C.O. Cyprus Opportunity Energy Public Company Ltd announced this week that it undertook no operational activities during 2025, as it provided an update to the market on developments relating to its business plan.

The company, which trades on the New Market of the Cyprus Stock Exchange (CSE), said the update was issued as part of its ongoing disclosure obligations.

In relation to developments concerning its business plan, the company said it did not carry out any operational activities during the course of 2025.

The company recalled that it held an Extraordinary General Meeting of shareholders in the fourth quarter of 2024, at which resolutions were approved for the restructuring of its share capital.

Those resolutions provided for a reduction of the company’s share capital through the write-off of accumulated losses from previous years.

The same resolutions also approved a reverse split of the company’s ordinary shares, resulting in a nominal value of €0.07 per share.

The company said it has recently obtained approval from the District Court for the share capital reduction.

Its legal advisers are currently taking the necessary steps to have the court-approved reduction reflected in the company’s file with the Registrar of Companies, according to the announcement.

Upon completion of this process, the reverse split of the company’s shares will be implemented, the company said.

At the same Extraordinary General Meeting, shareholders also approved a resolution for the issue of 5 million additional ordinary shares for the purpose of acquiring 100 per cent of the issued share capital of Wellbeingway Ltd, a private company incorporated in Cyprus.

The company said the new issue of shares will take place after the completion of the share capital reduction and the reverse split that are currently in progress.