Legal Proceedings Report • Apr 2, 2013
Legal Proceedings Report
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Laiki Capital Public Co Ltd (the «Company»), in response to CSE's circular 4-2013 dated March 28th, 2013 wishes to inform the wider public that as a result of the decree by the Central Bank of Cyprus on Cyprus Popular Bank Public Co Ltd through which only 100.000 Euro per depositor will be transferred to Bank of Cyprus Public Co Ltd , the Company's cash and cash equivalents have temporarily decreased substantially.
More specifically, the Company, together with its wholly owned subsidiary Laiki Financial Services Ltd, kept at Cyprus Popular Bank Public Co Ltd in Cyprus a total of €27.5m in specific intercompany accounts. Additionally, the Company holds approximately 350.000 shares of Bank of Cyprus Public Co Ltd.
It is noted that Laiki Financial Services Ltd, despite the drastic decrease in its available cash and cash equivalents, as an approved Cyprus Investment Firm (CIF) still has adequate regulatory capital and reserves and continues to operate normally (brokerage services, asset management services and investment banking services) both as a Member of the Cyprus Stock Exchange and as a remote member of the Athens Stock Exchange.
The Company follows closely all relevant developments and, when needed or deemed necessary, will proceed with all legal and/or other possible actions to protect its interests and those of its shareholders.
LAIKI CAPITAL PUBLIC CO LTD
Grann Georgia Danou
Secretary
Nicosia, April 2nd 2013
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