20/02/2009 12:21
Options Cassoulides announced today the sale of 50% of the share capital that it holds in N.D.D Special Publications Ltd. According to the announcement, “subsidiary, Options Cassoulides Global Publishing Ltd signed a sale agreement with ODUYKA HOLDINGS LTD for the 50% of the share capital that it holds in N.D.D Special Publications Ltd.
The agreement provides for the payment of €1,380,000 cash as follows:
1. €80,000 with the signing of the agreement
2. €1,320,000 until June 30, 2009 (the latest)
The agreement includes a 5-year contract of cooperation and concerns all printing activities between I.G Cassoulides & Sons Ltd and N.D.D Special Publications Ltd.
The agreement is subject to the Board of Directors of Options Cassoulides Plc approval, which will examine the issue at a meeting to take place on February 26, 2009.
The decision for the sale of 50% of the share capital of N.D.D Special Publications Ltd falls under the Group’s strategy for non participation in investments that does not hold a majority stake”.
The agreement provides for the payment of €1,380,000 cash as follows:
1. €80,000 with the signing of the agreement
2. €1,320,000 until June 30, 2009 (the latest)
The agreement includes a 5-year contract of cooperation and concerns all printing activities between I.G Cassoulides & Sons Ltd and N.D.D Special Publications Ltd.
The agreement is subject to the Board of Directors of Options Cassoulides Plc approval, which will examine the issue at a meeting to take place on February 26, 2009.
The decision for the sale of 50% of the share capital of N.D.D Special Publications Ltd falls under the Group’s strategy for non participation in investments that does not hold a majority stake”.
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