66.03% of ELTRAK S.A. in the hands of English CP Holdings LTD

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ELTRAK S.A. announced the finalization of the transfer procedure of 66.03% of the company’s shares to ELTRAK CP LTD, a subsidiary of English CP Holdings LTD. This percentage of the share capital of the company was held by:

  • Anastasios – Alexandros Politis 11.027% (1,549,332 shares)
  • Isabella Kova 10.9% (1,530,000 shares)
  • Georgios Kovas 6.405% (900,000 shares)
  • Other Politis family members 5.32%

The total price of the transaction amounts to € 30,505,261.70 with cost per share at € 3,288.

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In fact, the company’s new Board of Directors was formed on 22 July consisting of:

  • Alexei Schreier, Chairman of the Board, executive member
  • Natasa Kova, Vice President and Managing Director, executive member
  • Fragiskos Doukaris, executive member
  • Konstantinos Schinas, non-executive member
  • Athanasios Tsotsoros, an independent non – executive member, and
  • Konstantinos Mitropoulos, an independent non-executive member.

Mr. Athanasios Tsotsoros was also appointed Chairman of the Company’s Audit Committee until the next Shareholders’ General Meeting.

CP HOLDINGS LTD is a private family business with principles that fit perfectly with those that ELTRAK has adopted in its current course. Headquartered in Watford, England, CP Holdings has investments in the United Kingdom, Europe, the Middle East and Africa as well as the Caterpillar Dealership in the Israeli and Hungarian markets.

For its part, ELTRAK S.A. asserts that neither a change of activity or management level is expected in the short or medium term.