The results of the mandatory Public Offer submitted by Piraeus Bank for the acquisition of all the shares of Trastor that it did not hold and corresponded to approximately 3.25 of its share capital, in exchange for 1.25 euros per share of cash, the listed company announced.
The Acceptance Period started on 23.05.2022 and ended on 20.06.2022. During the Acceptance Period, 197 Shareholders legally and validly accepted the Tender Offer (hereinafter referred to as the “Accepted Shareholders”), offering a total of 2,427,450 Shares, representing approximately 1.61% of the total paid-up share capital and voting rights. of the Company (hereinafter the “Offered Shares”). Therefore, upon completion of the over-the-counter transfer of the Offered Shares, the Offeror and the Persons Acting in Coordination with the Offeror will directly and indirectly hold a total of 148,250,467 Shares and 148,255,067 voting rights including 4,600 shares. , which correspond to approximately 98.36% of the total paid-up share capital and voting rights of the Company.
The payment of the offered Exchange to the Accepted Shareholders will start around 24.06.2022. The Offeror will pay the offered Exchange in the account of EL.K.AT. in TARGET 2, as well as all the relevant charges / rights of EL.K.AT. and the corresponding taxes, as defined in no. 18 / 22.02.2021 of the Board of Directors of EL.K.AT. After the payment of all the mentioned amounts, EL.K.AT. will pay the amounts due from the Offered Exchange to each Participant for the benefit of the Accepting Shareholders by crediting these amounts to the accounts of the respective Participants / Intermediaries in TARGET 2 and then the EL.K.A.T. from the Securities Accounts of the Accepting Shareholders to the Securities Account of the Offeror.
Furthermore, it is pointed out that from the Offer offered to be paid to the Accepted Shareholders will be deducted:
a. the provisions of article 7 of the codified decision no. 1 (meeting 223 / 28.1.2014) of the Board of Directors of EL.K.AT. rights in favor of EL.K.AT. for the registration of which is calculated as the product of the number of transferred shares on the higher of the following prices: (i) the offered Exchange, and (ii) the closing price of the Share on the ATHEX. the previous working day of the submission of the required documents to EL.K.AT.), with a minimum charge equal to the minimum between 20 euros and 20% on the value of the transfer for each Accepted Shareholder per Securities Account and
b. the tax provided in article 9 of Law 2579/1998, which currently amounts to 0.20% and is calculated on the transaction value.
It is noted that, after the completion of the Public Offer, and given that the Offeror already owns a total of Shares representing at least 90% of the total paid-up share capital and voting rights of the Company, the Offeror:
– Will not exercise the Right of Acquisition, according to article 27 of the Law and the decision 1/644 / 22.4.2013 of the Board of Directors of the EC.
– Obliged according to article 28 of the Law, to acquire in stock all the Shares that will be offered to him within a period of three (3) months from the publication of the results of the Public Offer at a price per Share equal to the Offered Exchange (Right to Exit).
– It will not proceed with any action regarding the delisting of the Shares from the ATHEX, given the obligation of the Company as AEEAP according to article 23 of Law 2778/2009.
Piraeus SA acted as the Bidder of the Bid.
Source: Capital
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