Second cash payment received from Mr Aristodemou.


    21 May 2025 23:11:49
  • Source: Sharecast
RNS Number : 6515J
DCI Advisors Limited
21 May 2025
 

DCI Advisors Ltd

("DCI") or the ("Company")

 

Second cash payment received from Mr Aristodemou

21 May 2025

 

Further to the announcement that was released by the Company on 21 February 2025, the Directors of the Company are pleased to announce that the second cash payment of €4,108,830 that is part of the transaction to sell its interests in Aristo Developers to Mr Aristodemou has now been made.

 

The Company received €908,830 and additionally €3,200,000 was paid into an escrow account until latest 31st December 2026 to guarantee DCI's obligation for its share in any liabilities that might arise on DCI Holdings Two Limited and its subsidiaries relating to the period until Completion that was not provided for at the time of signing the Sale and Purchase Agreement. The remaining €6,100,000 that is due to the Company will be paid on 21st August 2025, subject to tax clearances in Cyprus.

 

In exchange for these payments, the Company has transferred a further 606 ordinary shares in DCI Holdings Two Limited ("DCI H2"), which owns Aristo Developers, to Mr Aristodemou, and the Company's holding in DCI H2 has now fallen to 10.68% of the total number of ordinary shares in issue. The remaining ordinary shares held by the Company in DCI H2 will be transferred to Mr Aristodemou when the final payment is made, and the Company will issue a further announcement at that time.

 

Enquiries

DCI Advisors Ltd

Nicolai Huls / Nick Paris, Managing Directors

 

nick.paris@dciadvisorsltd.com

+44 (0) 7738 470550

Cavendish Capital Markets Limited (Nominated Adviser & Broker)

Jonny Franklin-Adams / Edward Whiley (Corporate Finance)

Pauline Tribe (Sales)

 

 

+44 (0) 20 7220 0500

 

FIM Capital Limited (Administrator)

Lesley Lennon / Nick Oxley (Corporate Governance)

 

llennon@fim.co.im / noxley@fim.co.im

 

 

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