Earlier this year, Barrick reached a deal which would let
Acacia start exporting again, but only if it was no longer an independent company.
Raj Shanmugaraj, president and CEO at
Acacia, added: 'Coherent technology has been a game-changer for optical networking and continues to evolve with the deployment of pluggable coherent optics.
Save as required under the Market Abuse Regulation or otherwise under applicable law,
Acacia explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements in this report, whether as a result of new information, future events or otherwise.
That low-ball bid raised eyebrows and legitimate concern amongst some
Acacia shareholders that Barrick would try to leverage
Acacia's political difficulties in order to obtain the assets at a steep discount to their intrinsic value.
Forestry department chief Charalambos Alexandrou told the Cyprus Mail that the audit service's report in fact justifies the actions of his department, as "it stressed that mining residues have to be removed in a way that won't affect the sea turtles -- well that's what we were working towards when we removed the
acacia trees and placed an opaque fence two days later."
Acacia shares were 0.2% higher on Monday morning at 223p.
Under the terms of the agreement, Cisco has agreed to acquire
Acacia for USD 70.00 per share in cash, or for approximately USD 2.6bn on a fully diluted basis, net of cash and marketable securities.
"The Sumner Hotel's relationship with
Acacia enabled it to out-perform any competing hotels, as the property now benefits from almost no vacancies and very competitive rents," said Williams.
Acacia has completed an initial USD 1 million equity investment in Bitzumi.