12 November 2019

ANNOUNCEMENT

Alkis H. Hadjikyriacos (Frou Frou Biscuits) Public Ltd announces that its Board of Directors will meet on 27/11/2019, at 10.30 a.m., to study the decision of the Limassol District Court in an action filed by the Company in 2011 against MUSKITA INVESTMENTS LTD, MGD HOLDINGS LTD, Demos Mouskis, Annita Mouski, Sheila D. Mouskis, Glafkos Mouskis, Christos Mouskis, Demetrakis Papacharalambous, Christos Mavrellis, Chris Georgiades (Mavrellis and Georgiades were exempted during the trial) and Takis Clerides, major shareholders and members of the Board of Directors of MUSKITA ALUMINIMUM INDUSTRIES PLC for the public bid submitted to the minority shareholders. The Court’s decision, though in favour of the Plaintiffs, did not adjudicate the amount of the sought compensation. Therefore, at the said meeting, decisions will be made on further legal measures and other actions to be taken by the Company against the defendants in connection with the compensation for the squeeze out of their shares which took place in August 2011.

FOR

ALKIS H. HADJIKYRIACOS
(FROU FROU BISCUITS) PUBLIC LTD

Andreas Theocharides
CFO