20/01/2011 10:17
Amathus Public Ltd announced that it has secured all necessary approvals for the transfer of its activities – except the hotels – to its 100% subsidiary, Amathus Corporation.
According to the announcement, the reorganization includes the transfer of all activities and investments – except for the hotels which remain to Amathus Public Ltd – to Amathus Corporation Ltd. Amathus Corporation Ltd is 100% subsidiary of Amathus Public Ltd.
Amathus Corporation Ltd is 100% subsidiary of Amathus Public Ltd.
The Company believes that the reorganization is not expected to affect the Company’s results in any way since it is about an operational reorganization.
In 2009, ANC recorded losses of €5.3 million against profits of €343.4 thousand in 2008 due to the drop in its turnover and the refurbishment of Amathus Beach Hotel in Limassol.
In the first six months of 2010, its losses fell to €2.2 million against losses of €4.1 million in the corresponding period of 2009.
According to the announcement, the reorganization includes the transfer of all activities and investments – except for the hotels which remain to Amathus Public Ltd – to Amathus Corporation Ltd. Amathus Corporation Ltd is 100% subsidiary of Amathus Public Ltd.
Amathus Corporation Ltd is 100% subsidiary of Amathus Public Ltd.
The Company believes that the reorganization is not expected to affect the Company’s results in any way since it is about an operational reorganization.
In 2009, ANC recorded losses of €5.3 million against profits of €343.4 thousand in 2008 due to the drop in its turnover and the refurbishment of Amathus Beach Hotel in Limassol.
In the first six months of 2010, its losses fell to €2.2 million against losses of €4.1 million in the corresponding period of 2009.
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