Release details

2018-04-19 15:47 CEST
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Market Update

                                                                                  19th April 2018                                              

ETAIREIA INVESTMENTS PLC
(Etaireia" or the "Company")
    
Market Update

On the 19th March the Directors announced that the resignation from the Board of Mr Baron Bloom, due to negative findings found during his recent divorce.

The Directors have today commenced an independent investigation into a number of transactions which were undertaken by Mr Bloom during his tenure as a Director.

This investigation will principally be in connection with purchases of property by the Company which represent 16% of the Company's assets of £2.8m and the movement of certain funds relating to these properties. 

The Company believes that it would be in the interest of shareholders and the market, due to the nature of the findings during the Divorce proceedings to revisit these transactions in order for shareholders and the market to have confidence in the activities of the Company at that time.

The Directors will update investors on the finding of the report when it is completed and anticipates this will be a number of weeks.

The Board is continuing its search for a replacement for Mr Baron Bloom and will update the market shortly in this regard.

The Directors of the Company accept responsibility for this announcement.

ENDS
    
Enquiries:
Etaireia Investments Plc 
Tel:  07830 182501
Greg Collier
  
NEX CORPORATE ADVISER:   
Alexander David Securities Limited 
David Scott - Corporate Finance 
James Dewhurst - Institutional Sales 
Telephone: +44 (0) 20 7448 9820 
http://www.ad-securities.com  49 Queen Victoria Street, London EC4N 4SA    

HUG#2185634