Legal Proceedings Report • Jun 27, 2024
Legal Proceedings Report
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LCP Holdings and Investments Public Ltd (the "Company") wishes to inform investors that it has signed a settlement agreement ("Settlement") with the companies Piraeus Financial Holdings S.A., Euroinvestment & Finance Public Ltd and Astrobank Public Company Limited concerning claims against the Company and by the Company in connection with the judgments of the Nicosia District Court in Actions No. 8352/2006 and 1720/2010 respectively, as well as in connection with Action No. 8079/2014 of the Nicosia District Court which is pending against the Company.
Pursuant to the Settlement, the Company has made, inter alia, a payment of €3,950,000 to Piraeus Financial Holdings S.A. and of €50,000 to Astrobank Public Company Limited, while it has received 300,000 ordinary shares of the company Euroinvestment & Finance Public Limited.
The Settlement is expected to have a significant positive impact on the Company's profit and loss account for the current year as well as on its balance sheet.
By order of the Board of Directors
The Cyprus Investment and Securities Corporation Ltd Secretary
Nicosia, 27 June 2024
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