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Answer to letter from Hellenic Capital Market Commission

The present announcement is made according to paragraph 1 of article 17 of the Regulation (EU) 596/2014, in relation to the obligation of the Issuer for the publicity of inside information as per article 7 of Regulation (EU) 596/2014 and article 27 par. 8 of law 4443/2016 and following a relevant request dated 28 June 2019 from the Hellenic Capital Market Commission.

Following the announcement of our Company dated 27 June 2019 in relation to the decisions of the General Meeting of the Shareholders of 26th of June 2019, we further clarify that in regards to Items 3 and 4 of the agenda (approval of the Overall Management by the Board of Directors for the financial years 2017 and 2018) the only reason that the main shareholder did not approve the Overall Management of the Board of Directors, as per article 108 par. 1 of law 4548/2018, is that in accordance with existent internal post acquisition policies, a period of 2 years has to be respected before any such approval to be passed and not because the shareholder is in possession of any additional information that leads to that decision. This period of 2 years is considered sufficient for any liabilities to surface as per the reps and warranties of the seller. It is noted that the relevant action and the herein announcement are taking place for the protection of the investors.