It is worth noting that among the items discussed at the extraordinary general meeting was the absorption of the subsidiary Energiakos Komvos and the subsequent capital increase, in which the company, listed since January, holds a 56% stake.
Energiakos Komvos owns the five-star hotel complex "Summer Senses" in Pounta, Paros, with 100 rooms. The subsidiary is part of the EKTER group of shareholders. As part of the transaction, EKTER acquired 44% of Energiakos Komvos from Konstantinos Stoumbos and 12% from Konstantinos Sipsa-Buza, totaling €2.4 million. The remaining 44% of shares in Energiakos Komvos are held by Mr. Athanasios Sipsa.
For the exchange ratio between the shares of Energiakos Komvos and EKTER, it is proposed that approximately 8.6 new common registered shares of EKTER be issued for every 1 common registered share of Energiakos Komvos. However, since EKTER already owns 56% of Energiakos Komvos, these shares will be canceled, meaning EKTER will not receive any new common shares in the merger. As a result, only Mr. Athanasios Sipsa, the joint shareholder of Energiakos Komvos, will receive new shares in EKTER, increasing his stake to 19.6%. Other existing shareholders will retain their current holdings.
At the convened General Assembly, as stated in the company's announcement, 25 shareholders or voting rights holders, representing 8,820,917 shares (39.2% of the total capital), were present or represented. This was not sufficient to meet the required quorum of 50% of the company's paid-up share capital. Therefore, a 1st repeat General Assembly will be held on Monday, November 25, 2024, at 1:00 p.m., at the same location. No new invitation is required, as the time and place were outlined in the original notice, in accordance with Article 130§4 of Law 4548/2018.
