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Basic
Information
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Registered Name
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REMEDICA HOLDINGS PUBLIC COMPANY
LIMITED
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English Name
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REMEDICA HOLDINGS PUBLIC COMPANY
LIMITED
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Registered Address
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Industrial area, Limassol, Cyprus
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Headquarters:
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Acharnon, Lemesos, 3056, PoBox 51706,
Limassol, Cyprus
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Telephone
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+35725392010 / +35725393444 /
+35725530000
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Fax
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+35725390192
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E-mail
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info@remedica.com.cy ,
remedica@cytanet.com.cy
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WebSite
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www.remedica.com.cy
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Legal Type
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Public Limited Company
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Registration No
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C3559
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Registration Date
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08/04/1971
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Last annual report
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10/10/2003
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Latest Annual Account Date
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01/12/2010
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Last return
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17/05/2011
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Tax Reg No:
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VAT: CY 10003559
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CINFO ID:
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CYC11565575
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Summary
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Employees
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July 2012
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Company
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Group
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Total Number
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0
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500
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Financial Summary
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December
2010
|
December
2009
|
December
2008
|
|
|
EUR
|
EUR
|
EUR
|
|
Revenue Sales
|
18977440.00
|
11855906.00
|
13740911.00
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Pre Tax Profit
|
4054425.00
|
4205958.00
|
4431771.00
|
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Working Capital
|
9548702.00
|
7068360.00
|
5889680.00
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Total Equity
|
22754327.00
|
20369285.00
|
19285996.00
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Long Term Debts
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|
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Trend
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-
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-
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-
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Additional Info:
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|
Legal Advisor: CHARALAMPOUS, KOUNTOURIS & CO, 10,
Georgiou Gennadiou, Agathangelos Court, Off. 303, Limassol, Tel.
25364783.
Correspondence: P&D SECRETARIAL SERVICES LTD, P.O.
Box: 50012, 3600, Limassol, Tel. 25871600.
Please Note That:
MICHAIL
MARIA Is Alternate Director of PATTICHIS CHRISTAKIS.
ARISTOTELOUS
ANTRI is Alternate Director of PATTICHIS CHARALAMPOS.
ELEFTHERIOU
LOUKAS is Alternate Director of SAVVIDIS AIMILIOS.
PANIKOS
G. SCHIZA Was Alternate Director Of MARGARITA PATTICHI (Appointed on
21/02/1976).
ANDREAS
PEGLITZIS Was Alternate Director Of CHRISTAKIS PATTICHI (Appointed on
21/02/1976 and 08/10/1979).
TAKIS
CHRISTODOULOU Was Alternate Director Of MARGARITA PATTICHI (Appointed
on 21/09/1973 and 08/10/1979).
PANIKOS
G. SXIZAS Was Alternate Director of CHRISTAKIS PATTICHI (Appointed on
21/09/1973).
Please Note That: SCHIZAS G. PANIKOS Was Deceased On
30/03/1989.
Please Note That: Financial Statements Submitted for the
Year 2002.
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Assessment:
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Low Risk
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Payment Habits:
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NO COMPLAINTS
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A check against all available information
sources revealed that no late payment incidents against Subject Company
exist.
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Good for amount and terms of inquiry:
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Yes
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Commercial morality
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Good
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Financial strength
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Good
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Maximum credit
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470,000.00 EUR
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Date
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Event Name
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Old Value
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New Value
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01/01/2008
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Authorised Capital Changed
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30000000.00 CYP
|
51000000.00 EUR
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01/01/2008
|
Issued Capital Changed
|
0.00 CYP
|
0.00 EUR
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01/01/2008
|
PaidUp Capital Changed
|
8568089.80 CYP
|
14565752.66 EUR
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01/01/2008
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Asked Capital Changed
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0.00 CYP
|
0.00 EUR
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01/01/2008
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Foreign Capital Changed
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0.00 CYP
|
0.00 EUR
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01/01/2008
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Nominal Values of Shares Changed
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0.20 CYP
|
0.34 EUR
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01/01/2008
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Partnership Capital Changed
|
0.00 CYP
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0.00 EUR
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01/01/2008
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Declared Capital Changed
|
0.00 CYP
|
0.00 EUR
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20/12/2000
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Change of name
|
PATTICHIS CHEMICAL COMPANY LIMITED
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REMEDICA HOLDINGS LIMITED
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05/12/2000
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Authorised Capital Increased
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300000.00 CYP
|
30000000.00 CYP
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05/12/2000
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Shares number changed
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0
|
42840449
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05/12/2000
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Paid Up Capital Increased
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0.00 CYP
|
8568089.80 CYP
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05/12/2000
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Nominal number of shares Changed
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300000
|
150000000
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05/12/2000
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Nominal Value of Shares Decreased
|
1.00 CYP
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0.20 CYP
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05/12/2000
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Change of type
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Limited Company
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Public Limited Company
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14/02/1989
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Authorised Capital Increased
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100000.00 CYP
|
300000.00 CYP
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14/02/1989
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Nominal number of shares Changed
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0
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300000
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14/02/1989
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Nominal Value of Shares Increased
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0.00 CYP
|
1.00 CYP
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30/04/1985
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Authorised Capital Increased
|
50000.00 CYP
|
100000.00 CYP
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08/04/1971
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Change of name
|
REMEDICA HOLDINGS LIMITED
|
REMEDICA HOLDINGS PUBLIC COMPANY
LIMITED
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Registered
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From:
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To:
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1A, Kosti
Palama, Limassol, , Cyprus,
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08/04/1971
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30/06/1972
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Authorized Capital
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51,000,000.00
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EUR
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Issued Capital
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0.00
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EUR
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Nominal No Of Shares
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150,000,000.00
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Issued No Of Shares
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42,840,449.00
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Nominal value
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0.34
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EUR
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Paid Up
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14,565,752.66
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EUR
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Directors
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Position
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ActsAs
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ID
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Occupation
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Age
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Appointed
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Other dir.
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MARRIOT CHRISTOPHER
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Director
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Professor
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06/12/2000
|
No
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150 Stamford Str., Department Of
Pharmacy, King's College London, Franklin-Wilkins Bldg, London, SE1 8WA,
United Kingdom
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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PATTICHIS CHRISTAKIS
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Director
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117645(ID)
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Chemist
|
85
|
08/04/1971
|
Yes
|
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10 Christou Christovasili, Limassol,
3091, Cyprus
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Other Directorship:
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Name
|
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Registration Date
|
RegNo
|
Status
|
Position
|
Update Date
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|
REMEDICA LIMITED
|
|
30/07/1980
|
C14435
|
Registered and operational
|
Director
|
30/11/2011
|
|
|
INTERPAK LIMITED
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|
09/04/1971
|
C3562
|
Registered and operational
|
Director
|
17/01/2011
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Other Shareholding:
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Name
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Registration Date
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RegNo
|
Status
|
%
|
Update Date
|
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INTERPAK LIMITED
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|
09/04/1971
|
C3562
|
Registered and operational
|
0.05
|
17/01/2011
|
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REMEDICA LIMITED
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|
30/07/1980
|
C14435
|
Registered and operational
|
0.00033
|
30/11/2011
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PATTICHI CHR. MARGARITA
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Director
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674491(ID)
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Housewife
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70
|
13/10/2003
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Yes
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10 Christou Christovasili, Limassol,
3091, Cyprus
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Other Directorship:
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Name
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Registration Date
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RegNo
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Status
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Position
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Update Date
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INTERPAK LIMITED
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09/04/1971
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C3562
|
Registered and operational
|
Director
|
17/01/2011
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REMEDICA LIMITED
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30/07/1980
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C14435
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Registered and operational
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Director
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14/01/2011
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Other Shareholding:
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No Information Found
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PATTICHIS CHARALAMPOS
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Director
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633304(ID)
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Chemist
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48
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23/10/1995
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Yes
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2 Giasemion, Germasogeia, 4043,
Limassol, Cyprus
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Other Directorship:
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Name
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Registration Date
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RegNo
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Status
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Position
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Update Date
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SYNDESMOS VIOMICHANON PROTIS
VIOMICHANIKIS PERIOCHIS LEMESOU
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23/11/1995
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C75453
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Registered and operational
|
Director
|
17/10/2011
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INTERPAK LIMITED
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09/04/1971
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C3562
|
Registered and operational
|
Director
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17/01/2011
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REMEDICA LIMITED
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30/07/1980
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C14435
|
Registered and operational
|
Director
|
14/01/2011
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Other Shareholding:
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No Information Found
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MICHAIL MARIA
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Alternate Director
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586329(ID)
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Biochemist
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53
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27/10/2006
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No
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10 Myronos, 3035, Limassol, Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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ARISTOTELOUS ANTRI
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Alternate Director
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464607(ID)
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Accountant
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60
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27/10/2006
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No
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3A Chrysosotirou, Kato Polemidia, 4152,
Limassol, Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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ELEFTHERIOU LOUKAS
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Alternate Director
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418096(ID)
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Chemical Engineer
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64
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27/10/2006
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No
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5 Agias Varvaras, 3065, Limassol,
Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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GAVRIIL GEORGIOS
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Director
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735358(ID)
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Accountant
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41
|
27/10/2006
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No
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12 Kalavardon Rodou, 7573, Anafotida,
Larnaka, Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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SAVVIDES AIMILIOS
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Director
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435479(ID)
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Employee
|
60
|
16/01/1982
|
Yes
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33 Souliou, Limassol, 3016, Cyprus
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Other Directorship:
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Name
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Registration Date
|
RegNo
|
Status
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Position
|
Update Date
|
|
|
M.E.V.A. LEMESOU LIMITED
|
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14/12/1994
|
C67378
|
Registered and operational
|
Director
|
01/08/2011
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Other Shareholding:
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No Information Found
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Secretary
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Position
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ActsAs
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ID
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Occupation
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Age
|
Appointed
|
Other dir.
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|
P & D
SECRETARIAL SERVICES LIMITED
|
|
Company Secretary
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C35673
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|
0
|
10/06/1990
|
No
|
|
|
10 Georgiou Gennadiou, Agathangelos
Court, 3rd Floor, Apt. 303, Limassol, 3041, Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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Shareholders
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ID / Reg. No.
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ActsAs
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Nationality
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Shares
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%
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Shares Breakdown
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Class
|
Type
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PATTICHIS CHARALAMPOS
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|
633304(ID)
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CYPRIOT
|
23802913
|
55.56177
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|
|
|
2 Giasemion, Germasogeia, 4043,
Limassol, Cyprus
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|
|
|
Other Directorship:
|
|
|
|
|
Name
|
|
Registration Date
|
RegNo
|
Status
|
Position
|
Update Date
|
|
|
SYNDESMOS VIOMICHANON PROTIS
VIOMICHANIKIS PERIOCHIS LEMESOU
|
|
23/11/1995
|
C75453
|
Registered and operational
|
Director
|
17/10/2011
|
|
|
INTERPAK LIMITED
|
|
09/04/1971
|
C3562
|
Registered and operational
|
Director
|
17/01/2011
|
|
|
REMEDICA LIMITED
|
|
30/07/1980
|
C14435
|
Registered and operational
|
Director
|
14/01/2011
|
|
|
|
|
|
|
|
|
|
Other Shareholding:
|
|
No Information Found
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PATTICHI CHR. MARGARITA
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674491(ID)
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CYPRIOT
|
17768490
|
41.47597
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10 Christou Christovasili, Limassol,
3091, Cyprus
|
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|
|
Other Directorship:
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|
|
Name
|
|
Registration Date
|
RegNo
|
Status
|
Position
|
Update Date
|
|
|
INTERPAK LIMITED
|
|
09/04/1971
|
C3562
|
Registered and operational
|
Director
|
17/01/2011
|
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|
REMEDICA LIMITED
|
|
30/07/1980
|
C14435
|
Registered and operational
|
Director
|
14/01/2011
|
|
|
|
|
|
|
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Other Shareholding:
|
|
No Information Found
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|
PATTICHIS CHRISTAKIS
|
|
117645(ID)
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|
CYPRIOT
|
1269038
|
2.96224
|
|
|
|
10 Christou Christovasili, Limassol,
3091, Cyprus
|
|
|
|
Other Directorship:
|
|
|
|
|
Name
|
|
Registration Date
|
RegNo
|
Status
|
Position
|
Update Date
|
|
|
REMEDICA LIMITED
|
|
30/07/1980
|
C14435
|
Registered and operational
|
Director
|
30/11/2011
|
|
|
INTERPAK LIMITED
|
|
09/04/1971
|
C3562
|
Registered and operational
|
Director
|
17/01/2011
|
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|
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|
|
Other Shareholding:
|
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|
|
|
Name
|
|
Registration Date
|
RegNo
|
Status
|
%
|
Update Date
|
|
|
INTERPAK LIMITED
|
|
09/04/1971
|
C3562
|
Registered and operational
|
0.05
|
17/01/2011
|
|
|
REMEDICA LIMITED
|
|
30/07/1980
|
C14435
|
Registered and operational
|
0.00033
|
30/11/2011
|
|
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SAVVIDES AIMILIOS
|
|
435479(ID)
|
|
CYPRIOT
|
2
|
0
|
|
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|
23 Souliou, Limassol, 3016, Cyprus
|
|
|
|
Other Directorship:
|
|
|
|
|
Name
|
|
Registration Date
|
RegNo
|
Status
|
Position
|
Update Date
|
|
|
M.E.V.A. LEMESOU LIMITED
|
|
14/12/1994
|
C67378
|
Registered and operational
|
Director
|
01/08/2011
|
|
|
|
|
|
|
|
|
|
Other Shareholding:
|
|
No Information Found
|
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|
|
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|
|
PATTICHI KATERINA
|
|
633306(ID)
|
|
CYPRIOT
|
2
|
0
|
|
|
|
11 Christou Christovasili, Green House,
Apt. 302, Limassol, 3091, Cyprus
|
|
|
|
Other Directorship:
|
|
No Information Found
|
|
|
|
|
|
|
|
|
|
|
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|
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Other Shareholding:
|
|
No Information Found
|
|
|
|
|
|
|
|
|
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|
|
ARISTOTELOUS ANTRI
|
|
464607(ID)
|
|
CYPRIOT
|
2
|
0
|
|
|
|
3A Chrysosotirou, Kato Polemidia,
Limassol, Cyprus
|
|
|
|
Other Directorship:
|
|
No Information Found
|
|
|
|
|
|
|
|
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Other Shareholding:
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No Information Found
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PATTICHI CHRISTIANA
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674535(ID)
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CYPRIOT
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2
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0
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11 Christou Christovasili, Green House,
Atp. 101, Limassol, 3091, Cyprus
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Other Directorship:
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No Information Found
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Other Shareholding:
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No Information Found
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Operation
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Activity Code
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Description
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NACE 1.1
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24.4
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Manufacture of pharmaceuticals,
medicinal chemicals and botanical products
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NACE 2.1
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2120
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Manufacture of pharmaceutical
preparations - This class includes: - manufacture of medicaments:
> antisera and other blood fractions > vaccines > diverse
medicaments, including homeopathic preparations - manufacture of
chemical contraceptive products for external use and hormonal
contraceptive medicaments - manufacture of medical diagnostic
preparations, including pregnancy tests - manufacture of radioactive
in-vivo diagnostic substances - manufacture of biotech
pharmaceuticals - This class also includes: - manufacture of medical
impregnated wadding, gauze, bandages, dressings etc. - preparation of
botanical products (grinding, grading, milling) for pharmaceutical
use - This class excludes: - manufacture of herb infusions (mint,
vervain, chamomile etc.), see 10.83 - manufacture of dental fillings
and dental cement, see 32.50 - manufacture of bone reconstruction
cements, see 32.50 - manufacture of surgical drapes, see 32.50 -
wholesale of pharmaceuticals, see 46.46 - retail sale of
pharmaceuticals, see 47.73 - research and development for
pharmaceuticals and biotech pharmaceuticals, see 72.1 - packaging of
pharmaceuticals, see 82.92
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Line of Business
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The company in question was
established in order to get involved with the development, production
(100%) and trade on a wholesale basis (100%) of pharmaceutical products
for human consumption such as tablets, powders, capsules, liquids,
aerosols, pessaries etc.
The company imports around 90% of raw materials and exports 90% of
their production in more than 90 countries worldwide through a
selective network of representatives. They also maintain 4 vehicles
for Distribution activities (the group maintains 20 vehicles).
The company's product range includes therapeutic categories such as
antibiotics, analgesics, cardiovascular drugs, CNS agents, drugs for
the GI tract, diuretics, antihistamines, antidiabetics,
antiparkinsonian agents,
hormones and synthetic substitutes, vitamins, cough medicines and
expectorants, and more. They produce a variety of pharmaceutical
dosage forms, including tablets, capsules, creams, ointments,
aerosols, pessaries,
suppositories, liquids, powders.
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Export to
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Percentage
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Australia, Denmark, Germany, United
Kingdom, New Zealand
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Comments
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and to Eastern Europe, Africa, Asia
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Export Terms
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Percentage
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Special agreements
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Import from
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Percentage
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China, India
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Comments
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and from Europe
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Import Terms
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Percentage
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Special agreements
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Market Terittory
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Local Presence:
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10%
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International Presence
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90%
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Premises
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Type
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headquarters
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Address:
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Acharnon, Lemesos, 3056, PoBox 51706,
Limassol, Cyprus
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Headquarters comprise of
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Offices, Factory, Warehouse
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Headquarters operate as:
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shared with affiliated company
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Banks
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BANK OF CYPRUS PUBLIC COMPANY LIMITED
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51 Stasinou, Agia Paraskevi,
Strovolos, 2002, Nicosia, Cyprus
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CYPRUS POPULAR BANK PUBLIC CO LTD
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39 Archiepiskopou Makariou C' Avenue,
2025, Nicosia, Cyprus
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PIRAEUS BANK (CYPRUS) LIMITED
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Cyprus
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Affiliates and Subsidiares
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Relation
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Year
Reg.
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REMEDICA LIMITED
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Subsidiary
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1980
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Acharnon, Lemesos, 3056, PoBox 51706,
Limassol, Cyprus
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M.E.V.A. LEMESOU LIMITED
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Affiliate
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1994
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Acharnon, Lemesos, 3056, PoBox 51294,
Limassol, Cyprus
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INTERPAK LIMITED
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Subsidiary
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1971
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Acharnon, Industrial Area, 3056,
Limassol, Cyprus
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Chr. Pattichis Investments Limited
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Affiliated Company
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M.E.V.A. LEMESOU LIMITED
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Affiliated Company
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No
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Date registered
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Date prepared
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Type
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Description/No
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Amount
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Sequence
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Beneficiary
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0
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N/A
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N/A
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N/A
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N/A
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N/A
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N/A
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No charges found
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No
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Date prepared
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Date End
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Type
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Description/No
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Amount
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Sequence
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Beneficiary
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1
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03/05/1983
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14/04/1983
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21/09/1994
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Fixed Charge on the Company's Machinery
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75,000.00 CYP
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-
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Bank of Cyprus Public Company
Limited
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2
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30/09/1980
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18/09/1980
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21/09/1994
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Mortgage
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Y2758/80
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15,000.00 CYP
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-
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Bank of Cyprus Public Company
Limited
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3
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12/12/1977
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02/12/1977
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08/03/1979
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Mortgage
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Y3120/77
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15,000.00 CYP
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-
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Bank of Cyprus Public Company
Limited
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4
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03/02/1977
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01/02/1977
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18/09/1980
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Mortgage
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Y181/77
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15,000.00 CYP
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-
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Bank of Cyprus Public Company
Limited
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5
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28/06/1972
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17/06/1972
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09/05/1979
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-
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First Fixed Charge On The Company's
Machinery And Equipment
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17,000.00 CYP
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-
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Cyprus Development Bank Limited
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6
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28/06/1972
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17/06/1972
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06/03/1979
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Mortgage
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Y2048/72
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17,000.00 CYP
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-
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Cyprus Development Bank Limited
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Negatives
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No negative data
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Financial
Statement
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Corporate financial statement
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Financial Figures are Individual
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FIXED ASSETS
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Property,
plant and equipment
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1152757
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1248057
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1343448
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Investment
in associates
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12052868
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12052868
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12052868
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Total fixed assets
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13205625
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13300925
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13396316
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CURRENT ASSETS
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Inventories
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33880
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146239
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Trade
and other receivables
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6813195
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8229357
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5989148
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Cash
and cash equivalents
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3889875
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4001278
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4011400
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Total current assets
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10736950
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12376874
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10000548
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Total assets
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23942575
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25677799
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23396864
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CAPITAL AND RESERVES
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Share
capital
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14565753
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14565753
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14565753
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Other
reserves
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73698
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73698
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73698
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Retained
earnings
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8114876
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5729834
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4646545
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Total equity
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22754327
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20369285
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19285996
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LONG-TERM LIABILITIES
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Total long-term liabilities
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0
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0
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0
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CURRENT LIABILITIES
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Trade
and other payables
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1154897
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5111563
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3566768
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Current
income tax liabilities
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9868
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196951
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544100
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Bank
overdraft
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23483
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Total Current Liabilities
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1188248
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5308514
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4110868
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Total liabilities
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1188248
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5308514
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4110868
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Total equity and liabilities
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23942575
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25677799
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23396864
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Sales
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18977440
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11855906
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13740911
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Cost of
goods sold
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16489734
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9621232
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11169403
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Gross profit
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2487706
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2234674
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2571508
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Other
Operating income
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2123265
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3330000
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2837640
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Selling
and distribution expenses
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711286
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934920
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748868
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Administrative
expenses
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364649
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390753
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349391
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OPERATING PROFIT/LOSS
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3535036
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4239001
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4310889
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Finance
Income
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519389
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Finance
costs
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33043
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120882
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Profit/Loss
before income tax
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4054425
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4205958
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4431771
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Income
tax expense
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169968
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123838
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151049
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Profit/Loss for the year
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3884457
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4082120
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4280722
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PROFITABILITY RATIOS
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Gross
Profit margin on sales
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0.13
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0.19
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0.19
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Return
on assets (ROA)
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0.20
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0.34
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0.31
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LIQUIDITY RATIOS
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Current
Ratio
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9.04
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2.33
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2.43
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TURNOVER RATIOS
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Sales
to Net Working Capital Ratio
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1.99
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1.68
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2.33
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Total
assets turnover (times)
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0.79
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0.46
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0.59
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Additional Information
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MAIN SOURCES
OF INFORMATION - FOR THIS REPORT
i.
Visited Official Companies’ Registry
ii.
Interview with Company / Correspondence
iii.
Desk Research
iv.
Search through Internet Subscription Databases (Business Information)
v.
Specialized Media Search Global & Local
vi.
Search through internet Social Networks
vii.
Negative Record Database
viii.
Relationship/Directorship Search through Database
The
company in question was established in order to get involved with the development,
production (100%) and trade on a wholesale basis (100%)
ofpharmaceutical products for human consumption such as tablets,
powders, capsules, liquids, aerosols, pessaries etc.
We
contacted the company in question and talked to Mr Michalis Cocconis,
financial controller, who confirmed the details of this report. He also
provided us with the draft accounts of 2010.
Please
note that according to Mr Cocconis, finacial statements ofyear 2010 -
2011 will be audited by the end of August 2012. Reportedly, the Sales
turnover for the year 2010 was approximately 18,9 million Euro.
A
check against our records revealed that no negative payment incidents
against Subject Company, such as unpaid invoices, dishonored cheques
and utility bills, bankruptcies exist etc.
COUNTRY
DEVELOPMENTS:
On 13
June 2012, Moody’s Investor Service once again downgraded Cyprus’s
government bond ratings by two notches to Ba3 from Ba1 and research is
now being carried out for further possible downgrade. The Cypriot
banks’ exposure to Greece totals 29 billion Euros, or 160% of GDP,
including both Greek government bonds and loans to Greek residents. As
a result, it is expected that an increase of support by the government
may have to be offered to the Cypriot banks due to their exposure to
the Greek government and economy and Moody’s will be reflecting these
in the Cypriot sovereign ratings.
On 25
June 2012 Financial Mirror published that, Cyprus has applied for the
European bailout fund due to its need of 1.8 billion Euros to recapitalize
its second largest lender, Cyprus Popular Bank. Stefanos Stefanou, a
government spokesman, said that negotiations are yet to be made to
determine the precise amount of money which will be lent to Cyprus. He
also noted that despite the aid request from the EU, the Cypriot
government will continue seeking for a loan from a country outside the
EU, such as China and Russia, needed to help cover its budget deficit
(2011 deficit: 6.3% of GDP, one of the highest in the Eurozone).
The
country has already borrowed 2.5bn euros from Russia, whose business
people are important customers of Cyprus's relatively large offshore
financial sector which offers low tax rates. If Russia accepts to
supply another loan with a low interest rate then Cyprus may be more
willing to borrow the money to cover their refinancing needs from
Russia instead of the EU.On 25 June 2012 Fitch announced a downgrade of
Cyprus’s rating by one notch from BBB- to BB+; a decision due to
Cyprus’s heavy exposure to the Greek economy. Cyprus is keen to protect
its low 10% corporate taxation rate which makes it an attractive base
for foreign companies.
The
government is reluctant to acquire loans from the EU due to fear of
further austerity measures placed, which may obstruct corporations from
situating themselves in Cyprus. (End of Country Developments)
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Contact Information
|
|
|
|
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|
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|
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Name:
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Mr Michalis Cocconis
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Quality:
|
company
|
Area:
|
financial
|
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Title:
|
controller
|
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Confirm general details
|
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News
|
|
|
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www.remedica.com.cy
|
27/06/2008
|
|
|
Remedica receives the Cyprus Export
Award for 2004 for its contribution to Cyprus industry.
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|
|
www.remedica.com.cy
|
08/06/2007
|
|
|
Remedica has successfully entered
many foreign markets, including countries of the European Union,
Central and Eastern Europe, the Far East, the Middle East, Africa,
and others.
|
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