Hotel - Tourist - Construction and Quarry services

ANNOUNCEMENT

02.07.2020

KEKROPS S.A., hereby announces the following: the Company’s  Board of Directors convened on May, 28th 2020 and reviewed the Report of May, 14th 2020 submitted by Mr Elias Zafiropoulos, Certified Auditor Accountant (SOELr.n. 22811) of Mazars Auditors, should the Company proceed with the issue of a Common Debenture Loan. Following this the Board has unanimously decided that the company should proceed with the issuance of a Common Debenture Loan (as such is defined in Law 4548/2018 arts 100 and 101) for the amount of € one million eight hundred thousand (1.800.000,00), divisible in eighteen thousand (18.000) Common Bonds payable to the Bearer each valued at € one thousand (1.000) and issued on par value; the issue of the Loan shall be accomplished in six installments maximum, its duration shall be two years and it shall bear interest at 5%; the Loan shall be covered in equal parts by GEK TERNA S.A. and INTRADEVELOPMENT S.A. (shareholders of the Company holding, respectively, 37,48% and 34.32% of its shares).

During the same Meeting the Board authorized the Managing Director Mr. Petros Souretis, following the expiration of the period required by art.100 of L4548/2018,  to sign on behalf of the Company the Debenture Loan’s Indenture, including in it all the provisions mentioned above as well as any others that he may consider expedient.

The Company has already proceeded with all the appropriate publication procedures required by art.101 L4548/2018 (re: 62377/17.5.2020 Announcement of the General Secretariat for Commerce and Consumers Protection/Dept. of Listed S.A.s and Sport S.A.s); the 10-day period, required by art.100 par.3 L4548/2018, expired, without any shareholder asking for a General Meeting.

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