Investor Relations - 24.12.2021

Initiation of Own Share Buyback Program

Athens, December 24,  2021

Announcement – Regulated information

The Public Power Corporation (“PPC” or the “Company”), following a) the 04.06.2021 resolution of the Extraordinary General Meeting of its shareholders, which approved, among others, the Company’s Remuneration Policy and the plan for the award of shares free of charge (stock awards) set forth therein,  which will be implemented through the acquisition of existing common shares (“Own Shares” and the “Program”, respectively), and b) the relevant 21.12.2021 decision of its Board of Directors, announces its intention to initiate the implementation of the Program. 

The purchases of the Own Shares will be made through the member of the Athens Exchange, PIRAEUS SECURITIES S.A. The maximum number of Own Shares that may be acquired will not exceed 1,856,000, which correspond to 0.8% of PPC’s total shares before its recent share capital increase, at a minimum purchase price of € 5 per share and a maximum purchase price of € 17 per share. The time period during which purchases of Own Shares may be made is expected to begin on 2.1.2022 and to end on 4.6.2023, at the latest.

The purpose of the Program is the award of shares free of charge  to PPC’s staff entitled thereto, in accordance with article 114 of Law 4548/2018 and as specifically provided for in its Remuneration Policy.

Purchases of Own Shares will be made to the extent they are considered beneficial to PPC and subject to the available liquidity of the Company as well as to market conditions.  

The announcement is issued in accordance with (EU) Regulation No 596/2014 of the European Parliament and of the Council dated 16.4.2014 and the  Commission Delegated Regulation (EU) 2016/1052 dated 8.3.2016.

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