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Interim Management Statement

2015-11-04

Pursuant to Article 11 of the Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law of 2007 (L. 190 (I) of 2007) please find below the Group’s Interim Management Statement for the period from the end of the first half of 2015 to the present day, which has not been approved by the Group’s external auditors. INTERIM MANAGEMENT STATEMENT Throughout the period under review, the Group pursued the same activities as in 2014 and the first half of 2015. The material events and transactions in the period and their impact on the Group’s financial situation are presented below: The Group’s turnover and gross profit have decreased in the period under review by 4.3% and 7.1% respectively compared to the corresponding period of last year, due to the negative market conditions. During the first half of 2015, the Group’s subsidiary, Handy Snacks Ltd, acquired the operations, property and brands & trademarks of the industrial unit and brand of BAKANDYS products and GREENLIFE organic foods as well as other related food import agencies. The Management pursues its efforts to increase sales and profitability. The ongoing negative market conditions, liquidity problems and uncertainty, coupled with the negative psychology of Cypriot citizens, are expected to continue to affect the results of the Group.

Damages - Rolandos

2015-11-20

The Companies ALKIS H. HADJIKYRIACOS (FROU-FROU BISCUITS) PUBLIC LTD and FROU-FROU INVESTMENTS LTD together with Michael (Alkis) H. Hajikyriakos, in their capacity as minority shareholders of the public company ROLANDOS ENTERPRISES PUBLIC LTD, have filed today, 20/11/2015, with the District Court of Nicosia, a derivative action against ROLANDOS ENTERPRISES PUBIC LTD, Rolandos Loizou, Yiola Loizou, Andreas Loizou, Zoe Loizou and Soteris Loizou, seeking, inter alia, damages totalling of 8,207,750.00 euro plus costs, representing the amount by which ROLANDOS ENTERPRISES PUBLIC LTD was burdened and/or damaged as a result of and/or due to, inter alia, negligence and/or deceit and/or false pretenses and/or fraud and/or conspiracy by the Defendants, members of the Board of Directors, against the company ROLANDOS ENTERPRISES PUBLIC LTD and/or conspiracy by the Defendants to cause financial damage to ROLANDOS ENTERPRISES PUBLIC LTD and/or as a result of the violation of their duties by virtue of the law and/or regulations and/or their position, towards and/or in connection with and/or against ROLANDOS ENTERPRISES PUBLIC LTD. ALKIS H. HADJIKYRIACOS (FROU-FROU BISCUITS) PUBLIC LTD Andreas Theocharides CFO

 

Due Diligence Rolandos Enterprises Publi

2015-11-11

ALKIS H. HADJIKYRIAKOS (FROU-FROU BISCUITS) PUBLIC LTD and FROU-FROU INVESTMENTS LTD, together with Michalis (Alkis) H. Hadjikyriakos, in their capacity as minority shareholders of ROLANDOS ENTERPRISES PUBLIC LTD, have filed today 11/11/2015 at the Nicosia District Court, an application against ROLANDOS ENTERPRISES PUBLIC LTD, requesting, inter alia, the issue of a court order for the appointment of an Inspector for the conduct of a due diligence study, in order to examine in depth and in detail the affairs, accounts and financial data of ROLANDOS ENTERPRISES PUBLIC LTD and of all its subsidiaries for the period 2000-2015.