets the requirements for the prospect of the Bank’s participation (up to 10%) in the share capital of the Company and the provision of Investment Services by the Bank, in accordance with the Company’s needs.
The agreement will not burden the Company’s accounts. On the contrary, this cooperation is expected to contribute to the Company’s progress and economic strengthening.
According to the agreement, all legal actions by both sides will be withdrawn and the two parties will cooperate closely. Specifically, the agreement sets the requirements for the prospect of the Bank’s participation (up to 10%) in the share capital of the Company and the provision of Investment Services by the Bank, in accordance with the Company’s needs.
The agreement will not burden the Company’s accounts. On the contrary, this cooperation is expected to contribute to the Company’s progress and economic strengthening.
