28/01/2010 12:42
Lemeco Silvex Trading Ltd, subsidiary of C.T.O proceeded with the sale of a plot in Limassol Industrial Area together with the plant situated in it, according to an announcement released today.
The property was bought by AGROFARM LIMITED and GDL Trading Ltd against the sum of €2,750,000, €100,000 of which have already been paid cash and the remaining sum will be paid off with the transfer of the property in cash. From this sale, a pre-tax profit of €1,166,374 has resulted. This profit will be used for future investments and other corporate and trade actions. The transaction was at arm’s length.
The Ministry of Commerce, Industry and Tourism approved the application for the sale of the plot via a letter sent on January 26, 2010 and the main business reason for this sale is its contribution to the Company’s profitability.
The property was bought by AGROFARM LIMITED and GDL Trading Ltd against the sum of €2,750,000, €100,000 of which have already been paid cash and the remaining sum will be paid off with the transfer of the property in cash. From this sale, a pre-tax profit of €1,166,374 has resulted. This profit will be used for future investments and other corporate and trade actions. The transaction was at arm’s length.
The Ministry of Commerce, Industry and Tourism approved the application for the sale of the plot via a letter sent on January 26, 2010 and the main business reason for this sale is its contribution to the Company’s profitability.
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