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LONDON - DCI Advisors Ltd announced Friday that the final €6,150,000 payment from Mr. Aristodemou for the sale of its interests in Aristo Developers has been delayed as tax clearance in Cyprus has not yet been received.
The payment, which was due on August 21, is part of a previously announced transaction. As a result of the delay, DCI has postponed the transfer of its remaining 908 ordinary shares in DCI Holdings Two Limited, which represents a 10.68% stake in the company that owns Aristo Developers.
The company expects to receive the necessary tax clearances "within the next few months" to complete the transaction, according to the press release statement.
Despite the payment delay, DCI directors Sean Hurst and Nicholas Paris resigned from the board of DCI Holdings Two Limited on August 21 as previously agreed.
DCI Advisors indicated it will provide additional updates once the tax clearance is received and the transaction can be finalized.
The announcement follows a previous statement released by the company on February 21, 2025, regarding the sale arrangement with Mr. Aristodemou.
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