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30.09.2021

Approval of the draft demerger deed through hive down of the refining, supply & trading and petrochemical business and the establishment of a new company

“HELLENIC PETROLEUM S.A.” (the “Demerged Entity” or the “Company”) announces that its Board of Directors approved today the draft demerger deed of the Company through sector’s hive down and the establishment of a new company (the “Beneficiary”) in accordance with par. 3 of Article 57, Articles 59-74 of L. 4601/2019 and Article 52 of Law 4172/2013, as in force.

In particular, the demerger will involve the hive down of the refining, supply & trading and petrochemical business of the Company, to which the assets and liabilities, as described in the balance sheet of the hived down sector as at 30.06.2021, are included. All actions that will take place after the transformation date (30.06.2021) and concern the hived down sector shall be treated as occurring on behalf of the Demerged Entity.

Following completion of the demerger (on the date of registration with the General Commercial Registry of the relevant approval by the competent Authority) the following consequences occur:

  1. the Beneficiary is incorporated with the articles of association to be approved by the General Meeting of shareholders of the Demerged Entity and included in the final demerger deed, which shall be drawn by means of a notarial deed,
  2. the Demerged Entity shall become shareholder of the Beneficiary by acquiring the shares issued by the Beneficiary and more specifically 130,100,000 common registered shares, of nominal values of € 10,00 each and
  3. the Beneficiary substitutes the Demerged Entity, by way of universal succession, to all the transferred assets and liabilities, as set out in the balance sheet and valuation date and formed up to the completion of the demerger.

Following completion of the demerger, the Company shall remain listed on the Main Market of the Athens Stock Exchange and shall continue its activities with the remaining assets and activities.

The completion of the demerger is subject to the approval of the General Meeting of the shareholders of the Company, as well as to all other approvals.

The Company will keep investors informed on the progress of the hive down process, in accordance with the applicable legislation.

 

Relevant Content

09.09.2024

Transfer of own shares

HELLENiQ ENERGY Holdings S.A. (the "Company"), announces that, in accordance with the decision of the Annual General Meeting that took place on 27 June 2024, on 6 September 2024, it proceeded with the distribution, free of charge, of a one-time allotment (through an over-the-counter transaction) comprising 80,000 of the Company's own, common, registered shares, among eight beneficiaries (the "Beneficiaries") who served as non-executive members of the preceding Board of Directors (with a tenure until 27 June 2024), with each Beneficiary receiving 10,000 shares, as follows:

04.09.2024

Purchase of own shares

HELLENiQ ENERGY Holdings S.A. (the "Company"), announces that, within the framework of its share buyback program, during the period from 30/08/2024 to 03/09/2024, it purchased through the Athens Exchange a total of 80,000 own shares as follows:

30.08.2024

Initiation of Buyback program

HELLENiQ ENERGY Holdings S.A. (the "Company"), pursuant to a) the decision of the Annual General Meeting of shareholders of 27 June 2024 (the "General Meeting") which approved the adoption of a share buyback program (the "Buyback Program") and granted the necessary authorization for its implementation to the Board of Directors and b) the decision of the Company's Board of Directors on 29 August 2024, hereby announces its intention to commence the implementation of the Buyback Program. The purpose of the Buyback Program is to facilitate the free distribution of the Company's shares a) to the non-executive members of the Board of Directors whose term of office ended on 27 June 2024, in accordance with the relevant decision of the General Meeting and b) to its executives, as well as to executives of affiliated entities, within the framework of its long-term share distribution program, as established by the General Meeting.