Hadjiioannou Farm: Final results 2012 – Board meeting on 30/8 for six-month results 2013 – AGM on 11/12

At the meeting held today, the Board of Directors of Renos Hadjiioannou Farm Public Company Ltd approved the audited financial statements for the year ended 31/12/2012. The results are attached. The audited results show divergence from the preliminary results due to an interest offset. Specifically, the loss stands at €1.182.535 against €1.462.964 that it was announced. The value of buildings has been impaired by €2.000.000 so as to be more conservative given the situation and the new data in the property market. The Company is in negotiations with banks for the return of overcharges (while it expects the implementation of an agreement with another bank). The Board of Directors decided to transfer the approval of the six-month results on 30/8/2013 so as to have better indications if an agreement with the banks is reached.

The Annual General Meeting will take place on Wednesday, 11/12/2013 and the Board does not propose the payment of a dividend. The notification will be posted in November. Copies of the financial statements that are available at Company’s website, www.frh.com.cy, are also available at the Company’s office free of charge.