Athena holds 93.674% of HB after PO – Intention for squeeze out
10/9/2009 10:49
Hellenic Bank Public Company Ltd announces that the procedure for the acceptance of the public offer for the acquisition of up to 100% of the share capital of “Athena Cyprus Public Company Ltd” has been finalized on September 8, 2009.
On May 21, 2009, the date of submission of the public offer, Hellenic Bank held 77.838% of the share capital of Athena (84,740,219 shares). During the period of acceptance, the Acceptance Forms that were submitted were for 17,240,256 shares of Athena, which represent 15,836% of the issued share capital of Athena. It is noted that the Acceptance Forms for 73,776 shares (0.068%) have been received by persons who act in agreement with Hellenic Bank.
As a result, the total shareholding that Hellenic Bank will hold in the share capital of Athena stands at 93.674% (101,980,475 shares). It is noted that the final percentage of acceptance might change in case that at the final examination of the Acceptance Forms it is ascertained that the data are erroneous or insufficient and, therefore, cannot be accepted.
The allocation letters of the new Hellenic Bank shares that have been offered as a consideration will be posted to the shareholders of Athena who have accepted the public offer, when all necessary actions have been finalized and the shares have been listed in the CSE.
According to the Public Offer terms, in case that Hellenic Bank acquires more than 90% of the share capital of Athena, Hellenic Bank intends to exercise a squeeze out so as to acquire 100% of the share capital of Athena, pursuant to article 36 of the Public Offering Law 2007. The squeeze out is exercisable within 3 months from the expiry of the acceptance period. Hellenic Bank intends to exercise this right the soonest possible.
It is noted that pursuant to article 37 of the Public Offering Law, the holders of the remaining titles of Athena have the right to demand by Hellenic Bank to acquire their own titles at a fair price. This right is exercisable within 3 months from the expiry of the acceptance period.
On May 21, 2009, the date of submission of the public offer, Hellenic Bank held 77.838% of the share capital of Athena (84,740,219 shares). During the period of acceptance, the Acceptance Forms that were submitted were for 17,240,256 shares of Athena, which represent 15,836% of the issued share capital of Athena. It is noted that the Acceptance Forms for 73,776 shares (0.068%) have been received by persons who act in agreement with Hellenic Bank.
As a result, the total shareholding that Hellenic Bank will hold in the share capital of Athena stands at 93.674% (101,980,475 shares). It is noted that the final percentage of acceptance might change in case that at the final examination of the Acceptance Forms it is ascertained that the data are erroneous or insufficient and, therefore, cannot be accepted.
The allocation letters of the new Hellenic Bank shares that have been offered as a consideration will be posted to the shareholders of Athena who have accepted the public offer, when all necessary actions have been finalized and the shares have been listed in the CSE.
According to the Public Offer terms, in case that Hellenic Bank acquires more than 90% of the share capital of Athena, Hellenic Bank intends to exercise a squeeze out so as to acquire 100% of the share capital of Athena, pursuant to article 36 of the Public Offering Law 2007. The squeeze out is exercisable within 3 months from the expiry of the acceptance period. Hellenic Bank intends to exercise this right the soonest possible.
It is noted that pursuant to article 37 of the Public Offering Law, the holders of the remaining titles of Athena have the right to demand by Hellenic Bank to acquire their own titles at a fair price. This right is exercisable within 3 months from the expiry of the acceptance period.
