Piraeus, 26/03/2021
Notification of significant change in voting rights
Pursuant to the provisions of Law 3556/2007, Piraeus Port Authority S.A. announces the following notification received from China COSCO SHIPPING Corporation Limited:
- Corporate name of person subject to the notification obligation: China COSCO SHIPPING Corporation Limited.
- Corporate name of shareholder: COSCO SHIPPING (Hong Kong) Co., Limited.
As a result of the intra-group transfer of 100% of shares in COSCO SHIPPING (Hong Kong) Co., Limited dated 23/03/2021 from China Ocean Shipping (Group) Co., Ltd, which is also 100% held by China COSCO SHIPPING Corporation Limited, the full chain of controlled undertakings through which the voting rights of Piraeus Port Authority S.A. are effectively held, has been modified as follows:
COSCO SHIPPING (Hong Kong) Co. Limited is the direct shareholder of Piraeus Port Authority S.A., with a percentage of 51%.
As of 23/03/2021 COSCO SHIPPING (Hong Kong) Co., Limited is 100% held by China Shipping Group Co., Ltd, which is 100% held by China COSCO SHIPPING Corporation Limited, a Chinese state-owned company.
As a result, China COSCO SHIPPING Corporation Limited, by indirectly holding 100% of COSCO SHIPPING (Hong Kong) Co., Limited, indirectly holds 51% of the voting rights in Piraeus Port Authority S.A.
It is noted that China COSCO SHIPPING Corporation Limited is not controlled within the meaning of the applicable provisions of the Greek Law 3556/2007.
