The Cyprus Securities and Exchange Commission (CySEC) announced on Wednesday that it has granted an exemption to Logicom Services Limited regarding the mandatory requirement to launch a public takeover bid for Demetra Holdings Plc.

This regulatory decision follows a formal request submitted by Logicom Services Limited to the commission.

The exemption was granted in accordance with the provisions of article 15(1)(ib) of the Takeover Bids Law of 2007, as amended.

The obligation for a public bid would have otherwise been triggered by an increase in the total percentage of voting rights held by Logicom Services Limited in Demetra Holdings Plc.

This increase in voting power is expected to occur as a direct result of Demetra Holdings Plc acquiring its own treasury shares.

The trigger for this potential acquisition hinged on whether the proposed special resolution to authorise the buyback of own shares for a 12-month period was approved during the company’s annual general meeting held on June 30, 2026.

Indeed, the company received authorisation to continue its share buyback programme for a period of 12 months.