Trastor: ‘Fair and reasonable’ the price of the Mandatory Public Offer of Piraeus Bank

The offered consideration of € 1.25 per share offered by Piraeus Bank for the acquisition of all the shares of Trastor is considered fair and reasonable, according to the reasoned opinion of the Board of Directors. of the second, in the context of the Mandatory Public Offer of the bank.

More specifically, as noted by the Board of Directors, “the Offeror is offered to pay in cash the Offered Exchange, ie € 1.25 for each legally and validly offered and transferred Share of the Public Offer, a price that meets the criteria of” fair and reasonable “consideration according to article 9, par. 4 and 6 of the Law.

The following is noted regarding the offered Exchange:

i. the average stock price weighted by the trading volume (hereinafter “MXTM”) during the last six (6) months preceding the date on which the obligation to submit a public offer was created, ie 28.02.2022, amounts to € 1.13 , with a total trading volume of just 757,188 Shares,

ii. neither the Bidder nor any of the Coordinated Persons with the Bidder acquired Shares during the twelve (12) months prior to the date on which the obligation to submit a public offer was created, ie 28.02.2022,

iii. the price for the acquisition of the total of 78,371,545 Shares, on 28.02.2022, by the Offeror amounted to € 1.25 per Share,

iv. given that the condition of article 9, par. 6, case (b) of the Law was met, as the transactions made on the Company’s Shares, during the six (6) months prior to the date on which the obligation to submit a public proposal, did not exceed 10% of the total Shares of the Company, specifically amounted to 0.5% of these total.

The Offeror appointed the company “QAS CERTIFIED AUDITORS ACCOUNTANTS LIMITED LIABILITY COMPANY” (hereinafter “QAS”) as an independent appraiser for the conduct of the appraisal and the preparation of the relevant appraisal and the appraisal of the appraisal. The resulting price is € 1.23.

Consequently, the offered Compensation meets the criteria of the “fair and reasonable” consideration according to article 9, par. 4 and 6 of the Law, as well as:

– Exceeds by 10.4% the MXTM during the six (6) months preceding the date on which the obligation to submit a public offer was created,

– Equal to the price at which the Offeror acquired a participation percentage of 52.0% in the Company – Exceeds by 4.2% the closing price of the Share on the ATHEX. on the previous date from the date on which the obligation to submit a public offer was created, and

– Exceeds by 1.6% the price per share resulting from the QAS valuation report “.

See in detail the reasoned opinion of the Board. right, in the Related Files column