Athens, July 3, 2023
Announcement – Regulated information
PPC S.A. (”PPC”), following its announcement dated 22.2.2023, informs that, pursuant to the approved by L. 4956/2022 “Framework Programme Contract of par. 4, art. 155 L. 4759/2020 between the Greek State and the Sociétés Anonymes with the distinctive title “METAVASI S.A.” and “PPC S.A” (herein “F.P.C.”), on 29.06.2023 the transfer of all the shares of “METALIGNITIKI SINGLE MEMBER S.A.” (with the distinctive title "METALIGNITIKI S.A."), a 100% subsidiary of PPC S.A., to “METAVASI S.A.” was concluded for a consideration of €162.2 m. which equals to the fair value of the demerged business sector as it was evaluated for the needs of the hive-down of the business sector and establishment of a new company pursuant to L. 4601/2019, the provisions of L. 4872/2021, of L. 4548/2018 and the relevant F.P.C..
Payment of the consideration will occur gradually through the takeover by “METAVASI S.A” of the obligation for equal payments of contractors and suppliers to which PPC has assigned or will assign the execution of the restoration works of the lands that constitute the perimeter of the business sector.