According to the REIC's announcement, beginning Thursday, January 2, 2025, 9,121,181 newly issued dematerialized common registered voting shares, with a nominal value of €2.10 per share, will commence trading on the Athens Stock Exchange (ATHEX). These shares will be issued as part of the capital increase resulting from the merger by absorption of INTERCONTINENTAL INTERNATIONAL REIC into the Company.
As a result of the merger, the Company’s share capital will increase by €19,154,480.10, due to the issuance of the 9,121,181 new shares. After the merger is finalized, the Company’s total share capital will amount to €94,260,125.40, divided into 44,885,774 common registered shares, each with a nominal value of €2.10.
The exchange ratio for the shareholders of the merging entities is as follows:
Shareholders of the absorbed company will receive 1.1944 newly issued common registered shares of the Company for each share of the absorbed entity they hold, with a nominal value of €2.10 per share.
Shareholders of the absorbing company will retain the same number of shares they held prior to the merger, with each share continuing to have a nominal value of €2.10.
Merger Approval and Legal Framework
The merger by absorption was approved on December 23, 2024, pursuant to Ministry of Development decision no. 3507996ΑΠ/23.12.2024, and was officially registered with the General Commercial Registry on the same day under Registration Code Number 5110800.
In addition, the amendment to Article 5 of the Company’s Articles of Association, reflecting the change in share capital, was ratified in line with the aforementioned Ministry of Development decision.
On December 23, 2024, the Athens Stock Exchange (ATHEX) granted approval for the listing of the 9,121,181 new shares to be issued as part of the merger, which will begin trading on January 2, 2025.
As a consequence of the merger, trading of the absorbed company's shares on the ATHEX will cease on Friday, December 27, 2024.
The initial trading price of the newly issued shares on the ATHEX, effective December 27, 2024, will be determined in accordance with the ATHEX Trading Rules and pursuant to Decision no. 26 of the ATHEX Board of Directors.
The beneficiaries of the new shares will be those shareholders who are registered in the Dematerialized Securities System (DSS) as of Monday, December 30, 2024 (record date). These new shares will be credited to shareholders' securities accounts in the DSS on Thursday, January 2, 2025, marking the first day of trading.
Upon completion of the merger, the Company’s total share capital will be represented by 44,885,774 common registered shares, with an aggregate nominal value of €94,260,125.40, providing a substantial increase in its capital base and equity position.
