Further to our announcement dated February 28, 2003 with regard to the aforementioned issue, we wish to inform you that our wholly subsidiary Severis & Athienitis Securities Ltd (“SAS”) has signed an agreement with CLR Stockbrokers Limited (“CLR”), which is wholly subsidiary of CLR Financial Services Limited for cooperation in the financial sector. The agreement provides that SAS’s stockbrokers and associated network will proceed to transactions via CLR.
Making use of the cooperation that will derive from this agreement, SAFS Group will reduce operating costs, improving in this way its profitability.
It is clarified that this agreement concerns the operating structure of the two companies and does not provide for any money or share return.
The agreement has been approved by the Boards of Directors of Severis & Athienitis Financial Services Limited and Severis & Athienitis Securities Limited.
Making use of the cooperation that will derive from this agreement, SAFS Group will reduce operating costs, improving in this way its profitability.
It is clarified that this agreement concerns the operating structure of the two companies and does not provide for any money or share return.
The agreement has been approved by the Boards of Directors of Severis & Athienitis Financial Services Limited and Severis & Athienitis Securities Limited.
Tuesday, 8 April, 2003 - 10:10