With 99.96% the Extraordinary General Meeting of Shareholders of EYDAP ratified the agreement with the State

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With a percentage of positive votes of 99.96% on the current shareholders, the Extraordinary General Meeting of Shareholders of EYDAP, held on Friday, December 24, 2021, ratified the Agreement with the Greek State.

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In Contract, which follows the recent law 4812/2021, determines the conditions for the renewal of the exclusive right to provide water supply and sewerage services of EYDAP until 2040, as well as the conditions for signing a contract for operation and maintenance services of the External Water Supply System (EYS), for three years.

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With the ratification of the agreement between EYDAP and the Greek State, the sale price of untreated water from the Greek State to EYDAP is determined, for the next 20 years, at a price 40% lower than the previous one in force for the period 2004-2013.

Setting a fair and reasonable price for unrefined water for the next twenty years is a key factor in the company’s business plan and helps keep tariffs on consumers.

Also, at the Extraordinary General Meeting it was decided to set off debts from the Greek State to EYDAP, and vice versa.

With this agreement, EYDAP can recover the amount payable of € 157.2 million for the period 2013-2020 within the period of validity of the Contract, according to article 114 of Law 4812/2021, which contributes to further positive development of the company.

With the ratification of the two Agreements by 99.96% of the shareholders who participated in the Extraordinary General Meeting, a long-standing pending issue is finally closed, a fact that now allows EYDAP to accelerate its investment program, to improve its services, to expanding its activities and its customer base and charting a positive future course.

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Source From: Capital

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