**Logicom Granted Exemption from Demetra Holdings Takeover Requirement**
The Cyprus Securities and Exchange Commission (CySEC) has announced that it has granted Logicom Services Limited an exemption from the obligation to launch a public takeover bid for Demetra Holdings Plc. This decision, made public on Wednesday, comes in response to a formal request submitted by Logicom Services to the regulatory body.
The exemption was granted in accordance with article 15(1)(ib) of the Takeover Bids Law of 2007, which outlines the circumstances under which such exemptions may be issued. Typically, a public takeover bid would be required if a company’s voting rights in another company increase beyond a certain threshold. In this instance, Logicom Services is expected to see an increase in its voting rights in Demetra Holdings as a result of the latter’s plan to acquire its own treasury shares.
The potential increase in voting power is linked to a special resolution that was proposed at Demetra Holdings' annual general meeting, which took place on June 30, 2026. The resolution aimed to authorize the buyback of the company’s own shares for a period of 12 months. Following the meeting, Demetra Holdings received the necessary authorization to proceed with its share buyback program.
This regulatory exemption is significant as it allows Logicom Services to avoid the complexities and obligations associated with a public takeover bid, while still enabling Demetra Holdings to manage its share structure effectively through the buyback initiative. The decision reflects the regulatory framework in place designed to facilitate corporate actions while protecting shareholder interests.
As the situation develops, stakeholders will be closely monitoring the implications of this exemption on both Logicom Services and Demetra Holdings, particularly in terms of corporate governance and market dynamics.