Leda takeover successful

Leda Investment (LEDA) announced that the public offer submitted by the Greek national K. Velanis to acquire a minimum 50% plus one share of the Company’s issued share capital at a cash consideration of 7.5 cent per share was successful as 59.9 % of the Company’s shareholders accepted the Public Offer.

K. Velanis will accept the offer on a pro- rata basis, so as to acquire 2,759,717 shares from a total 3,306,259 shares offered for a deal value of CYP 207.000 or EUR 360.000.

Leda Investment reported a net profit of CYP 52.000 for 2005, and based on its CSE price of around 7 cent per share, it has a total market cap of CYP 386.000 and a book value of 7.37 cent per share.