logicom exemption — logicom exemption — Logicom has been granted an exemption by the Cyprus Securities and Exchange Commission (CySEC) from the mandatory requirement to initiate a public takeover bid for Demetra Holdings Plc.
- This regulatory exemption provides Logicom with greater flexibility in its dealings with Demetra Holdings while ensuring compliance with existing laws.
This decision, announced on Wednesday, follows a formal request submitted by Logicom Services Limited. The exemption is in accordance with the provisions of article 15(1)(ib) of the Takeover Bids Law of 2007, as amended.
The obligation to launch a public bid would have been triggered by an increase in the percentage of voting rights held by Logicom in Demetra. This increase is anticipated to occur when Demetra Holdings Plc acquires its own treasury shares.
The potential acquisition hinges on a special resolution that was discussed during the company’s annual general meeting on June 30, 2026. During this meeting, Demetra received the necessary authorisation to proceed with its share buyback programme for a duration of 12 months.
This regulatory exemption provides Logicom with greater flexibility in its dealings with Demetra Holdings while ensuring compliance with existing laws.
