Company Announcements

Announcement Cancellation&Deletion of Own Shares

Source: RNS
RNS Number : 1998Q
Hellenic Telecomms Organization S A
15 February 2019
 

Announcement Cancellation & Deletion of Shares

 

 

Αthens, February 15, 2019 - Hellenic Telecommunications Organization S.A. ("OTE S.A." or the "Company") announces that the Extraordinary General Meeting of the Company's shareholders, held on 19/12/2018, decided among other issues, pursuant to article 16 of C.L. 2190/1920, for the cancellation of the total of ten million two hundred eleven thousand and seventy (10,211,070) own shares, with a nominal value of €2.83 each, held by the Company on that date, with a corresponding reduction of its share capital by twenty eight million eight hundred ninety seven thousand three hundred and twenty eight euros and ten cents (€28,897,328.10), and for a corresponding amendment of the article 5 (Share Capital) of the Company's Articles of Incorporation.

 

The aforementioned own shares were acquired as follows: (i) 8,890,960 own shares have been acquired from 04/04/2018 till 13/11/2018, with an average purchase price of €10.53 per share, with the intention to be cancelled, within the framework of the Own Share Buy Back Program as approved by the General Meeting of Shareholders (meeting of 15/02/2018), (ii) 1,320,110  own shares have been acquired from 02/01/2014 till 14/10/2014, with an average purchase price of €10.82 per share, in the context of previous decisions of the General Meeting of Shareholders of the Company for the purchase of own shares, in accordance with article 16 of C.L. 2190/1920, in order for the Company to meet the obligations of a stock option plan for the staff, which, eventually, were not distributed or sold.

 

Following, the aforementioned reduction due to the cancellation of the shares, Company's share capital will amount to one billion three hundred fifty eight million two hundred twenty eight thousand two hundred seventy two Euros and seventy seven cents (€1,358,228,272.77) (from €1,387,125,600.87 before the reduction) divided into four hundred seventy nine million nine hundred thirty nine thousand three hundred nineteen (479,939,319) registered shares (from 490,150,389 registered shares before the cancellation), with a nominal value of two euros and eighty three cents (€2.83) each.

 

On 05/02/2019 the decision of the Ministry of Economy and Development approved the amendment of article 5 of the Company's Articles of Incorporation that was registered in the General Commercial Register (G.E.MI.) with decision number 15156/05-02-2019.

 

The Athens Stock Exchange's Corporate Actions Committee was informed at the meeting held on 14/02/2019 regarding the intention of the Company to cancel the aforementioned own shares with a corresponding reduction of its share capital.

 

 

Following the above, 19/02/2019 was set as the date for the cancellation and deletion from the Athens Stock Exchange of the 10,211,070 own shares. From this date on, trading of the aforementioned shares is ceased. 

 

 

 

 

 

FOR FURTHER INFORMATION:

OTE GROUP INVESTOR RELATIONS

Konstantinos Krokos

Manager/ Department of Financial Communication & Relations with Regulatory Authorities

Τel. + 30 210-6111121

Fax: + 30 210-6111030

E-mail: iroffice@ote.gr


 

 

 

 

 

                                                                                                                                          


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