Press Releases

IKTINOS HELLAS S.A. 2006

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Press Release

19.01.2018

IKTINOS HELLAS SA informs the investing public that it has signed an agreement with Dolphin CI Thirteen Ltd, (interests of Mr. Miltos Kambouridis), for the acquisition of the 79,656% stake in the company Latirus Ltd.
IKTINOS HELLAS SA already owns the 20,344% of the Latirus Ltd and with this acquisition, it will own all the shares of Latirus Ltd.
Latirus Ltd holds the 97.60% stake of IKTINOS HELLAS TECHNIKI & TOURISTIKI SA, which is going to develop the complex tourist facility at Ormos Faneromeni, Skopi Municipality of Sitia, in an area of ​​2.800 acres, which will include :
• 5 star hotel,
• Thalassotherapy center (spa), 100 people,
• Conference center for 200 people,
• 18-hole golf course
• Marina 85 tourist boats,
• Two residential areas,
with 300 maisonettes .
Until the conclusion of the agreement, IKTINOS HELLAS SA will seek for a new  investor and  cooperation with IKTINOS HELLAS , will invest in this project  which is licensed and ready for construction after a 10-year  to obtain the relevant permits .
The acquisition price of this percentage (79,656%) amounts to 14,000,000 to 15,000,000 euro, depending on the method of payment.
With the signing of the agreement, the amount of 1,400,000 euro was paid, and 7.966% of the company was acquired, so today IKTINOS HELLAS SA owns 28.31% of Latirus Ltd.
The signed agreement will be completed by 30/4/2018, after the total payment.


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