Eurobank has announced the completion of the acceptance process for its mandatory public offer to acquire up to 100% of the issued share capital of Hellenic Bank. Eurobank's total direct participation now stands at 55.886% of Hellenic Bank's issued share capital.

In its announcement, Eurobank stated, "Eurobank S.A. (the ‘Offeror’), a subsidiary of Eurobank Ergasias Services and Holdings S.A., informs the investing public, in accordance with Article 38 of the Public Takeover Law of 2007 to 2022 (the ‘Law’), that on July 30, 2024, the acceptance process for the mandatory public offer (the ‘Public Offer’) to acquire up to 100% of the issued share capital of Hellenic Bank Public Company Limited (‘Hellenic Bank’ or the ‘Target Company’), submitted on June 4, 2024, was completed."

As of June 4, 2024, the announcement date of the mandatory Public Offer, the Offeror directly held 228,253,661 shares of Hellenic Bank, representing 55.29% of the total issued share capital of Hellenic Bank. No shares were held by individuals considered, under the Law, to be acting in concert with the Offeror, and there were no indirect participations related to the Offeror.

Additionally, during the Public Offer period from June 4, 2024, to July 30, 2024, the Offeror acquired an additional 776,364 shares, representing 0.19% of the Target Company, at €2.56 per share, through purchases made during stock exchange sessions. Of these, 31,959 shares (0.01% of the issued share capital) were held by investment funds managed by Senvest Management LLC.

According to preliminary results, the total acceptance rate of the Public Offer reached 0.405%, with Acceptance and Transfer Forms submitted for 1,670,975 shares of the Target Company.

Furthermore, the announcement states that the total acceptance rate, added to the 55.481% (229,030,025 shares) directly held by the Offeror at the end of the Public Offer on July 30, 2024, secures a total direct participation of 55.886% (230,701,000 shares) in the issued share capital of the Target Company. It is noted that the final acceptance rate may change if, during the final review of the Acceptance and Transfer Forms and accompanying documents, any incomplete or incorrect information is found, resulting in those forms being rejected.

According to the terms of the Public Offer and Article 10(1) of the Law, since the Offeror held more than 50% of the voting rights of the Target Company, the Public Offer is deemed successful.

Axia Ventures Group and The Cyprus Investment and Securities Corporation Limited (CISCO) are acting as Advisors to the Offeror regarding the Public Offer. Additionally, CISCO is acting as the Underwriting Manager in accordance with the provisions of CSE R.96/2008 (as amended) of the Cyprus Stock Exchange.