Orphanides: Final results 2008 – AGM on 25/6 – Acquisition of Promptland Ltd
29/4/2009 10:03
Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, the Board of Directors of Orphanides Public Company Limited announces that:
At the meeting held on Tuesday, April 28, 2009 at the Company’s Head Office, the Board of Directors decided the following:
1. Final results 2008
The Board of Directors examined and approved the final results for the year ended December 31, 2008. The net profit stands at €501,011. In order to fully inform the investing public, the results are attached. Copies will be available free of charge at the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca.
2. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 25, 2009 at 16.30 at Orphanides Mall in Nicosia.
3. Strategic Plan
Within the framework of the Company’s strategic plan and its activities and its activities, the Company announces that it has proceeded with the finalization of the agreement for the acquisition of the share capital of Promptland Properties Ltd, which via its subsidiaries holds properties in Limassol. The cost of acquisition is calculated at €8.5 million. The main business reasons for the acquisition are the completion and adoption of the Group’s strategic plan for the opening of new supermarkets in order to increase its turnover, its profitability and its purchasing power.
At the meeting held on Tuesday, April 28, 2009 at the Company’s Head Office, the Board of Directors decided the following:
1. Final results 2008
The Board of Directors examined and approved the final results for the year ended December 31, 2008. The net profit stands at €501,011. In order to fully inform the investing public, the results are attached. Copies will be available free of charge at the Company’s Head Office, 20-22 Yiannou Kranidioti, Larnaca.
2. Annual General Meeting
The Annual General Meeting will take place on Thursday, June 25, 2009 at 16.30 at Orphanides Mall in Nicosia.
3. Strategic Plan
Within the framework of the Company’s strategic plan and its activities and its activities, the Company announces that it has proceeded with the finalization of the agreement for the acquisition of the share capital of Promptland Properties Ltd, which via its subsidiaries holds properties in Limassol. The cost of acquisition is calculated at €8.5 million. The main business reasons for the acquisition are the completion and adoption of the Group’s strategic plan for the opening of new supermarkets in order to increase its turnover, its profitability and its purchasing power.
