Damages – Rolandos

November 20, 2015

The Companies ALKIS H. HADJIKYRIACOS (FROU-FROU BISCUITS) PUBLIC LTD and FROU-FROU INVESTMENTS LTD together with Michael (Alkis) H. Hajikyriakos, in their capacity as minority shareholders of the public company ROLANDOS ENTERPRISES PUBLIC LTD, have filed today, 20/11/2015, with the District Court of Nicosia, a derivative action against ROLANDOS ENTERPRISES PUBIC LTD, Rolandos Loizou, Yiola Loizou, Andreas Loizou, Zoe Loizou and Soteris Loizou, seeking, inter alia, damages totalling of 8,207,750.00 euro plus costs, representing the amount by which ROLANDOS ENTERPRISES PUBLIC LTD was burdened and/or damaged as a result of and/or due to, inter alia, negligence and/or deceit and/or false pretenses and/or fraud and/or conspiracy by the Defendants, members of the Board of Directors, against the company ROLANDOS ENTERPRISES PUBLIC LTD and/or conspiracy by the Defendants to cause financial damage to ROLANDOS ENTERPRISES PUBLIC LTD and/or as a result of the violation of their duties by virtue of the law and/or regulations and/or their position, towards and/or in connection with and/or against ROLANDOS ENTERPRISES PUBLIC LTD. ALKIS H. HADJIKYRIACOS (FROU-FROU BISCUITS) PUBLIC LTD Andreas Theocharides CFO