Salamis Tours is set to be fully acquired by E.V.H. Investments Limited, as the public tender offer for 100 per cent of its issued share capital has been completed.

According to reports that emerged on Tuesday, the company now plans to carry out a ‘squeeze out’ as soon as possible.

The public offer, which had been submitted on November 12, 2024, closed on Monday, with a final acceptance rate of 4.55 per cent after review.

The acceptance and transfer forms submitted in accordance with the announcement represent 1,662,366 shares of Salamis.

Combined with the 86.64 per cent already held by Salamis at the expiry of the takeover offer on January 31, 2025, E.V.H. now holds a total direct stake of 91.193 per cent of the issued share capital.

As stated, payments to shareholders who accepted the offer have been processed via cheques and bank transfers.

In addition, E.V.H. has completed the over-the-counter transfer of securities through the Cyprus Investment and Securities Corporation Limited (CISCO).

Further to the announcement issued on February 4, 2025, regarding the outcome of the takeover bid, E.V.H. intends to exercise its ‘squeeze out’ right under Article 36 of the relevant legislation to acquire full ownership of Salamis at a price of €4.20 per share.

This may be carried out within three months following the expiration of the public offer’s acceptance period, with E.V.H. aiming to proceed without delay.

Following the completion of the process, the company intends to apply for the delisting of Salamis from the Cyprus Stock Exchange (CSE).

Finally, it should be mentioned that the CISCO is serving as the financial advisor to EVH Investment for the public offer process.