Subject: Completion of squeeze out and payment of exchange to the shareholders of “Athena Cyprus Public Company Ltd”
Further to the announcement dated October 2, 2009 on the activation of the squeeze out procedure for the acquisition of the remaining shares of Athena Cyprus Public Company Ltd, Hellenic Bank Public Company Ltd announces the completion of the squeeze out and the payment of the exchange to the shareholders.
It is reminded that with the acquisition of 93.55% of the share capital of Athena via the Public Offer of Hellenic Bank to the shareholders of Athena, Hellenic Bank submitted an application to the Securities and Exchange Commission – which was approved on October 20, 2009 – for the acquisition of the total shares of Athena with the transfer of the remaining shares via the squeeze out.
The consideration offered for the acquisition of the total shares of Athena via the squeeze out procedure was the same as that offered during the Public Offer that expired on September 8, 2009, that is:
For every 3 shares of Athena, 1 share of Hellenic Bank
Pursuant to the provisions of article 36(3) of the Public Offering Law 2007, it was offered as an alternative the payment of the sum in cash, set at €0.37 per share of Athena.
Pursuant to the law, Hellenic Bank (Investments) Ltd, as Underwriter, paid the total exchange to the shareholders of Athena who exercised their option and selected cash as at November 26, 2009. The exchange was paid via the dispatch of a cheque to the beneficiaries’ address and in certain cases with the transfer of the exchange to the Underwriters, as the beneficiaries instructed.
Also, on the same date, on November 26, 2009, new shares of Hellenic Bank have been issued, which have been offered as a consideration to the shareholders who have not exercised their option. The allocation letters will be posted to the shareholders in the next few days.
The new shares of Hellenic Bank that were issued as an exchange to the shareholders of Athena will be listed in the CSE as soon as the necessary procedures are completed.
This announcement is released pursuant to article 36(6) of the Public Offering Law 2007 and the provisions of the CSE Regulatory Decision KDP96/2008.
Further to the announcement dated October 2, 2009 on the activation of the squeeze out procedure for the acquisition of the remaining shares of Athena Cyprus Public Company Ltd, Hellenic Bank Public Company Ltd announces the completion of the squeeze out and the payment of the exchange to the shareholders.
It is reminded that with the acquisition of 93.55% of the share capital of Athena via the Public Offer of Hellenic Bank to the shareholders of Athena, Hellenic Bank submitted an application to the Securities and Exchange Commission – which was approved on October 20, 2009 – for the acquisition of the total shares of Athena with the transfer of the remaining shares via the squeeze out.
The consideration offered for the acquisition of the total shares of Athena via the squeeze out procedure was the same as that offered during the Public Offer that expired on September 8, 2009, that is:
For every 3 shares of Athena, 1 share of Hellenic Bank
Pursuant to the provisions of article 36(3) of the Public Offering Law 2007, it was offered as an alternative the payment of the sum in cash, set at €0.37 per share of Athena.
Pursuant to the law, Hellenic Bank (Investments) Ltd, as Underwriter, paid the total exchange to the shareholders of Athena who exercised their option and selected cash as at November 26, 2009. The exchange was paid via the dispatch of a cheque to the beneficiaries’ address and in certain cases with the transfer of the exchange to the Underwriters, as the beneficiaries instructed.
Also, on the same date, on November 26, 2009, new shares of Hellenic Bank have been issued, which have been offered as a consideration to the shareholders who have not exercised their option. The allocation letters will be posted to the shareholders in the next few days.
The new shares of Hellenic Bank that were issued as an exchange to the shareholders of Athena will be listed in the CSE as soon as the necessary procedures are completed.
This announcement is released pursuant to article 36(6) of the Public Offering Law 2007 and the provisions of the CSE Regulatory Decision KDP96/2008.
Friday, 27 November, 2009 - 09:15