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ANNOUNCEMENT OF THE RESULTS OF THE TAKEOVER BID TO THE SHAREHOLDERS OF HELLENIC BANK PUBLIC COMPANY LIMITED
Wednesday, 31st July 2024
ANNOUNCEMENT OF THE RESULTS OF THE TAKEOVER BID TO THE SHAREHOLDERS OF HELLENIC BANK PUBLIC COMPANY LIMITED
Eurobank S.A. (the “Offeror”), a subsidiary of Eurobank Ergasias Services and Holdings S.A., informs the investment community, pursuant to Article 38 of the Takeover Bids Law of 2007 to 2022 (the “Law”), that the procedure for the acceptance of the mandatory Takeover Bid (the “Takeover Bid”) for the acquisition of up to 100% of the issued share capital of Hellenic Bank Public Company Limited (“Hellenic Bank”, or “Target Company”) submitted on 4 June 2024 was completed on 30 July 2024.
On 4 June 2024, the date of the announcement of the Offeror's submission of the mandatory Takeover Bid, the Offeror directly held 228,253,661 shares of Hellenic Bank, representing 55.29% of the total issued share capital of Hellenic Bank. No shares were held by any persons considered by the Law as acting in concert with the Offeror, and there were no indirect holdings related to the Offeror.
During the period of the Takeover Bid, from 4 June 2024 to 30 July 2024, the Offeror acquired 776,364 additional shares, representing 0.19% of the issued share capital of the Target Company, at the price of €2.56 per share through purchases made during trading sessions. Of these, 31,959 shares (0.01% of the issued share capital) were held by investment funds managed by Senvest Management LLC.
Based on the preliminary results, the total acceptance rate of the Takeover Bid reached 0,405%, as Acceptance and Transfer Forms were submitted for 1,670,975 shares of the Target Company.
The total acceptance rate, combined with the 55.481% (229,030,025 shares) directly held by the Offeror at the expiry of the Takeover Bid on 30 July 2024, provides the Offeror with a total direct participation of 55,886% (230,701,000 shares) in the issued share capital of the Target Company. It is noted that the final acceptance rate may change in the case that during the final review of the Acceptance and Transfer Forms, and the accompanying required documents, it is found that data is missing or erroneous, and therefore, cannot be accepted.
According to the terms of the Takeover Bid and pursuant to the provisions of Article 10(1) of the Law, since the Offeror held more than 50% of the voting rights of the Target Company, the Takeover Bid is considered successful.
Axia Ventures Group and The Cyprus Investment and Securities Corporation Limited (“CISCO”) are acting as advisors to the Offeror in connection with the Takeover Bid. Additionally, CISCO is acting as the Underwriter Operator pursuant to the provisions of RAA 96/2008 (as amended) of the Cyprus Stock Exchange.
ANNOUNCEMENT OF THE RESULTS OF THE TAKEOVER BID TO THE SHAREHOLDERS OF HELLENIC BANK PUBLIC COMPANY LIMITED Links
- HCMC - Hellenic Capital Market Commission
- HBA - Hellenic Bank Association
- ΣΕΠΕΥ - Σύνδεσμος Εταιρειών Παροχής Επενδυτικών Υπηρεσιών
- SMEXA - Association of Members of the Athens Exchange
- BoG - Bank of Greece
- ESMA - European Securities Markets Authority
- ECSDA - European Central Securities Depositories Association
- HFAMA - Hellenic Fund and asset Management Association
- FESE - Federation of European Stock Exchanges
- WFE - World Federation of Exchanges
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