Piraeus, 07 October 2021
ANNOUNCEMENT
Notification of significant change of voting rights
pursuant to Law 3556/2007
Piraeus Port Authority S.A. (hereinafter referred to as “PPA S.A.”), pursuant to the provisions of Law 3556/2007, announces as follows the notification received from its shareholder COSCO SHIPPING (Hong Kong) Co., Limited:
- Corporate name of person subject to the notification obligation: COSCO SHIPPING (Hong Kong) Co., Limited.
- Corporate name of shareholder: COSCO SHIPPING (Hong Kong) Co., Limited.
As a result of an over-the-counter transaction that took place on 06 October 2021, the percentage of voting rights of COSCO SHIPPING (Hong Kong) Co., Limited in PPA S.A. has increased from 51% to 67%.
With the above over-the counter transaction, COSCO SHIPPING (Hong Kong) Co., Limited has acquired from Hellenic Republic Asset Development Fund S.A. an additional 16% of shares in PPA S.A.
The above transaction has taken place under an Amended Share Purchase Agreement between COSCO SHIPPING (Hong Kong) Co., Limited as Purchaser and Hellenic Republic Asset Development Fund S.A. as Seller, following ratification of an Amendment to the Concession Agreement between the Hellenic Republic and PPA S.A. (Law 4838/2021, Government Gazette 180A/ 01.10.2021).
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. As a result of the transaction, China COSCO Shipping Corporation Limited indirectly holds 67% of voting rights in PPA S.A.
It is noted that China COSCO Shipping Corporation Limited is not controlled within the meaning of Law 3556/2007.
