Sale of Apollo Heights land in Cyprus
30th Apr 2025 15:45
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
DCI Advisors Ltd
(the "Company" or "DCI")
Sale of Apollo Heights land in Cyprus
30th April 2025
The Directors of the Company are pleased to announce that terms have been agreed for the sale of the land owned by it at Apollo Heights in Paramali, Cyprus for an agreed price of €7.5 million versus a current Net Asset Value of €5.6 million. The Company has signed a non-binding Reservation Agreement giving the purchaser until 30 May to complete their due diligence and sign a binding Sale Agreement and has received a non-refundable deposit of €250,000. Once a Sale Agreement is signed a further 25% of the sale price is expected to be paid by the purchaser with the balance to be paid when the transaction completes, which is expected to take up to three months. The Company will announce updates to the receipt of potential payments in due course.
Enquiries
DCI Advisors Ltd Nicolai Huls / Nick Paris, Managing Directors | nick.paris@dciadvisorsltd.com +44 (0) 7738 470550 |
Cavendish Capital Markets (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) |
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