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Elma reduces its stake in Stario to 0.3%

16/03/2009 13:09
Elma Holdings proceeded with a significant drop in its shareholding in Stario Portfolio Investments. According to an announcement released today, “on Friday, March 13, 2009 it proceeded with the sale (on-floor) of 4,100,000 shares of Stario at the price of 20 cents per share to ASPIS Holdings Public Company Ltd. The shares are 20.4% of the issued capital of Stario and, therefore, the shareholding of Elma Holdings Public Company Ltd in Stario fell from 20.7% to 0.3%”.

On February 20, Elma announced the sale of 5.99 million shares of Stario to Coumouti Ltd, which belongs to Mr. Stylianos Hadjimarcou, at the price of 10 cents per share. Its stake in Stario fell to 39.9% from 69.7%.

Five days later, on February 25, Elma announced another sale of 3.9 million shares of Stario to Nocioni Holdings Ltd. Its shareholding in Stario fell from 39.9% to 20.7%.

According to Elma’s investments as at September 30, 2008, 31.89% of its total assets (€31.4 million) is destined to investment property.