Notification of significant change of voting rights

 Piraeus, 8.7.2014

Notification of significant change of voting rights

Piraeus Port Authority S.A. pursuant to the provisions of the Law 3556/2007, announces the notification received from Lansdowne Partners International Limited, as following:
- Corporate name of person subject to the notification obligation: Lansdowne Partners Cyprus Limited (“LPC”), Lansdowne Partners Austria Gmbh (“LPA”), Lansdowne Partners Limited (“LPL”) and Lansdowne Partners (UK) LLP (“LPUK LLP”).
- Corporate name of shareholders: Lansdowne Investment Company Limited, Lansdowne European Equity Master Fund Limited, Lansdowne Eureka Fund LP, Lansdowne European Long Only Master Fund Limited.
 
LPL controls LPC and LPC controls LPA. In addition, LPIL controls Lansdowne Partners Limited (“LPL”) and LPL controls Lansdowne Partners (UK) LLP (“LPUK LLP”). Pursuant to a restructuring in their business, with effect from 1 July 2014:

a) LPA exercises on a discretionary basis only the voting rights attached to 377.662 shares in the Company held by Lansdowne Investment Company Limited and represent 1,51% of the Company’s total voting rights. As a result the percentage of voting rights in the Company held by LPC and LPA has fallen below 5% by reference to the percentage of voting rights set out in the 2013 Notification.
a)    LPUKLLP acts as the Investment Manager of and is entitled to exercise the voting rights attached to 1.725.854 shares in the Company held by Lansdowne European Equity Master Fund Limited,  Lansdowne European Long Only Master Fund Limited and Lansdowne Eureka Fund LP previously managed by LPA and/or Lansdowne Partners Limited Partnership, none of which (funds) holds shares in the Company representing 5% or more of the total voting rights therein. As a result, the percentage of voting rights in the Company held by LPL and LPUK LLP has crossed the 5% threshold, while the percentage of the voting rights in the Company held by LPIL by reference to that notified pursuant to the 2013 Notification , i.e. 6,99%, has increased to 8,41% by reason of its control of LPC, LPA, LPL and LPUK LLP.

This notification is being made by LPIL on its own account and on behalf of each of LPC and LPA, in accordance with the Greek Law 3556/2007.
As it is noted in the relative notification LPIL is not considered to be a “controlled undertaking”, within the meaning of article 3, par. 1, case c) of Greek Law 3556/2007, which implements the provisions of EU Directive 2004/109/EC.

The present notification is announced in accordance with article 21 of Law 3556/2007 and is accessible in the Company's website address www.olp.gr