Orphanides: Acquisition of Goglio Investments
21/9/2007 9:50
Within the framework of its strategic plan and in order to fully inform the shareholders and the investing public in general, the Company announces that on September 14, 2007 it signed an agreement for the acquisition of the activities and assets of Goglio Investments Limited, which runs a super market in Palaiometoho, Nicosia. The fair value of the assets will be determined within 30 days from the delivery of the company. The company will be delivered on October 1, 2007.
The Company also signed an agreement with Messrs. Andreas Savvas and Charalambos Kkafas for the acquisition of plots of 6,127 square meters, which host the supermarket premises.
With the signing of the aforementioned agreement, Orphanides Public Company Limited expands its activities in the district of Nicosia in Palaiometoho – Kokkinotrimithia. The Group will strengthen its presence in the district, having as a main aim:
1. The enforcement of the strategic plan for the opening of smaller supermarkets.
2. The increase in its turnover.
3. The increase in its profitability.
The acquisition was evaluated by the Board of Directors of Orphanides Public Company Limited headed by its Executive Chairman, Christos Orphanides.
The Company also signed an agreement with Messrs. Andreas Savvas and Charalambos Kkafas for the acquisition of plots of 6,127 square meters, which host the supermarket premises.
With the signing of the aforementioned agreement, Orphanides Public Company Limited expands its activities in the district of Nicosia in Palaiometoho – Kokkinotrimithia. The Group will strengthen its presence in the district, having as a main aim:
1. The enforcement of the strategic plan for the opening of smaller supermarkets.
2. The increase in its turnover.
3. The increase in its profitability.
The acquisition was evaluated by the Board of Directors of Orphanides Public Company Limited headed by its Executive Chairman, Christos Orphanides.
