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IKTINOS HELLAS S.A. 2006

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Press Release

03.04.2018

IKTINOS HELLAS SA informs the investing public that on 30/3/2018  completed the acquisition of the remaining 79,656% owned by the company Dolphin CI Thirteen Ltd to the Cypriot company Latirus Ltd and thus owns 100% of Latirus Ltd .
The total redemption price was € 14,000,000, of which € 1,400,000 was paid on 18/1/2018 and the remaining € 12,600,000 was paid in cash.
Latirus Ltd owns the 97.60% stake of IKTINOS TECHNIKI & TOURISTIKI SA, which is planning to develop the complex tourist facility at Ormos Faneromeni, Skopis Municipality of Sitia, in an area of ​​approximately 2,800 acres, comprising:
• 5 star hotel,
• Thalassotherapy center (spa), 100 people,
• Conference center for 200 people,
• 18-hole golf course
• Marina 85 tourist boats,
• Two residential areas (PERPO) where cottages (maisonettes) will be built.

IKTINOS TECHNIKI & TOURISTIKI SA will immediately develop the infrastructure works of the residential area (PERPO) in Ormos Faneromeni (roads, networks, etc.) in order to create the conditions for the construction of cottages and communal functions.
At the same time, it will create the infrastructure (tourist yacht shelter, sports basin, coastline), for the construction of the hotel complex with a conference center of 200 people and a thalassotherapy center for 100 people.
For the hotel complex, a large investment tourist-hotel chain will be sought in order to develop and exploit it with or without our own participation.
To this end, the parent company IKTINOS HELLAS SA will proceed to a gradual increase in the share capital of IKTINOS TECHNIKI & TOURISTIKI SA for each amount that will be required.


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