Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, Efremico Holdings Public Ltd announces that the results for 2011 will be lower than those of 2010, when they had showed profits.
This is attributable to the revaluation of investment property of Knossos Investment Public Ltd, which is associated company of Efremico Holdings Public Ltd. The revaluation of investment property was recognized in the financial statements for 2010, based on an evaluation carried out by professional independent valuators.
The revaluation created surplus in the subsidiary of €1,000,000, which created profit for 2010. During 2011, no need to revaluate the investment property emerged.
This is attributable to the revaluation of investment property of Knossos Investment Public Ltd, which is associated company of Efremico Holdings Public Ltd. The revaluation of investment property was recognized in the financial statements for 2010, based on an evaluation carried out by professional independent valuators.
The revaluation created surplus in the subsidiary of €1,000,000, which created profit for 2010. During 2011, no need to revaluate the investment property emerged.
Thursday, 5 January, 2012 - 11:06