Following a letter of the company of the 9 July 2001, Renos Hadjioannou Farms Ltd. requested the listing of,
a) 495,000 shares issued in exchange for acquisition of fixed assets of the company Depalko Ltd., owner of the poultry farm of Christakis Panayiotou of Deneia and Eleftherios Ioannou of Limassol.
b) 305,000 shares issued in exchange for acquisition of fixed assets of Savvas Petrides, Petrides Poultry Ltd., as well as the rights for the sale and rearing of free-range chickens under the name Petrides.
Titles were delivered to beneficiaries by hand on the 18 June 2001, following a decision of the Board of the 15 June 2001 as previously announced and by authorisation of the AGM of the company through a special resolution of the 6 November 2000 which was also previously publicised.
Issued share capital of the company, after the issuance of the 800.000 shares will reach 60.071.684 shares.
The company further clarified that for acquisition of the fixed assets of Depalko, owners of the poultry farms of Christakis Panayiotou of Deneia and Eleftherios Ioannou of Limassol, there will no goodwill paid for acquisition of the fixed assets, the net value of assets acquired will be CYP 748.000 and that there will be no changes to the Board of Renos Hadjioannou Farms Ltd. as a result.
For acquisition of fixed assets of Savvas Petrides, Petrides Poultry Farm Ltd., as well as the rights for the sale and rearing of free-range chickens under the name Petrides, goodwill payable for acquisition of the fixed assets is CYP 77.255, the net value of assets will be CYP 144.745. Goodwill derived will be written off over a period of 20 years commencing from 2001. No Board changes will result from the acquisitions.
Profits of the group through the above acquisitions will be increased by around CYP 200.000 for the period of the year 2001.
a) 495,000 shares issued in exchange for acquisition of fixed assets of the company Depalko Ltd., owner of the poultry farm of Christakis Panayiotou of Deneia and Eleftherios Ioannou of Limassol.
b) 305,000 shares issued in exchange for acquisition of fixed assets of Savvas Petrides, Petrides Poultry Ltd., as well as the rights for the sale and rearing of free-range chickens under the name Petrides.
Titles were delivered to beneficiaries by hand on the 18 June 2001, following a decision of the Board of the 15 June 2001 as previously announced and by authorisation of the AGM of the company through a special resolution of the 6 November 2000 which was also previously publicised.
Issued share capital of the company, after the issuance of the 800.000 shares will reach 60.071.684 shares.
The company further clarified that for acquisition of the fixed assets of Depalko, owners of the poultry farms of Christakis Panayiotou of Deneia and Eleftherios Ioannou of Limassol, there will no goodwill paid for acquisition of the fixed assets, the net value of assets acquired will be CYP 748.000 and that there will be no changes to the Board of Renos Hadjioannou Farms Ltd. as a result.
For acquisition of fixed assets of Savvas Petrides, Petrides Poultry Farm Ltd., as well as the rights for the sale and rearing of free-range chickens under the name Petrides, goodwill payable for acquisition of the fixed assets is CYP 77.255, the net value of assets will be CYP 144.745. Goodwill derived will be written off over a period of 20 years commencing from 2001. No Board changes will result from the acquisitions.
Profits of the group through the above acquisitions will be increased by around CYP 200.000 for the period of the year 2001.
Wednesday, 11 July, 2001 - 10:05