Completion of the Sale of the Company’s Building in Pylaia, Thessaloniki
The Company successfully completed today the sale process of its entire building (that is, both the section it already owned and the section it acquired through the repayment of the leasing agreement) with the signing of the final notarial deed. The total sale price amounted to €5.9 million. It is noted that, following the sale of the building, the Company will continue to house its operations therein, without any change whatsoever to its functionality, having secured its continued stay through a long-term lease agreement.
The Company’s total cash reserves currently amount to approximately €7 million, while, as previously reported, the Company has zero outstanding liabilities towards banks, social insurance funds, or the tax authorities. Taking into account the particularly strong liquidity ensured by the sale of the building, combined with the ongoing liquidity generated by its operating profitability, the Management continues to hold exploratory discussions and contacts regarding strategic participation in additional activities beyond the existing ones, with the aim of increasing and diversifying turnover and EBITDA through acquisitions and/or partnerships with high value-added companies engaged in complementary and highly specialized fields.
The Company’s Management remains committed to implementing its strategic plan aimed at maximizing shareholder value and, within the next few days, will propose the convening of an Extraordinary General Meeting of Shareholders for the approval of a capital return, the details of which will be announced in a subsequent communication.