Toxotis: Interim Management Statement
19/5/2008 9:02
At the meeting held on May 16, 2008, the Board of Directors of Toxotis Investments Public Limited approved the Interim Management Statement of the Company and its subsidiaries for the period from January 1, 2008 to May 15, 2008, pursuant to article 11 of Law 190(1) of 2007. The Statement has not been audited by the external auditors of the Company and refers to its performance and most significant facts during the period.
Nature of activities
The main activities of the Group have not changed and focus on the investments in CSE-listed titles and private companies.
Financial condition and facts
On May 8, 2008, CLR Investment Fund Public Ltd acquired an additional number of shares in Toxotis, increasing its stake to 57.79%. This acquisition turned Toxotis into subsidiary of CLR Investment Fund.
The Group’s financial assets assessed in fair value show losses compared to the corresponding period of 2007 due to the drop in the CSE share prices (31% until May 15, 2008).
The drop in the CSE share prices, where the Company has invested large part of its capital, is expected to affect negatively the six-month results for 2008.
It is noted that any reversal in the course of the CSE indices and the share prices in the CSE is expected to affect positively the Group’s results. The Group will release an analytical report together with the six-month results 2008.
Nature of activities
The main activities of the Group have not changed and focus on the investments in CSE-listed titles and private companies.
Financial condition and facts
On May 8, 2008, CLR Investment Fund Public Ltd acquired an additional number of shares in Toxotis, increasing its stake to 57.79%. This acquisition turned Toxotis into subsidiary of CLR Investment Fund.
The Group’s financial assets assessed in fair value show losses compared to the corresponding period of 2007 due to the drop in the CSE share prices (31% until May 15, 2008).
The drop in the CSE share prices, where the Company has invested large part of its capital, is expected to affect negatively the six-month results for 2008.
It is noted that any reversal in the course of the CSE indices and the share prices in the CSE is expected to affect positively the Group’s results. The Group will release an analytical report together with the six-month results 2008.
