Announcement on Business Plan Implementation
ANNOUNCEMENT
We would like to inform Cyprus Stock Exchange (“CSE”) and the investing public in regards to implementation of our business plan which was included in the Company’s Admission document and subsequent announcements posted to the OAM System of the CSE.
I. Overview
The Company acquires financial instruments including loan rights, equity rights and direct investments in Real Estate market. Please refer to our Admission Document for more information.
II. The company has successfully engaged in the following projects:
1. Sword Dragon S.L. (Spanish Real estate). The project has been successfully finalized:
a) Valuation of properties of Spanish entities has been successfully completed by independent valuers during the first half of 2023;
b) Group consolidated and standalone financial statements for the year ended 2022 were audited and issued with unmodified audit opinion.
Furthermore, the unaudited group and standalone financial statements for the period ended 30 June 2023 were published to the CSE.
As stated in both group audited financial statements 2022 and group unaudited financial statements for the period ended 30 June 2023, the group was in a healthy Net Assets position.
Please refer to the CSE website for access to the published financial statements of Mettmann PLC: https://www.cse.com.cy/en-GB/non-regulated-market/listing/listed-companies/
c) The Company received dividends from Sword Dragon S.L. during quarter 1 of 2023 amounting to €208,604.
2. Purchase of debt of associates in Spain – All negotiations completed and required documents signed by the end of the year 2022. In 2023 the Company invested in different projects in Spain as disclosed below in par (III).
III. The projects announced in the Admission Document and in the subsequent announcements were launched during 2023 for the following group companies:
1. 4D Properties S.L. (real estate projects in Malaga, Spain);
2. Nash Beach Club S.L. (commercial property in Estepona, Spain);
3. La Meridiana de Rio Verde S.L. (financing of restaurant business in Malaga, Spain);
4. Prestige Expo, S.L. (real estate projects in Malaga, Spain);
5. Joya Verde, S.L. (real estate projects in Estepona, Spain);
6. Alsan Homes, S.L. (real estate projects in Cadiz, Spain);
7. Start Hub Beach, S.L. (commercial property in Estepona, Spain);
For the updated latest group structure please refer to: https://publicoam.cse.com.cy/card-details/206217/0tr
IV. The business plan for the following projects has not been realized as yet and is planned to be achieved in the foreseeable future:
1. Land in Budva.
2. Land in Perivolia.
3. Real estate projects in Larnaca and Limassol.
V. Subsequent announcements regarding the progress of the company and its business plan:
The Company will issue further announcements upon finalization of each project, with reference to the final investment amount and any other important information.
METTMANN PUBLIC COMPANY LIMITED is continuously striving to adhere to its business model as stated in the Admission Document. Management continues to explore new opportunities and strive for operational improvements to achieve the Company's goals. The Company is continuously considering sustainable and profitable future projects worldwide, that will drive long-term growth of the Group and maximize the shareholders’ wealth.
By the Board of Directors