Mr. Sparsis Modestou has resigned from Director of the Company. In his statement during yesterday's meeting of the Board of Directors, he stated, inter alia, the following:
Due to my daughter's promotion in the position of Financial Services Director of CYTA with which Logicom Group cooperates in various areas and may in the future pursue further cooperations, I consider that it is my obligation to resign from Director of Logicom Public Limited with immediate effect. I wish to thank the shareholders of Logicom for their trust, my colleagues at the Board of Directors and the managers for our productive cooperation of 16 years, which contributed in the establishment and growth of the Group. I am grateful and proud for all that we have accomplished together.
The resignation of Mr. Sparsis Modestou will deprive the Board of Directors of Logicom of the valuable services of a member with special professional skills and exemplary morals. In acknowledging the seriousness of the reasons that led to his decision, we thank him for his valuable contribution to the Group during his long-term service. We will honour Mr. Sparsis Modestou as appropriate.
The Board of Directors and the Corporate Governance Committees in which Mr. Sparsis Modestou participates will be restructured and a relevant announcement will be issued.
Due to my daughter's promotion in the position of Financial Services Director of CYTA with which Logicom Group cooperates in various areas and may in the future pursue further cooperations, I consider that it is my obligation to resign from Director of Logicom Public Limited with immediate effect. I wish to thank the shareholders of Logicom for their trust, my colleagues at the Board of Directors and the managers for our productive cooperation of 16 years, which contributed in the establishment and growth of the Group. I am grateful and proud for all that we have accomplished together.
The resignation of Mr. Sparsis Modestou will deprive the Board of Directors of Logicom of the valuable services of a member with special professional skills and exemplary morals. In acknowledging the seriousness of the reasons that led to his decision, we thank him for his valuable contribution to the Group during his long-term service. We will honour Mr. Sparsis Modestou as appropriate.
The Board of Directors and the Corporate Governance Committees in which Mr. Sparsis Modestou participates will be restructured and a relevant announcement will be issued.