Share Capital Increase
The Company announces that on Monday, March 31st, 2014, its Board of Directors decided to convene an Extraordinary General Meeting of its Shareholders which will take place on 29 April 2014 having as sole item of the agenda the raising of funds up to the amount of one hundred fifty million euro (150,000,000.00) through share capital increase by payment in cash and by the issuance of new, common, registered, voting shares (the New Shares) and with preemptive rights to the existing shareholders, in accordance with the relevant provisions of C.L. 2190/1920 and the Articles of Association of the Company. The New Shares shall be offered in Greece through a public offering and outside Greece through a private placement with the participation of international investors. The abovementioned Extraordinary General Meeting of Shareholders shall authorize the Companys Board of Directors to determine the subscription price of the New Shares to be issued, in accordance with applicable legislation and the Companys Articles of Association.
By virtue of the above funds raising, the Company will succeed to significantly reinforce its equity and liquidity for the purposes of completing its existing investment plans, including the development of the remaining part of the IBC building (former International Broadcasting Centre), the participation in new private sector projects or in privatization procedures, as well as the optimization of the structure of the Companys working capital. Finally, as per the above paragraph 1 of the present announcement, part of the abovementioned additional funds shall be allocated to specific development projects at Elliniko.
