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End of dispute in Frou Frou

03/04/2009 11:27
The family dispute in Frou Frou has ended at the current stage.

According to an announcement released today, “the application of Ms. Nora Dikaiou against our Company under the number 552/2007 has been rejected and withdrawn with an official decision by the Nicosia District Court. After securing SEC’s permit, the case was settled on 30/3/2009 with the acquisition of all shares and warrants that Ms. Dikaiou and the members of her family held by Mr. Michalis (Alkis) Hadjikyriakos, Executive Chairman and Managing Director of Alkis H.Hadjikyriacos (Frou Frou Biscuits) Public Ltd”.

It is worth noting that Ms. Dikaiou requested the dissolution of the Company due to the despotic behaviour of the major shareholders and her brother, Alkis Hadjikyriakos.