Provision of documents to shareholders in relation to the spin off of the Wholesale Telecommunications Business Sector of PPC S.A. and contribution to its wholly owned subsidiary “DEI OPTIKES EPIKOINONIES SINGLE MEMBER S.A." and d.t. “FIBERGRID”

Announcement – Regulated information

May 24, 2024

PPC S.A. (“PPC”) announces that by decision no 44/20.05.2024 of its  Board of Directors (BoD), the following required documents, according to the applicable provisions of L. 4601/2019, are at the disposal of the Company’s  shareholders either at its headquarters in Athens, 30, Chalkokondyli str., 104 32 Athens (Ms. Chrysoula Tsiaka, Head of Shareholder Services Unit, tel: 2105293207) or posted on the Company’s website namely, in particular: 

1. The Draft Demerger Act dated 20.5.2024.
2. The Valuation Report dated 14.5.2024 of the fair value of the Wholesale Telecommunications Business Sector of PPC, which was prepared by the certified accountants Panagiotis Varvitsiotis (S.O.E.L. reg. number 19861) and Dimitrios Ganotakis (S.O.E.L. reg. number 19241) on behalf of the independent expert “Q.A.S. Certified Public Accountants LLC” with S.O.E.L. registration number E151, , which includes under Annex A’ the Sector’s Balance Sheet as of 31.12.2023, and under Annex B’ the Report determining the market value of the Sector’s  fixed assets prepared by the independent appraiser American Appraisal.
3. The Report of PPC’s BoD dated 20.5.2024 to the General Meeting of its Shareholders, according to article 61 of L. 4601/2019 and the respective report of Fibergrid’s BoD to the General Meeting of its shareholders, dated 21.05.2024, each of which explains and justifies the Draft Demerger Act from a financial and legal perspective.
4. The Expert Opinion Report dated 20.5.2024 on the Draft Demerger Act, by spin off, according to article 62 of L. 4601/2019 to the General Meetings of PPC and Fibergrid,  which was prepared by the certified accountants Panagiotis Varvitsiotis (S.O.E.L. reg. number 19861) and Dimitrios Ganotakis (S.O.E.L. reg. number 19241) on behalf of the independent expert  “Q.A.S. Certified Public Accountants LLC” with S.O.E.L. registration number E151.
5. The Annual Financial Statements as well as the annual Executive Summaries of PPC’s Board of Directors for the last three (3) years.
6. The Annual Financial Statements as well as the annual Executive Summary of Fibergrid’s Board of Directors for its first financial year (21.12.2022 to 31.12.2022).
7. Fibergrid’s Accounting  Report dated 15.05.2024 according to article 63 par. 1 case c’ of Law 4601/2019 for the 01.01.2024 – 31.03.2024 period

Completion of the demerger is subject to the necessary approvals as dictated by Law by the General Meetings of PPC and Fibergrid’s shareholders, the signing of the relevant notary act as well as all necessary approvals by the competent authorities.