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Update regarding the special permission of the Board of MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. to its subsidiary MANETIAL LIMITED to proceed with a transaction with a related party pursuant to the articles 99-101 of the Law 4548/2018
Following its announcement dated 11 June 2024, which was also uploaded on the General Electronic Commercial Registry (GEMI) with protocol number 3306652/18.06.2024, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (the Company) hereby informs the investment public that the 10-day deadline for the submission of a request for a General Meeting to decide on the special permission in order its subsidiary under the legal name MANETIAL LIMITED to enter into a Share Purchase Agreement (SPA) for the acquisition of 185,793 registered shares issued by HELECTOR S.A., corresponding to 94.44% of the share capital of the latter, owned by the listed on the Athens Exchange company ELLAKTOR S.A. (Seller and SPA counterparty) for a total consideration amount of EUR 114,731,111.11, as this will be adjusted in accordance with the usual terms and conditions in transactions of this nature as included in the draft SPA, lapsed on June 28th, 2024.
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. and ELLAKTOR S.A. are related parties, as the former participates with a 29.87% stake in the share capital of the latter, pursuant to the articles 99-101 of the Law 4548/2018.
Pursuant to the Law 4548/2018 the special permission of the Company Board of Directors for the completion of the above transaction and the transfer of the 185,793 shares issued by HELECTOR S.A., is valid for six (6) months.
The present announcement is issued in accordance with paragraph 2 of the Article 101 of the Law 4548/2018.
Maroussi, 1 July 2024
The Board of Directors
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- HCMC - Hellenic Capital Market Commission
- HBA - Hellenic Bank Association
- ΣΕΠΕΥ - Σύνδεσμος Εταιρειών Παροχής Επενδυτικών Υπηρεσιών
- SMEXA - Association of Members of the Athens Exchange
- BoG - Bank of Greece
- ESMA - European Securities Markets Authority
- ECSDA - European Central Securities Depositories Association
- HFAMA - Hellenic Fund and asset Management Association
- FESE - Federation of European Stock Exchanges
- WFE - World Federation of Exchanges
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