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D.H Cyprotels: Audited results - AGM on 10/6

Please be advised that the board of directors of D.H. Cyprotels Ltd (the ‘Company’) met on 17-02-2004, at 11:00hrs, and approved the annual audited consolidated accounts of the Company for the year ended 31-10-2003. The results with the related notes thereto are attached.

The annual audited accounts show a loss of CYP1,973,583 instead of a loss of CYP1,623,582 which was originally announced in the preliminary annual unaudited accounts, because of the increase in the provision of rents payable for leased land. The additional provision was considered necessary in order for the total cost of the lease to be written off over the period of the lease under the straight line method.

Further, the board of directors set the 10th June 2004 as the date for its Annual General Meeting, at Poseidonia hotel in Lemesos, at 17:00hrs.

Please be informed that, in accordance with the Regulations of the Cyprus Stock Exchange, the results will be sent to the shareholders latest 27-02-2004. The accounts will also be available at the company’s office in Lemesos, Ant.Loukaides & Gladstonos, Oasis Complex Centre, Block E, 4th floor, appt D2, tel 25-884000.
Wednesday, 18 February, 2004 - 10:04