Investor Relations - 08.02.2017

Comments on a press article

                                                                   Announcement

Commenting on an electronic press article and for the accurate information of the investors’ community, PPC clarifies that in order to contribute to “ENERGIAKI HOLDING S.A.”(“ENSYM”) 51% of IPTO’s shares, which it currently possesses, PPC assigned the project for the valuation (as stipulated in L. 2190/1920) of IPTO’s shares to Deloitte Business Solutions. The company proceeded to the valuation of the shares with an estimated value of € 491.8 mln.

In addition, it is clarified that by the act of the amendment of the Articles of Incorporation of PPC, which was registered in the General Electronic Commercial Registry (GEMI), the decrease of PPC’s share capital was approved. According to article 9a par. 2 of L. 2190/1920 as in effect, applied mutatis mutandis, it was deemed that a new valuation was not necessary for the decrease of PPC’s share capital and the return in kind to its shareholders of the ENSYM shares.  

Finally, as mentioned in PPC’s announcement dated 27.01.2017, the net amount of the capital return that PPC will receive by IPTO, pursuant to the relevant provision of L. 4389/2016, amounts to € 92.9 mln. instead of € 130 mln.

Athens, February 8, 2017

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