Schoeller-Path: Preliminary agreement for acquisition of majority stake in Universal Bank
Schoeller Holdings Limited and Path Holdings Ltd announce that they have reached a preliminary agreement for the acquisition of the majority stake in the share capital of Universal Bank Public Ltd. The agreement is subject to certain conditions, such as the satisfactory outcome of the due diligence and the approval of the Central Bank of Cyprus. It is noted that the acquisition price has not been decided yet, since it depends on the outcome of the due diligence.
It is clarified that at the current stage no decision has been taken, pursuant to Regulation 9(1)of the CSE Regulations 1997 (Public Offer for Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE). If the decision is taken, we will proceed to further announcements and we will prepare a public offer, according to the Regulations above.
This announcement is in line with Regulation 9(2) of the Regulations above.
It is clarified that at the current stage no decision has been taken, pursuant to Regulation 9(1)of the CSE Regulations 1997 (Public Offer for Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE). If the decision is taken, we will proceed to further announcements and we will prepare a public offer, according to the Regulations above.
This announcement is in line with Regulation 9(2) of the Regulations above.
