ELVALHALCOR: How the raised funds will be used

On Wednesday, November 17, 2021, the trading of 250,000 bonds in the category of Fixed Income securities of the regulated Market of the Athens Stock Exchange begins, as “ELVALHALCOR” announced today.

The Board of Directors of the Company announced that the proceeds of the Public Offering from the issuance of the Joint Bond Loan (the “Issue”) amount to € 250 million and that the Issuance costs are estimated at approximately € 6.0 million and will be deducted from the total funds raised of the Issue. The funds raised, less the estimated costs of issuing the Code, will amount to a net amount of approximately € 244 million.

The net raised funds of the Issue will be used as follows and with the following priority:

(1) an amount of € 30 million will be allocated until 30.6.2022 for new investments in real estate related to the expansion of the Company’s activities. In particular, the Company will use this amount for the payment of a price (including the relevant expenses and taxes) for the purchase of a plot of land and storage space in Inofyta. At the Date of the Prospectus, the Company is in negotiations for the purchase of the said properties having already signed a non-binding memorandum of understanding and the Management estimates that the achievement of this investment will be completed by 30.6.2022, as its basic terms transaction have been agreed and technical and legal control is underway. The properties will be used, in the long run, for storage and distribution of Group products. If the above transaction is not completed, the Company will seek real estate, adjacent to the industrial properties of the Company or its subsidiaries in the area of ​​Inofyta that serve the business needs of the Group and in case it is not possible to find the above properties until 31.10.2022 or the amount allocated is less than € 30 million, the Company will allocate until 31.12.2022 any unallocated amount to meet working capital needs.

(2) an amount of € 60 million will be used to cover working capital needs which will not be used to pay any amount to its shareholders in the form of dividend or interim dividend or return on equity or any other distribution to shareholders (in cash). or in kind) and

(3) the remaining amount, ie up to € 154 million, will be disbursed, within 45 days from the Issue Date, to reduce short-term borrowing. In particular, the Company will provide:

i) amount up to € 43 million to “EUROBANK Bank SA.” for the repayment of no. 036/13 / 28.8.1991, 1712/1 / 14.12.2010, 37/12 / 28.8.1991, 570-23.1.1997 framework contracts, open (mutual) accounts, (for more information see section 3.12.1 “Loans Contracts “, paragraph” EUROBANK (framework contracts, open (mutual) accounts no. 036/13 / 28.8.1991, 1712/1 / 14.12.2010, 37/12 / 28.8.1991, 570-23.1.1997, each as currently in force) “of the Prospectus),

ii) amount up to € 56 million to “ALPHA Bank SA” for the repayment of no. 13183 / 7.2.1997 and 25573101 / 28.7.2011 framework contracts, open (mutual) accounts (for more information see section 3.12.1 “Loan Agreements”, paragraph “ALPHA BANK (framework contracts, open (mutual) accounts no. 13183 / 7.2.1997 and 25573101 / 28.7.2011, each as it stands today) “of the Prospectus) and

iii) amount up to € 55 million to “National Bank of Greece SA.” for the repayment of no. 0400107000/1003 / 11.3.1988, 9747084420 / 1.6.2011 and 0400071250 / 8.11.1977 framework contracts, open (mutual) accounts, (see section 3.12.1 “Loan Agreements”, paragraph “EIE credit agreement (mutual account)” of the Prospectus).

The costs of issuing the Bond Loan will be deducted from the total funds raised.

See the full announcement in the right column “Related Files”