22nd Aug 2025 14:13
DCI Advisors Ltd
("DCI") or the ("Company")
Update on the final cash payment to be received from Mr Aristodemou
22nd August 2025
Further to the announcement that was released by the Company on 21st February 2025, the Directors of the Company announce that the final cash payment of €6,150,000 that is part of the transaction to sell its interests in Aristo Developers to Mr Aristodemou was not paid on 21st August as tax clearance in Cyprus for the sale transaction have not yet been received. As a result, the Company has delayed the transfer of its remaining 908 ordinary shares in DCI Holdings Two Limited ("DCI H2"), which owns Aristo Developers, to Mr Aristodemou. This represents a holding of 10.68% of the ordinary shares. It is anticipated that the clearances will be obtained within the next few months so that this transaction can then be completed. Sean Hurst and Nicholas Paris who are both Directors of DCI resigned from the Board of Directors of DCI H2 on 21st August as previously agreed.
Further announcements will be made in due course once the necessary tax clearance is received, and the transaction can be concluded.
Enquiries
DCI Advisors Ltd Nicolai Huls / Nick Paris, Managing Directors |
+44 (0) 7738 470550 |
Cavendish Capital Markets Limited (Nominated Adviser & Broker) Jonny Franklin-Adams / Edward Whiley (Corporate Finance) Pauline Tribe (Sales) |
+44 (0) 20 7220 0500 |
FIM Capital Limited (Administrator) Lesley Lennon / Nick Oxley (Corporate Governance) |
[email protected] / [email protected]
|
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