Further to the announcement of 8 May 2025 in relation to the approval by the Cyprus Securities and Exchange Commission of the application for the exercise of the Squeeze Out right for the acquisition of 100% of the shares of Hellenic Bank Public Company Limited (“Hellenic Bank”), Eurobank S.A. (the “Offeror”), a subsidiary of Eurobank Ergasias Services and Holdings S.A., announces the completion of the Squeeze Out procedure.
The consideration offered during the exercise of the Squeeze Out for the acquisition of the shares of Hellenic Bank not held by the Offeror is equal to the consideration offered during the Takeover Bid procedure, that is €4.843 per Hellenic Bank share paid in cash.
The total consideration to the beneficiary shareholders of Hellenic Bank was paid on 10 June 2025, and relevant letters providing information for the Squeeze Out were posted to those shareholders. The consideration was paid either via the posting of cheques to the address of the beneficiaries as registered in the Central Securities Depository/Central Registry of the Cyprus Stock Exchange (“CSE”), or via transfer to the bank accounts of the beneficiaries, or via transfer to the bank account of the Participants as per the instructions of the beneficiaries, or via transfer to a dedicated CSE bank account for the pledged and frozen shares.
The CSE has been informed of the payment of the consideration to the beneficiary shareholders of Hellenic Bank and has transferred in the name of the Offeror the remaining 8,279,967 shares, that is 2.006% of the issued share capital of Hellenic Bank, pursuant to article 36 of the Takeover Bids Law of 2007 to 2022 (the “Law”) and to the provisions of the CSE Regulatory Administrative Act 96/2008 as amended (“Regulatory Act”) which governs, among others, the Squeeze Out procedure.
This announcement is made pursuant to article 36(6) of the Law and to the provisions of the Regulatory Act.
The Cyprus Investment and Securities Corporation Limited (“CISCO”) has acted as the Underwriter Operator pursuant to the provisions of the Regulatory Act.