Legal Proceedings Report • Oct 2, 2013
Legal Proceedings Report
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Laiki Capital Public Co Ltd (the "Company"), following a previous announcement dated April 02, 2013, regarding the amount of cash and cash equivalents that was impaired as a result of the Decree issued by the Central Bank of Cyprus on Cyprus Popular Bank Public Co Ltd (R.A.D. 104/2013), announces that an amount of around €2,5 million of its wholly owned subsidiary, Laiki Financial Services Limited, which was initially impaired, has been released.
More specifically, this amount relates to bank guarantees that were issued in favour of quasi-government organisations and were in effect at the date of the Decree.
As a result, the cash and cash equivalents of Laiki Capital Public Co Ltd Group, where "Group" means the Company and its subsidiary, Laiki Financial Services Limited, will be adjusted accordingly in the interim financial statements for the period ended September 30, 2013, in relation to the interim financial statements for the six month period ended June 30, 2013 (announcement dated August, 20, 2013)
Given the above developments, Laiki Financial Services Limited enhances its leading position in the financial services sector in Cyprus.
It is important to note that the Company continues to follow closely all relevant developments and, at the same time, considers all legal and/or other possible actions to protect its interest.
LAIKI CAPITAL PUBLIC CO LTD
Georgia Danou
Nicosia, 02 October 2013
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