DCI Advisors Limited
22 July 2026
DCI Advisors Ltd
(the "Company" or "DCI")
Release of Monies from Escrow in Cyprus
22 July 2026
Further to the announcements made by the Company on 21 February 2025 and 21 May 2025 in respect of the sale of its interests in Aristo Developers Limited ("Aristo"), the Board is pleased to announce that, in relation to the €3.20 million held in escrow, the liabilities have now been agreed and settled following which a €2.90 million release to the Company has been made and the escrow account is being closed.
In relation to the outstanding settlement under the agreements with Mr Aristodemou, the Company is due to receive:
· an amount of €6.15 million in respect of the sale of its ordinary shares in DCI Holdings Two Limited ("DCI H2") which owns the shares in Aristo; and
· €3.50 million in respect of the sale of its Class A Preferred shares in DCI H2 which represents the ownership and management rights of Venus Rock, an Aristo wholly owned subsidiary.
These transactions will occur individually, following corresponding receipt of the respective tax clearances from the Cyprus tax authorities and settlement of respective taxes arising. The Company's valuation of these receivables includes a provision for the estimated taxes due.
The Company will announce further updates on these matters in due course.
Enquiries
|
DCI Advisors Ltd Sean Hurst |
seanlhurst@gmail.com Tel: +33 6 14 50 25 08 |
|
Cavendish Capital Markets (Nominated Adviser & Broker) Jonny Franklin-Adams / Edward Whiley (Corporate Finance) Pauline Tribe (Sales) |
+44 (0) 20 7220 0500 |
|
FIM Capital Limited (Administrator) Caitlin Sleight/Nick Oxley (Corporate Governance) |
csleight@fim.co.im /noxley@fim.co.im |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.