Share Name Share Symbol Market Type Share ISIN Share Description
Etaireia Investments plc NEX:ETIP NEX Ordinary Share GB00B1Z2XX18
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Company Update

26/09/2018 5:29pm

GlobeNewswire Inc.


Etaireia Investments (NEX:ETIP)
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Company Update

26 September 2018

ETAIREIA INVESTMENTS PLC

(“Etaireia" or the "Company")

Company Update

In the announcement published on 19 April 2018, the Company stated that it had commenced an independent investigation on transactions undertaken by its former chairman Mr Baron Bloom. The Company would like to disclose the findings of the investigation.

The Company engaged Bishop & Sewell LLP to undertake the independent report. The following acquisitions were revisited: Whitehouse Business Park, Girvan Dev Limited, Pacha Cleator Limited and Ivy Leaf Club. The conclusion of the investigation is that these assets and their valuations did not show any issues. The consideration paid for these acquisitions was in accordance with the valuation reports.

Following the Ivy Leaf Club acquisition, it was noted that Mr Bloom failed to report that he received £6,230 of rent due to Etaireia from a tenant in respect of that property. As Mr Bloom was due general expenses which he failed to claim at the time and is still due substantial outstanding salary  the Company will not take action against him..

The report has made a number of minor procedural recommendations which the new Board has adopted.

     Enquiries:Etaireia Investments Plc  Tel:  07870 200470Myles Cunliffe   

NEX EXCHANGE CORPORATE ADVISER:

Alexander David Securities Limited David Scott –Corporate Finance James Dewhurst – Corporate Broking  Telephone: +44 (0) 20 7448 9820http://www.ad-securities.com49 Queen Victoria Street, London EC4N 4SA

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