Current affairs - 20.05.2009

Two important Memoranda of Understanding, approved the BoD of PPC S.A.

ANNOUNCEMENT

The Board of Directors of PPC approved, on April 28, 2009, two Memoranda of Understanding, one between PPC and Restis Group of Companies - Golden Energy One Holdings Ltd and one with Quantum Corporation Limited and the Bank of Cyprus.

The Memorandum of Understanding with Restis Group of Companies - Golden Energy One Holdings Ltd refers to examining the potential for cooperation between the firms in the following areas:

  • Development, construction and operation of lignite mines and lignite power plants in Montenegro
  • Joint participation in the tender launched by the government of Montenegro for the partial sale and share capital increase of the company "EPCG" (electric utility active in the generation, transmission, distribution and supply of energy)
  •  Development, construction and operation of RES projects in Greece and Southeast Europe.

The Memorandum of Understanding with Quantum Corporation Limited and the Bank of Cyprus refers to examining the feasibility of the construction and operation of power plants in Bosnia-Herzegovina.

Athens, April 28, 2009

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