Kition Ocean Holdings speaks of government incompetence in the management and operation of the Larnaca port and marina, while presenting its own version of events.

The company, which was responsible for the project before the termination of the agreement, claims it never locked the equipment nor refused to hand it over, responding to statements made by the Minister of Transport. At the same time, it emphasizes that the actions and statements of the Government are causing significant damage to the reputation of Kition Ocean Holdings, and the company reserves all its legal rights in this regard.

- On May 27, 2024, the Government sent the so-called termination notice of the Concession Agreement (the legality of the termination notice is disputed) concerning the Larnaca Marina and Port and ordered Kition Ocean Holdings to immediately vacate the facilities at both the Marina and the Port of Larnaca so that the Government could acquire all rights to the Project. The Government itself chose not to have a delivery period that would allow the smooth transfer of operations and any assets. Instead, it appeared with the Police, but without a real plan or direction on how to proceed and how to avoid negative impacts on the Larnaca Port and Marina, despite the Concession Agreement providing that the Government could specify a notice period before any termination came into effect, so that during this transitional period, Kition Ocean Holdings could assist in the smooth transfer of assets back to the Government.

- The complete incompetence of the Government in managing the situation that has developed is the cause of every problem in the operation of the Port and Marina, affecting even the transfer of employees, operations, and assets.

- Kition Ocean Holdings has shown exceptional restraint in dealing daily with the mentioned incompetence of the Government, but it has tried and continues to try until today, to complete the transfer as soon as possible. However, the Government, having publicly criticized the problems that arose in the operation of the Port by various affected parties (professional truck drivers, employees, unions, etc.), has shown unprecedented bad faith, trying to shift its responsibilities to Kition Ocean Holdings. The Government has repeatedly misled the Media and, consequently, the public that the delays, shortages, and problems in the operation of the Port and Marina since it took over are due to the alleged unwillingness of Kition Ocean Holdings to cooperate with the Government for the transfer of assets. Nothing could be further from the truth and the actual facts.

- After the termination of the Concession Agreement, two meetings were held regarding the handover. The Government was asked to appoint an IT specialist to work with the IT specialist of Kition Ocean Holdings for the handover and transfer of codes to various software. However, the Government did not understand, despite the detailed explanations given by Kition Ocean Holdings, that for the transfer of the Marina Master software and other software, the involvement of a specially trained IT person was necessary and that they needed to have available intermediaries for this purpose. Finally, Kition Ocean Holdings designed a step-by-step process to facilitate the situation.

- Additionally, Kition Ocean Holdings repeatedly asked the Government to state to whom the ownership of the various machines should be transferred and to specify which machines were the most urgent for immediate transfer and handover. The Government also failed to understand at this point the procedure that needed to be followed and that the transfer and handover had to be declared to the Department of Road Transport. Only after the second meeting on 17/07/2024 did the Government take steps to plan the transfer and handover of the machines.

- Concerning the weight bridges, a letter from Kition Ocean Holdings sent on 20/06/2024 was ignored, where the Government was asked if the Cyprus Ports Authority had a calibration certificate - as the existing certificate was registered in the name of Kition Ocean Holdings. Eventually, on 17/07/2024, the Government agreed not to use Kition’s certificate for the use of the bridges, and the transfer of the weight bridges was immediately carried out.

- Reports that Kition Ocean Holdings allegedly locked the machines and did not hand them over to the Government are false and misleading. As explicitly stated in the meeting on 17/07/2024, all machine keys are in the possession of the employees, and therefore the Government has access to all machines. In any case, the machines were always available to the Government from 27/05/2024.

- Actions and statements by the Government are causing significant damage to the reputation of Kition Ocean Holdings, and Kition Ocean Holdings reserves all its legal rights in this regard.

- It was the Government's decision to illegally terminate the Concession Agreement with immediate effect and to request Kition Ocean Holdings to immediately vacate the Project facilities without previously considering how, among other things, the many and various types of assets would be transferred, which now causes delays and complications.

- Kition Ocean Holdings is making every effort to ensure the smooth and efficient transfer of assets, in compliance with the conditions set by law or common practice, but it needs timely and appropriate cooperation from the Government to achieve this.