The Hellenic Capital Market Commission approved the squeeze out for Karamolegos

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In the approval of the application of “EM. CAR. SOLE SHAREHOLDER SA.” The Board of Directors of the Hellenic Capital Market Commission proceeded to repurchase the remaining shares of “Karamolegos” for 3.22 euros per share.

More specifically, the Board of the Commission:

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(a) Approved the request of 14/4/2022 of “EM. KAR. SOLE SHAREHOLDER SA.” (the “Proposer”) regarding the exercise, according to no. 27 Law 3461/2006 (the “Law”) and Decision no. 1/644 / 22.4.2013 of the Board of Directors of the Hellenic Capital Market Commission (the “Decision”), of the right of redemption of the remaining common, registered, voting shares of the Company which are not held by the Offeror and the other persons acting in coordination with him with no. 2 (e) of the Law (the “Right of Redemption”) and

(b) Set as the day of cessation of trading of the Company’s shares on 14.06.2022, in accordance with article 2 par. 1 of the Decision.

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At the time of submitting the request to exercise the Redemption Right, the Redemption Right concerned 230,616 shares (the “Shares”) representing approximately 2.4% of the paid-up share capital and voting rights of the Company. Furthermore, in the period from 14.04.2022 until the end of the meeting of the Athens Stock Exchange on 27.05.2022, the Offeror acquired 2,010 Shares.

The exercise of the Redemption Right will be made against the payment of a consideration of 3.22 Euros per Share in cash from the Proposed to the holders of the Shares (the “Offered Exchange”). It is pointed out that, in accordance with the Public Offer, the foreseen transaction tax (amounting to 0.20% on the value of the over-the-counter transfer) will be deducted from the amount paid, as well as it is noted that the Offeror will not bear the burden of the rights in favor of EL.K.AT. borne by the sellers / holders of the shares to be redeemed.

The payment of the Offered Exchange will be made within three (3) working days after the completion of the settlement of the transactions that will be prepared on the last trading day of the Company’s shares.

It is pointed out that, according to the Decision, in case (a) that a Shareholder does not duly authorize the operator of his / her securities account at DSS. to collect the consideration on his / her behalf, or (b) Shares that are not free of encumbrances, third party rights or foreclosures, or (c) Shares that are in the operator’s account at the DSS. under special liquidation, the Offeror will deposit the Offered Exchange in the Deposits and Loans Fund in favor of the person concerned.

Source: Capital

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