Empire Capital taken over by @lakati Cyprus property project owners

Optagius Ltd, Stario Portfolio Investments Public Co Ltd, Yiannos Cassoulides, Alexis Charalambides and Michael Ioannou (Offeror) announced that on May 20, 2009, they jointly proceeded with the purchase of 3,121,437 shares of Empire Capital Investments Public Ltd, which corresponds to 52.32% of its issued share capital. The transaction was made at the price of EUR0.62 per share.
Specifically, Optagius Ltd acquired 28.46%, Stario Portfolio Investments Public Co Ltd acquired 4.98%, Alexis Charalambides acquired 8.09%, Yiannos Cassoulides acquired 8.09% and Michael Ioannou acquired 2.70%. Formerly, no shares were held by the Offerors.
As a result and based on article 13 of the Law, the Offerors announced the submission of a Public Offer for the acquisition of up to 100% of the issued share capital of the Company at the price of EUR0.62 per share cash.
The issued share capital of EMP stands at EUR2,565,595 divided into 5,966,500 shares of nominal value EUR0.43 each.
Marfin CLR (Financial Services Ltd) acts as consultant within the framework of the Public Offer. Also, Marfin CLR (Financial Services) Ltd acts as Underwriter within the framework of KDP 96/2008 of the CSE.
The Offeror’s intention is to expand the Company’s activities and to release it from the investment restrictions so as to become actively involved in the sector of properties via the acquisition of Gamatex Holdings Ltd.
Gamatex Holdings Ltd is the owner of a big plot in Lakatamia. The shareholders of Gamatex Holdings Ltd are Optagius Ltd and Yiannos Cassoulides, Alexis Charalambides and Michael Ioannou.
The Offeror has proceeded with all necessary arrangements with USB Bank Plc, which will certify that the Company has all necessary means for the payment of the proposed consideration.