Business
Transfer of land plots
Transfer of land plots.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n\nDCI Advisors Ltd\n(\"DCI\") or the (\"Company\")\n \nTransfer of land plots \n \n7 May 2025\n \nFurther to the announcement that was released by the Company on 21 February 2025, the Directors of the Company are pleased to announce that the three plots of residential land located around Paphos in Cyprus that are part of the transaction to sell our interests in Aristo Developers to\nMr Aristodemou have now been transferred to the Company.\n \nIn exchange for the land plots which were transacted at €12.8 million (inclusive of VAT) as per independent valuation made, the Company has transferred a further ordinary 1,887 shares in DCI Holdings Two Limited, which owns Aristo Developers, and the Company's holding in that company has now fallen to 17.81% of the total number of ordinary shares in issue.\n \nThe land plots have division planning permissions and are to be sold by the Company rather than be developed so they will be retained as current assets in the accounting records. One plot of land is located in Peyia which is a popular residential village to the west of Paphos and it comprises 12 individual building sites on which 12 separate residential houses can be constructed. It benefits from far reaching views across the coast at Coral Bay. The other two plots are adjacent to each other and are located on the seafront near the village of Mandria to the east of Paphos and comprise a total of 38,000 square meters of development land. The sale process for these plots is now underway.\n \n \nEnquiries\n\n\n\n\nDCI Advisors Ltd\nNicolai Huls / Nick Paris, Managing Directors\n\n\n \[email protected]\n+44 (0) 7738 470550\n\n\n\n\nCavendish Capital Markets Limited (Nominated Adviser & Broker)\nJonny Franklin-Adams / Edward Whiley (Corporate Finance)\nPauline Tribe (Sales)\n\n\n \n \n+44 (0) 20 7220 0500\n\n\n\n\n \nFIM Capital Limited (Administrator)\nLesley Lennon / Nick Oxley (Corporate Governance)\n\n\n \[email protected] / [email protected]\n \n\n\n\n\n \n\n","length":4798,"tagName":"div"}]