Obligations of Major Shareholders under L.3556/2007

ELINOIL S.A. with the aim of informing and facilitating the investing public, announces information regarding the obligation and the process of disclosure of significant holdings, in accordance with the provisions of Law 3556/2007, the provisions of decision 1/434/3.7.2007 of the BoD of the Hellenic Capital Market Commission and the relevant clarifications of the Hellenic Capital Market Commission’s Interpretative Circular 33.

In particular, according to Law 3556/23007, each shareholder of a company, whose shares are listed on a regulated market, and he acquires or disposes of shares with voting rights, as well as of any person, shareholder or not, who acquires, disposes of or exercises voting rights and as result of the acquisition or disposal or exercise thereof, the percentage of voting rights he holds or exercises reaches, exceeds or fall below the thresholds of 5%, 10%, 15%, 20%, 25%, 1/3, 50% and 2/3 of the company’s total voting rights, or if he holds a percentage of voting rights higher than 10%, and there is a change equal or higher than 3% of the company’s total voting rights, has an individual obligation to notify the company and the Hellenic Capital Market Commission as soon as possible, in any event not later than three (3) days of negotiation, the first of which being the day following the day he was informed or ought to have been informed on the acquisition or disposal or ability to exercise the voting rights.

ELINOIL for the calculation of the above thresholds has posted online (www.elin.gr) its share capital (EUR 11,914,065) divided into 23,828,130 ordinary registered shares with a nominal value of EUR 0.50 each, corresponding to 23,828,130 voting rights.

The notification shall include the following information:

  • the percentage of the voting rights held as a result of the acquisition or disposal;
  • the chain of controlled entities through which the voting rights are actually held, if this is the case;
  • the date on which the percentage of voting rights has reached, exceeded or fell below the above thresholds;
  • the identity of the shareholder, even if he or she is not entitled to exercise voting rights and the person entitled to exercise voting rights on behalf of that shareholder.

The above briefing will be made by submitting to our Company and to the Hellenic Capital Market Commission the TR1 notification form, posted on our website, legally signed by the liable person himself or by another person, legally authorized, and if the liable person is a legal person, by his legal representative. The form shall be accompanied by an annex, which shall be filled in by the liable persons with their personal data and submitted only to the Hellenic Capital Market Commission. The correct completion of the notification form is an obligation of the liable person, who is responsible for any errors and omissions.

The TR1 notification form is submitted:

  1. at our Company’s headquarters, 33, Pigon Street, 14564 Kifissia, at the Shareholder Service, (tel. +30 210 6241536), during working days and hours, with the words “notification of significant changes in voting rights in accordance with Law 3356/2007”. To facilitate shareholders, submission can also be done by sending a fax to +30 210 6241529, with a cover sheet containing the sender’s details, his signature, the contact number and the number of pages sent. The liable person must ensure that the documents are successfully sent and received by the relevant Company’s Shareholder Service.
  2. to the Central Protocol of the Hellenic Capital Market Commission, at 1, Kolokotroni & Stadiou Str., 105 62 Athens, and addressed to the Department of Public Enforcement and Supervision of Listed Companies, with the words “notification of significant changes in voting rights in accordance with Law 3356/2007”. Submission is also possible by fax 210 3377243. The liable person must ensure that the documents are successfully sent and received by the competent department of the Hellenic Capital Market Commission.

In the event of any breach of the above obligations, Article 26 of Law 3556/2007 provides for the possibility of a reprimand or fine of up to EUR 1,000,000 to the Hellenic Capital Market Commission.

For the fullest information of our Shareholders regarding the above, Law 3556/2007, decision no. 1/434/03.07.2007 of the Board of Directors of the Hellenic Capital Market Commission, the relevant interpretative Circular 33 of the Hellenic Capital Market Commission and the TR1 notification form of significant transactions are posted on our website.