The Cyprus Securities and Exchange Commission (CySEC) has granted Dinos Lefkaritis an exemption from the requirement to submit a mandatory public takeover bid in relation to his planned acquisition of additional shares in Petrolina (Holdings) Public Ltd.
This decision, made by the commission’s board on July 20, 2026, follows an application from Lefkaritis and was publicly announced on July 27, 2026. The exemption pertains to the acquisition of up to 10,000 shares in Petrolina, which constitutes approximately 0.0114 per cent of the company’s issued share capital and voting rights.
CySEC clarified that without this exemption, Lefkaritis would have been obligated to extend a public takeover bid to all remaining shareholders of Petrolina under current takeover legislation. The decision allows him to proceed with the share acquisition without triggering this requirement.
The approved acquisition must be completed within a six-month timeframe from the date of the decision, giving Lefkaritis a clear window to execute his plans without the complexities of a mandatory bid.
