The new increase in the percentage he holds in InterTech appears to be initiated by the businessman and responsible for CD Media, Spyros Giamas, who has already acquired a stake of more than 30% of the total share capital listed enterprise.
A company, let us not forget, was closely linked to the deceased Dimitris Kontominas -after his death, the majority stake initially fell into the hands of Eurobank, before finally 2022 be transferred to Spyros Yamas.
To the Stock Exchange through… the back door
Based on the financial statements for the first half of the year, the businessman, born in Zambia and since the 90s it has been operating in the gaming sector, having developed partnerships with the main entertainment providers (EA Sports, Warner Bros. Games, etc.), controls the 30.03% of InterTech’s share capital.
By the end of 2023, this percentage reached 29.36%. This increase, according to market factors, cannot be discarded as a first indication of its intentions Spyrou Yamas.
Remember that if your percentage exceeds 33%, you are obliged to present public proposal to the rest of InterTech’s shareholders, including Konstantinos Amoiridis of the eponymous Group of Northern Greece (controls 28.45%).
Such a development could, under certain conditions, pave the way for… gross colpus, that is, the InterTech – CD Media merger and the latter’s entry to Stock exchange. Of course, there are still several steps needed to get there.
However, Spyros Giamas, who a few years ago moved CD Media’s headquarters to Bucharest, Romaniais well aware that a more direct partnership between CD Media and InterTech could generate significant goodwill.
The image of InterTech
It should be noted that in the first half of 2024 the listed company, which is valued at 10.2 million euros and its main activity is the sale of electronic devices (mainly products Panasonic), had a turnover of 9.2 million euros, a gross profit of 2.1 million euros and an EBITDA profit of 342 thousand euros. Equity amounted to 9.6 million euros, with set of obligations not exceed 8.6 million euros.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)