Trastor secures overdraft facility up to €40M with Piraeus Bank
Trastor secures overdraft facility up to €40M with Piraeus Bank

Trastor secures overdraft facility up to €40M with Piraeus Bank

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RE+D magazine
31.10.2024

Trastor announced the approval of execution of an Overdraft Facility Agreement through an Open (Mutual) Account (hereinafter the “Overdraft Facility Agreement”), with Piraeus Bank.

The Company’s Board of Directors resolved on October 25, 2024, to approve the execution by the Company with “Piraeus Bank S.A.” (hereinafter the “Bank”) of an Overdraft Facility Agreement through an Open (Mutual) Account (hereinafter the “Overdraft Facility Agreement”), under which the Bank shall grant credit to the Company up to the amount of forty million euros (€40,000,000) (the “Credit Facility”), pursuant to the specific terms and conditions set forth in the Overdraft Facility Agreement and the “First Additional Act to Overdraft Facility Agreement No. 16900446 through Open (Mutual) Account” (hereinafter the “Additional Act”), drafts of which were presented to the members of the Board of Directors.

This transaction serves the corporate interest, as it contributes to the facilitation and advancement of the Company’s purposes and is fair and reasonable for the Company and its shareholders, as it enables the Company to secure additional liquidity to implement its business plan. 

The majority shareholder, “PIRAEUS BANK S.A.”, has made a declaration pursuant to Article 100 (3) of Law 4548/2018, indicating that it does not intend to request the convocation of a general meeting to decide on the matter of granting the special authorization of Article 99 of Law 4548/2018, as in force. Given that the aforementioned main majority shareholder holds more than 98% of the Company’s paid-up share capital and that the Company’s Articles of Association do not provide for a reduced percentage for exercising the right under Article 100(3) of Law 4548/2018, as in force, no other shareholder holds at least 5% of the Company’s share capital to request the convocation of a general meeting to decide on this matter.