The Cyprus Securities and Exchange Commission (CySEC) approved the publication of the Takeover Bid Document on June 25, 2024, for Eurobank S.A.'s acquisition of up to 100% of the issued share capital of Hellenic Bank, listed on the Main Market of the Cyprus Stock Exchange (CSE).

According to an announcement by Eurobank S.A. (the Offeror), a subsidiary of Eurobank Ergasias Services and Holdings S.A., the Offeror currently holds 229,029,857 shares, representing 55.48% of Hellenic Bank's issued share capital. Consequently, the Takeover Bid is deemed successful and unconditional under the relevant provisions of the law. The Offeror is thus obligated to acquire all shares offered based on the Takeover Bid terms, unless a cancellation or withdrawal occurs pursuant to Article 27 of the Law.

Additionally, Eurobank S.A. will acquire shares of the Target Company during the Acceptance Period of the Takeover Bid at a price equal to the offered consideration of €2.56 during trading sessions.

The Takeover Bid Document specifies that the consideration offered to Hellenic Bank shareholders who accept the Takeover Bid is €2.56 per share, paid in cash. This consideration represents a 3.03% discount from the closing share price the day before the Takeover Bid submission announcement and a 14.84% premium over the average closing price for the 12 months preceding the Takeover Bid announcement. Moreover, it is a 33.91% discount compared to Hellenic Bank's net asset value per share based on the unaudited condensed interim consolidated financial statements for the three-month period ended March 31, 2024.