Orphanides: Acquisition of two companies - Construction of new warehouses
31/12/2008 9:38
Subject: Acquisition of Araltica Developments Limited and A.I.B Diakinisis Ltd / Construction of new Central warehouses
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 within the frames of its three-year developing plan, signed an agreement on December 23, 2008 regarding the acquisition of the share capital of the companies Araltica Developments Limited and A.I.B Diakinis Limited. The two companies have a right of exploitation for two real estates that are located at Aradippou Industrial Area in Larnaca, for 33 years and with a right of renewal for another 66 years.
The main business purpose for this acquisition is the construction of new larger central warehouses.
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 within the frames of its three-year developing plan, signed an agreement on December 23, 2008 regarding the acquisition of the share capital of the companies Araltica Developments Limited and A.I.B Diakinis Limited. The two companies have a right of exploitation for two real estates that are located at Aradippou Industrial Area in Larnaca, for 33 years and with a right of renewal for another 66 years.
The main business purpose for this acquisition is the construction of new larger central warehouses.