SFS to “Squeeze Out” White Knight minority

SFS Group Plc (SFS.CY) announced that following the acquisition of 90.07% of White Knight Holdings Public Company Ltd (WKH.CY) share capital, the Company has decided to proceed with a squeeze out (within 3 months) so as to acquire 100% of WKH’s share capital.
SFS also announced that the Chairman and CEO of SFS Christodoulos Ellinas, the CFO of SFS, Antonis Mytilinaios and other related parties have purchased at an arm’s length transaction, 6 residence units in Larnaka Bay Resort, for a total amount of EUR3,434,000. The above transaction will contribute EUR1,307,000 to WKH’s profitability given that the properties have been delivered.