Clarifications on Telia Aqua’s acquisition of Gorgona
12/2/2002 11:22
During the board meeting of Telia Aqua Marine Ltd. of the 1 February 2002, in accordance with CSE regulation 81, (1), Section VI, part I, paragraph 3, it was decided to proceed with acquisition of 100% of the share capital of Psaragora “Gorgona” Ltd., a retail and wholesale fish and seafood company. The acquisition price is CYP 30.000 and goodwill resulting is CYP 26.543 which will be written off equally over a period of 20 years. The net value of assets acquired equals CYP 3.457.
As at 1 February 2002, Mr. Costas Charalambous (Managing Director of Telia), Mr. Yiangos Kourtellas, Mr. Christophoros Christophorou and Mr. Georgios Andreou were appointed to the board of Psaragora “Gorgona”. There are no agreements between directors of the holding and subsidiary companies.
There will be no changes to the board of the holding company, the board of which anticipates that profits of the group by the acquisition will be positively effected.
As at 31 December 2001, sales of Psaragora “Gorgona” Ltd. were CYP 36.330 with gross profits of CYP 11.264. Pre-tax profits were CYP 2.048 and after-tax profits CYP 1.686.
As at 1 February 2002, Mr. Costas Charalambous (Managing Director of Telia), Mr. Yiangos Kourtellas, Mr. Christophoros Christophorou and Mr. Georgios Andreou were appointed to the board of Psaragora “Gorgona”. There are no agreements between directors of the holding and subsidiary companies.
There will be no changes to the board of the holding company, the board of which anticipates that profits of the group by the acquisition will be positively effected.
As at 31 December 2001, sales of Psaragora “Gorgona” Ltd. were CYP 36.330 with gross profits of CYP 11.264. Pre-tax profits were CYP 2.048 and after-tax profits CYP 1.686.
