Announcement – Regulated information
September 25, 2024
Public Power Corporation S.A. (“PPC”) announces that, the Board of Directors in its meeting held on 24.09.2024, decided to propose to the General Meeting of its shareholders, the cancellation of 12,730,000 PPC shares of a nominal value of € 2.48 per share, which correspond to 3.33% of the share capital (by rounding), with a corresponding decrease of its share capital by €31,570,400, according to article 29 of L. 4548/2018 and the corresponding, similar, amendment of article 5 of the Articles of Incorporation of PPC relating to the share capital. Following this reduction, if approved by the aforementioned General Meeting, the total share capital of PPC will amount to €915,789,600 divided into 369,270,000 ordinary registered shares with a nominal value of € 2.48 each.
The proposed cancellation is consistent with the standard practice of companies listed on regulated markets, whether in Greece or abroad, and contributes to increasing the equity return, with a positive impact on the investor community perception, while at the same time improving the position of their shareholders and increasing the value of their shares.
PPC will proceed to a new announcement for the date of convocation of the General Meeting of the shareholders, in which the Board of Directors’ proposal for the cancellation of shares will be submitted for approval.