Cypriot investment firm Demetra Holdings has clarified that the appointment of company official Ioannis Eirinarchos to the board of technology company Logicom was made in his personal capacity and does not represent Demetra Holdings.

In an announcement to investors, Demetra said Eirinarchos, who is a company official, had been appointed as a non-independent, non-executive director of Logicom Plc, as announced by Logicom earlier in the day.

The company stressed that Eirinarchos will not represent Demetra Holdings on the Logicom board.

It also clarified that his appointment was not accompanied by any agreement, arrangement or understanding between Demetra Holdings and Logicom or its shareholders.

Demetra said it has a conflict-of-interest management framework in place covering Eirinarchos’ dual capacity as a company official and a member of Logicom’s board.

Logicom originally announced on Tuesday that its board had approved the appointment of Ioannis Kosmas Eirinarchos as a non-independent, non-executive board member, with immediate effect.

Following the appointment, Logicom’s board decided at a meeting on August 25, 2026, to reconstitute its internal committees in line with the provisions of the Corporate Governance Code, with the changes also taking effect immediately.

The Nomination Committee is chaired by independent non-executive director Christoforos Hadjikyprianou, with executive non-independent director Varnavas Eirinarchos and independent non-executive director Giorgos Papaioannou serving as members.

The Audit Committee is chaired by independent non-executive director Andreas Konstantinidis and includes independent non-executive directors Giorgos Papaioannou and Neoclis Nicolaou, as well as newly appointed non-executive non-independent director Ioannis Kosmas Eirinarchos.

The Remuneration Committee is chaired by Hadjikyprianou, with Papaioannou serving as its other member.

The Risk Management Committee is chaired by independent non-executive director Nicolaou and includes Papaioannou, Hadjikyprianou and Eirinarchos.

The ESG Committee, which deals with environmental, social and governance matters, is chaired by Konstantinidis and includes executive non-independent director Anthoulis Papachristoforou, Nicolaou and Eirinarchos.

The clarification from Demetra comes after the Logicom announcement setting out Eirinarchos’ appointment and his subsequent participation in several of the company’s board committees.