E.V.H. Investments completes squeeze out and acquisition of 100% of Salamis Tours

E.V.H. Investments Limited has announced the completion of the squeeze out process it carried out for the acquisition of 100% of the share capital of the company Salamis Tours.

As stated in a relevant announcement to the Cyprus Stock Exchange, the consideration offered upon the exercise of the Squeeze Out Right for the acquisition of Salamis shares not held by E.V.H. Investments is the same as that offered during the Public Offer process, namely €4.20 per Salamis share payable in cash.

The total consideration, as noted, has been paid to the beneficial shareholders of Salamis on 11 April, 2025 along with an accompanying information letter sent to them.

The payment of the cash consideration was made either by sending a check, by post, to the address of the beneficiaries registered with the Central Depository / Registry of the Cyprus Stock Exchange, or by transferring the consideration to a bank account of the participants as instructed by the beneficiaries, or by transferring the consideration to a bank account opened by the CSE for this purpose, for all securities that were pledged and encumbered.

The CSE has been informed of the payment of the cash consideration to the beneficial shareholders of Salamis and has proceeded with the transfer of the remaining 3,217,285 shares, i.e. 8.807% of the issued share capital of Salamis in the name of E.V.H. Investments, pursuant to article 36 of the Public Takeover Bids Law, L.41(I)/2007 to 2022 (the “Law”) and the provisions of the Regulatory Decision of the CSE KDP 96/2008 as amended, which governs, among other things, the procedure of the Right of Redemption.

It is noted that the Cyprus Investment and Securities Corporation Limited (CISCO) has acted as Financial Advisor to E.V.H. Investments in the context and for the purposes of the Public Offer process, while CISCO has acted as Underwriter within the context of the Regulatory Decision.

(Source: InBusinessNews)