Orphanides: Information on press reports
14/12/2012 9:28
Further to the reports in the electronic and printed press, Orphanides Public Company Ltd would like to inform the investing public that:
1. At a meeting held yesterday at the Hilton Hotel with a large number of suppliers/collaborators, the Management informed the attendants that it has requested by the banks the appointment of a Manager/Receiver, who will secure that the Company will continue its activities and will protect its employees, suppliers, banks and shareholders.
2. A plan has been sent to all banks on Wednesday, December 12, 2012 from the Company’s Corporate Advisor, Andrew Andronikou of UHU Hacker Young LLP based in London and specialized in reorganization and recovery issues.
3. Since the decision for the appointment of the Manager/Receiver lies to the banks, the Company expects their decisions, which will be taken in the next few days and for which the Company will inform the investing public.
We want to emphasize that all actions are in good faith, in order to protect the interests of all parties involved.
1. At a meeting held yesterday at the Hilton Hotel with a large number of suppliers/collaborators, the Management informed the attendants that it has requested by the banks the appointment of a Manager/Receiver, who will secure that the Company will continue its activities and will protect its employees, suppliers, banks and shareholders.
2. A plan has been sent to all banks on Wednesday, December 12, 2012 from the Company’s Corporate Advisor, Andrew Andronikou of UHU Hacker Young LLP based in London and specialized in reorganization and recovery issues.
3. Since the decision for the appointment of the Manager/Receiver lies to the banks, the Company expects their decisions, which will be taken in the next few days and for which the Company will inform the investing public.
We want to emphasize that all actions are in good faith, in order to protect the interests of all parties involved.
