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CARAMONDANI DESALINATION PLANTS LTD
ACQUIRES 100% OF THE SHARE CAPITAL
OF OSMO SISTEM SRL OF FANO - ITALY
Following a pre-agreement with the group of A&G MONTANARI of Fano, Italy, 28% share holders in the above company, the Board of Directors of Caramondani Desalination Plants Ltd decided to approve the purchase of these shares.
On May 20, 2008 at the Annual General Meeting of the company in Fano, the take over agreement was approved.
As a result of the above Mr Marco Nava resigned as Director and Mr Stavros Caramondanis Jr. was elected in his place.
The purchase was decided with the explicit target to increase sales by penetrating the water desalination business in more European countries, the Middle East and China.
www.osmosistemi.it
www.caramondani.com.cy
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CARAMONDANI BROS PUBLIC CO. LTD
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CARAMONDANI BROS LTD, being a public company quoted on the Cyprus Stock Exchange (CSE) since May 1999, had to
change its name as above with the addition of “PUBLIC CO” to satisfy a new law governing public companies.
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CARAMONDANI ENGINEERS remains a registered trade name.
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NEWS FLASH
Caramondani
C.B. Holdings, a Caramondani family controlled firm purchased a 43.45% stake in Caramondani Bros (CAR) at EUR 0.68 and then proceeded to submit a bid seeking min. 50% plus one share or 100% control at EUR 0.90 per share through a public offer.
The bid price is at a 32% premium to the CSE price prevailing throughout January but is at a 19% discount to the EUR 1.10 book value of the company as at 30 June 2007 according to Financial Mirror calculations.
The EUR 1.10 book value includes the six month profit of EUR 940.000 and is believed to be close to the new book value as at 31 December 2007.
In our opinion, the bid price is fair considering that CAR is a seldom traded title and the bid price of EUR 0.90 is also at a 20% premium to EUR 0.75, the maximum price reached throughout 2007.Mirror calculations.
The EUR 1.10 book value includes the six month profit of EUR 940.000 and is believed to be close to the new book value as at 31 December 2007.
In our opinion, the bid price is fair considering that CAR is a seldom traded title and the bid price of EUR 0.90 is also at a 20% premium to EUR 0.75, the maximum price reached throughout 2007.
The final decision however, will be taken by shareholders. According to the last count, the Laiki Group and its subsidiaries control 5.5% of CAR stock while the Hellenic Bank Group and its subsidiaries control 3.5-4.0%. The remainder is spread among the public.
It seems that CAR is yet one more casualty of the red-tape, which when added to the lack of prospect of raising capital and constant new requirements thrown at companies by the CSE or the CySEC, forces the good ones to pack up and leave.
Source: FINANCIAL MIRROR, February 6 – 12, 2008
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ΑΝΑΚΟΙΝΩΣΗ
C.B. HOLDINGS LIMITED
14 Michalakopoulou str., 1075, Demitas Court No 14, Office 101, Nicosia
P.O. Box 26572 1640 Nicosia
9 Ιουνίου 2008
Χρηματιστήριο Αξιών Κύπρου
Λευκωσία
Επιτροπή Κεφαλαιαγοράς
Λευκωσία
Από: C.B. Holdings Limited
Υπενθύμιση για Δικαίωμα Εξόδου (Sell Out)
Τελευταία ημερομηνία άσκησης του Δικαιώματος Εξόδου είναι η 18 Ιουλίου 2008.
Κατόπιν της απόκτησης του 93% του εκδομένου μετοχικού κεφαλαίου της εταιρείας Caramondani Bros Public Company Limited (η «Caramondani Bros», «Υπό Εξαγορά Εταιρεία») από την C.B. Holdings Limited (η «C.B. Holdings» «Προτείνουσα») μέσω Δημόσιας Πρότασης για την απόκτηση μέχρι και του 100% του εκδομένου μετοχικού κεφαλαίου της εταιρείας Caramondani Bros Public Company Limited ( η «Δημόσια Πρόταση»), η Προτείνουσα θα ήθελε να υπενθυμίσει τους μετόχους της Caramondani Bros που δεν έχουν αποδεχτεί την Δημόσια Πρόταση ότι μπορούν να ασκήσουν το Δικαίωμα Εξόδου (Sell Out) τους εντός τριών μηνών από την ημερομηνία λήξης της περιόδου αποδοχής της Δημόσιας Πρότασης που ήταν η 18 Απριλίου 2008.
Βάσει του άρθρου 37(1) του Περί Δημοσίων Προτάσεων και Εξαγοράς Νόμου του 2007 (ο «Νόμος»), ο κάτοχος των εναπομεινάντων τίτλων της Υπό Εξαγορά Εταιρείας δικαιούται να απαιτήσει από την Προτείνουσα όπως αγοράσει και τους δικούς του τίτλους σε δίκαιη τιμή, δηλαδή €0,90 ανά μετοχή, όπως ήταν και το τίμημα αντιπαροχής στη Δημόσια Πρόταση. Κατά συνέπεια η τελευταία ημερομηνία κατά την οποία μπορεί ασκηθεί το Δικαίωμα Εξόδου είναι η 18 Ιουλίου 2008.
Σύμφωνα με τους όρους της Δημόσιας Πρότασης όπως περιέχονταν στο έγγραφο της Δημόσιας Πρότασης («το Έγγραφο») η Προτείνουσα δήλωσε ότι, εάν αποκτήσει ποσοστό πέραν του 90% στο μετοχικό κεφάλαιο της Υπό Εξαγορά Εταιρείας προτίθεται να προβεί στις απαραίτητες ενέργειες ώστε να σταματήσει τη διαπραγμάτευση της μετοχής της Υπό Εξαγορά Εταιρείας στο ΧΑΚ. Επίσης, η C.B. Holdings δήλωσε ότι δεν θα ασκήσει το δικαίωμα εξαγοράς (Squeeze Out) που της παρέχει το άρθρο 36 (1) του περί Δημοσίων Προτάσεων Εξαγοράς Νόμου του 2007, όπου θα μπορούσε να απαιτήσει τους εναπομείναντες τίτλους
Μετά την πάροδο των τριών μηνών, δηλαδή της 18 Ιουλίου 2008, η Caramondani Bros θα ζητήσει τη διαγραφή της από το Χρηματιστήριο Αξιών Κύπρου και η Caramondani Bros θα παραμείνει δημόσια εταιρεία, μη εισηγμένη σε οποιοδήποτε χρηματιστήριο.
Με εντολή του Διοικητικού Συμβουλίου
Νίκος Λακούφης
Δια LBS Secretaries Limited
Γραμματέας της Εταιρείας
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ΑΝΑΚΟΙΝΩΣΗ
CARAMONDANI BROS PUBLIC COMPANY LIMITED
11 Mnasiades Street, P. O. Box 27156, 1642 Nicosia
Tel: 22 81 81 40, Fax: 22-67 41 97
2 Απριλίου 2008
Χρηματιστήριο Αξιών Κύπρου
Λευκωσία
Επιτροπή Κεφαλαιαγοράς
Λευκωσία
Της Εταιρείας: CARAMONDANI BROS PUBLIC COMPANY LIMITED
Θέμα: Άποψη του Διοικητικού Συμβουλίου επί της Δημόσιας Πρότασης
Το Διοικητικό Συμβούλιο της Caramondani Public Company Limited επισυνάπτει την άποψη του επί της Δημόσιας Πρότασης της C.B. Holdings Limited για απόκτηση ποσοστού μέχρι 100% του εκδομένου μετοχικού κεφαλαίου της Caramondani Bros Public Company Limited.
Αντίγραφα της άποψης του Συμβουλίου καθώς και της Έκθεσης Αξιολόγησης των ανεξάρτητων εμπειρογνωμόνων είναι διαθέσιμα στο εγγεγραμμένο γραφείο της Εταιρείας, Πολυκατοικία Δημόκριτος 4, Διαμ. 14, οδός Μνασιάδου, Αρ. 11, Λευκωσία
Με εντολή του Διοικητικού Συμβουλίου
Νίκος Λακούφης
Γραμματέας της Εταιρείας
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UNAUDITED FINANCIAL RESULTS FOR THE YEAR OF 2007 WITH PROFITS AMOUNTING TO €1.869,003.
Caramondani Bros Public Co Limited
| CARAMONDANI BROS PUBLIC COMPANY LIMITED |
| INTERIM CONSOLIDATED RESULTS |
| FOR THE YEAR ENDED 31 DECEMBER 2007 |
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Unaudited |
Unaudited |
Audited |
Audited |
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2007 |
2007 |
2006 |
2006 |
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CYP |
EURO |
CYP |
EURO |
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| INCOME |
14.579.629 |
24.910.775 |
13.910.838 |
23.768.078 |
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| COST OF SALES |
(11.039.371) |
(18.861.885) |
(10.844.491) |
(18.528.913) |
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| GROSS PROFIT |
3.540.258 |
6.048.890 |
3.066.347 |
5.239.165 |
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| OTHER INCOME |
232.460 |
397.181 |
171.257 |
292.610 |
| ADMINISTRATION EXPENSES |
(2.223.836) |
(3.799.649) |
(2.079.698) |
(3.553.375) |
| COST OF FINANCE |
(158.257) |
(270.398) |
(150.905) |
(257.837) |
| INTEREST INCOME |
1.818 |
3.106 |
14.338 |
24.498 |
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| PROFIT BEFORE TAXATION |
1.392.443 |
2.379.130 |
1.021.339 |
1.745.061 |
| TAXATION |
(201.566) |
(344.396) |
(139.087) |
(237.644) |
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| PROFIT FOR THE YEAR |
1.190.877 |
2.034.734 |
882.252 |
1.507.417 |
| DISTRIBUTED AS FOLLOW: |
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| ATTRIBUTABLE TO THE SHAREHOLDERS |
1.093.879 |
1.869.003 |
813.114 |
1.389.288 |
| MINORITY INTEREST |
96.998 |
165.731 |
69.138 |
118.129 |
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1.190.877 |
2.034.734 |
882.252 |
1.507.417 |
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| PROFIT PER SHARE (CENT): |
| BASED ON THE PROFIT ATTRIBUTABLE |
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| TO THE SHAREHOLDERS |
10,91 |
18,64 |
8,11 |
13,86 |
EXPLANATORY NOTES
ON THE INTERIM CONSOLIDATED RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2007
MAYBE ACCESSED ON REQUEST
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CARAMONDANI ENGINEERS
The Board of Directors of the company, CARAMONDANI BROS PUPLIC CO LTD, at it last meeting on December 13, 2007 decided to promote as of 1.1.2008 the following high ranking personnel as follows:
Mr. G.Y. Caramondanis to the position of Chief Executive Officer (CEO)
Mr. Costas Charalambous to the position of Managing Director
Mr. Panayiotis Christofi to the position of Head Group Accounts
Mr. Costas Charlilaou to the position of Contracts’ Manager
Mr. Iacovos Iacovou to the position of Projects’ Manager
Mr. S.G. Caramondanis to the position of Electromotion Division Manager
Mr. Costas Chrysanthou to the position of Wholesale/Refail Manager
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GROUP ORGANISATION CHART
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The Company had on January 22, 2004 secured the upgrading of their existing ISO-9002:1994 certification to
ISO-9002:2000 level.
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The COMPANY has secured a new registered trade name:
ΚΑΡΑΜΟΝΤΑΝΗ ΗΛΕΚΤΡΟΚΙΝΗΣΗ
CARAMONDANI ELECTROMOTION
A special new shop dedicated to the sale of electric cars*, scooters, bicycles, tricycles, chair lifts and other similar devices for the disabled has been opened at No. 2, Agamemnonos Str., ENGOMI - NICOSIA, near the Hilton Park, Telephone No. +357-22-464899, but can also be accessed from the HQ’s line
+357-22-818140.
This outlet will also handle all the ACCESS AUTOMATION range of products such as complete parking systems, automatic sliding and revolving doors, roller and sectional industrial doors, dock levelers and shelters, finger print recognition locks, proximity and antipass readers, etc. etc.
* also available with diesel engine
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TEU CONSERVICES LTD
Teu Conservices, our container handling and portable house building subsidiary, has secured and is in the process of registering the following TRADE MARKS.
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CARAMONDANI DESALINATION PLANTS LTD
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DHEKELIA DESALINATION PLANT
The 20-YEAR BOOT contract for the complete refurbishment and operation of the Dhekelia desalination plant has been awarded to our company who was the lowest bidder as a result of an international tender invited by the Government of Cyprus.Eventually only four bidders participated. The contract was signed on Sept 30, 2005.FINALLY THE PLANT WAS COMMISSIONED ON MAY 5, 2007.
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NEW EXTENTION TO DHEKELIA DESALINATION PLANT WHICH NOW BECOMES 60.000 M3/DAY
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Due to the very long and extensive drought experienced in Cyprus during 2006 & 2007 the government of Cyprus negotiated the extention of the plant by 20.000 M3/DAY bringing the total plant to 60.000 M3/DAY. This will take place in two stages: a) by end of June 2008 10.000M3 and b) by March 2009 another 10.000 M3/DAY. All other parameters remain as the original contract but we have to deliver the product water via a 600mm ductile iron pipeline 7 km long to a connection point.
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OSMO SISTEMI BUILT AND DELIVERED THE FOLLOWING PARTS OF THE REFURBISHED PLANT
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OSMO SISTEMI SRL at Fano Italy, subsidiary of our company, has been awarded a SWRO 10.000 M3/Day, brackish surface water reverse osmosis treatment plant, including pretreatment for the Khuzestan Steel Company in Persia to produce extra low salinity water for their industry. Start up is envisaged for May 2007. FINALLY THE PLANT WAS COMMISSIONED IN JULY, 2007.
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CARAMONDANIS INVESTMENTS LTD
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CARAMONDANIS INVESTMENTS
has formed the core of a new consortium to participate in the BOT tender for the building and operation of the
600 berth Ayia Napa Marina together with civil contractors ATLAS PANTOU CO LTD, C & A TOUMAZIS CO LTD
and FAMA MARINA LTD, (a company formed by the local Chamber of Commerce and Industry of Famagusta). TENDER
WAS SUBMITTED June 20, 2003.The Famagusta Chamber of Commerce and Industry, following a meeting with the Minister of Commerce & Industry and Tourism, announced that the ongoing negotiations are expected to continue and be finalised before December 2007, however the case has not moved much and we expect some action starting now (January 2008).
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Model of "MAKRONISOS MARINA" at Agia Napa – Cyprus.
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ROAD RESTRAINT SYSTEMS – GUARD RAILS
- FOR SALE -
100 Kilometres of galvanized guardrails complete with their posts (as per drawings below) are readily available
ex stock. Please e-mail Mr P. Theophanous at e-mail: caraplastics@cytanet.com.cy
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Latest
update June 2008.
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