Announcement of Significant Event

Announcement of Significant Event


ELLAKTOR S.A. (hereinafter the “Company”) informs the investment community of the following:


  • On 18.4.2024, the Company's Board of Directors unanimously resolved on submitting a binding offer to acquire (hereinafter the «Offer”) the full stake that RB Ellaktor Holding (hereinafter “RB Holding”) owns in REDS S.A. (hereinafter “REDS”), according to the following terms (the “Transaction”):
  1. Number of shares: 22,277,743 shares corresponding to 38.79% of the share capital and voting rights of REDS
  2. Consideration: the total consideration amounts to €60,149,906, or €2.70 per share, which has been confirmed by the valuation exercise and the fairness opinion issued by the independent financial advisor Euroxx Securities S.A.  
  3. Since RB Holding is a related party to the Company, execution of this sale and purchase agreement, is subject to the procedure prescribed by art. 99-101 of Law 4548/18 as currently in force
  4. Timeline: Completion of the transaction is anticipated within three (3) weeks.
  • Moreover, it is hereby notified that, on the same date, RB Holding has accepted the Offer.
  • During the aforementioned meeting, the Board of Directors' also unanimously resolved on the Company purchasing additional shares in REDS through the Athens Exchange market, at the same per share consideration of €2.70, with the aim to acquire shares corresponding to, at least, 95% or greater, of the total number of shares issued by REDS, informing accordingly the authorities.
  • Should a stake greater than 95% be acquired, REDS intends to initiate the process of a voluntary exit from the Athens Exchange, by convening an Extraordinary General Meeting of shareholders to resolve (with a majority vote of 95% of total voting rights) on the delisting of its shares from the main market of the Athens Exchange, following submission of the relevant request to the Hellenic Capital Market Commission, according to the provisions of art. 17 of Law 3371/2005 as currently in force.

Kifissia, 19.04.2024

Announcement of significant event 19.04.2024


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