Based on a more recent clarification announcement by the Hellenic Republic Asset Development Fund (HRADF) received on October the 10th, 2012, PPC S.A. further announces that HRADF is appointed as proxy holder of the Hellenic Republic, entitled to exercise at its sole discretion, in the most appropriate way and without any guidance by the shareholder “Hellenic Republic”, the voting rights of 39,440,000 ordinary shares with voting right (namely 17% of the existing share capital of the Company). It is also clarified that there has been no transfer of the Hellenic Republic voting rights on P.P.C. S.A. to HRADF, mentioned in the previous notification of HRADF dated 13.09.2012.
The duration of such proxy is thirty six (36) months as of the date of signing of the relevant agreement, unless the objective of the proxy, i.e. the privatisation of the Company, is achieved earlier.
It is noted that the Hellenic Republic owns and controls 100% of HRADF shares.
Athens, October 11, 2012