The Cyprus Securities and Exchange Commission (CySEC) has granted Logicom Services Limited an exemption from making a public offer to Demetra Holdings Plc shareholders. This decision was announced following the commission’s session on September 29, 2025, where Logicom formally requested the exemption.
Logicom: Details of the Exemption
The exemption permits Logicom to increase its voting rights in Demetra Holdings without the obligation to launch a public takeover bid. This increase stems from Logicom’s acquisition of shares under Demetra’s ongoing share buyback programme.
Share Buyback Programme Timeline
The buyback programme, which is crucial to Demetra’s strategy, is set to continue until June 23, 2026. Normally, any increase in a shareholder’s voting rights above certain thresholds would necessitate a public offer to all other shareholders. However, CySEC cited specific legal provisions that allowed for this waiver.
Regulatory Insight
No objections or appeals were filed against this exemption, indicating a smooth regulatory process for Logicom. The decision provides Logicom with the flexibility to continue acquiring shares as Demetra executes its buyback strategy, aligning with the company’s objectives set forth during its annual general meeting.
Implications for Shareholders
The approval allows Logicom to strengthen its position in Demetra without the immediate need for a public offer. This development is seen as beneficial for both companies, allowing for a more strategic alignment as Demetra works through its buyback initiative.
