The Board of Directors of PPC S.A., during its meeting held on October 19, 2010, approved that all the Electricity Transmission activities, which are currently carried out by the Transmission Division of PPC S.A., are transferred to the 100% subsidiary of PPC S.A, "PPC TELECOMMUNICATIONS S.A." (whose Articles of Incorporation will be modified accordingly). The Board of Directors also approved the transfer to the subsidiary of the respective assets and liabilities of PPC S.A., which belong to these activities.
The date on which the results of the aforementioned approvals will be effected is set to be the 31.12.2010.
The Board of Directors, with a following decision, will formulate a detailed proposal to be submitted for approval to the General Assembly of Shareholders which will be convened in due course for this purpose.
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