ANNOUNCEMENT
Following press articles, PPC SA stresses that it indeed reviews its strategy, as also pointed out its Chairman and CEO, Mr. Manolis Panagiotakis, during the release of the first half 2015 financial results. The review of PPC’s strategy is imposed by the major developments in the EU electricity market which speed up in our country, according to the provisions of the loan agreement.
Within this context, PPC elaborated a complete and coherent plan for IPTO, which has been already submitted by the government to the institutions, based on which IPTO’s fixed assets will remain to PPC, something which is necessary. At the same time, PPC is drafting its plans with regard to its overall strategy as well as its proposals for all other issues of the electricity market. In any case, the sale of generation units is not part of such alternative plans since, among others, it does not serve any purpose.
Athens, August 31, 2015