Business
Update - final pmt to be rec'd from Mr Aristodemou
DCI Advisors Ltd. announced a delay in receiving a €6,150,000 final cash payment from Mr. Aristodemou, part of a transaction to sell interests in Aristo Developers. The delay is due to pending tax clearance in Cyprus. Consequently, the transfer of 908 ordinary shares (10.68% holding) in DCI Holdings Two Limited to Mr. Aristodemou is also delayed. Sean Hurst and Nicholas Paris resigned from the DCI Holdings Two Limited board as previously planned. The company anticipates receiving the tax clearance and completing the transaction within the next few months. Disclaimer*
About this update from Dci Advisors Limited
[{"type":"text","content":"\n\nDCI Advisors Ltd\n(\"DCI\") or the (\"Company\")\n \nUpdate on the final cash payment to be received from Mr Aristodemou\n22nd August 2025\n \nFurther to the announcement that was released by the Company on 21st February 2025, the Directors of the Company announce that the final cash payment of €6,150,000 that is part of the transaction to sell its interests in Aristo Developers to Mr Aristodemou was not paid on 21st August as tax clearance in Cyprus for the sale transaction have not yet been received. As a result, the Company has delayed the transfer of its remaining 908 ordinary shares in DCI Holdings Two Limited (\"DCI H2\"), which owns Aristo Developers, to Mr Aristodemou. This represents a holding of 10.68% of the ordinary shares. It is anticipated that the clearances will be obtained within the next few months so that this transaction can then be completed. Sean Hurst and Nicholas Paris who are both Directors of DCI resigned from the Board of Directors of DCI H2 on 21st August as previously agreed.\n \nFurther announcements will be made in due course once the necessary tax clearance is received, and the transaction can be concluded.\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":4174,"tagName":"div"}]