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Friday, 07 April 2017 00:24

Approval by the Hellenic Capital Markets Commission of the request submitted by MCA Orbital Global Holdings LTD for the exercise of the squeeze-out right of the ordinary shares of KLEEMANN HELLAS S.A.

“KLEEMANN HELLAS Incorporated Company Industrial, Commercial Company for Mechanical Construction S.A.” (the “Company” or “KLEEMANN”) announces to investors the following:

1) The Board of Directors of the Hellenic Capital Markets Commission (“HCMC”), pursuant to its decision, dated 4 April 2017:
(a) Approved the request submitted by “MCA ORBITAL GLOBAL HOLDINGS LTD” (“MCA”) for the exercise of the squeeze-out right for the remaining ordinary shares of the Company, pursuant to article 27 parag.5 of Law 3461/2006; and

(b) Set the 21st of April 2017 as the date that trading of the shares of KLEEMANN ceased, according to article 2 of decision no. 1/644/22.4.2013 of the Board of Directors of HCMC.

 

2) In accordance with the provisions of decision no. 1/644/22.4.2013 of the Board of Directors of HCMC, MCA will pay in cash the price of €2.02 per share:

(a) To Hellenic Exchanges-Athens Stock Exchange S.A. (“HELEX”), in order for the latter to credit the relevant operators’ clearing accounts in favour of the beneficiaries having authorized the operators for the collection of the price corresponding to them; and

(b) To the Consignment and Deposit Loan Fund (“CDLF”) in favour of:

i. The beneficiaries having not authorized the operators for the collection of the price;
ii. The security holders, whose securities are deposited to operator’s accounts under special liquidation; and
iii. The holders of any rights over the securities, which are burdened with a pledge, usufruct or have been seized.

 

3) The price will be paid within three business days after the completion of the clearing of the transactions that will take place on the last day of trading of the Company’s shares.