Piraeus, 12/08/2016
Notification of significant change of voting rights
Piraeus Port Authority S.A. (hereinafter referred to as PPA) pursuant to the provisions of the Law 3556/2007, announces the notification received from Hellenic Republic Asset Development Fund S.A. (hereinafter referred to as HRADF), as following:
- Corporate name of person subject to the notification obligation: HRADF.
- Corporate name of shareholder: HRADF.
HRADF notifies that following the execution of an over the counter transaction, made on August 10th, 2016, the percentage of voting rights in the Piraeus Port Authority S.A. directly held by HRADF has fallen from 74,14% to 23,14%, after the transfer of 51% to COSCO (Hong Kong) Group Limited (hereinafter referred to as COSCO Hong Kong). By controlling 100% of the “Hellenic Republic Asset Development Fund SA”, the Greek Government indirectly controls the aforementioned voting rights.
It is also noted that after a period of five years, should have been fulfilled certain conditions set out in the Share Purchase Agreement for the Sale and Purchase of 16,750,000 Shares in Piraeus Port Authority S.A. (SPA) signed with COSCO Hong Kong, including COSCO Hong Kong’s successful completion of a mandatory investment up to €293,783,800 into PPA, HRADF will further decrease its PPA stake to 7,14% by transferring additional 16% of PPA shares to COSCO Hong Kong.
The present notification is also accessible in the Company's website address www.olp.gr
