27/03/2024 16:29:18

Cooperation with MYTILINEOS HOLDINGS S.A. through KORINTHOS POWER S.A.

Following the Joint Venture Agreement signed with MYTILINEOS HOLDINGS S.A. we hereby inform the investment community that ARGYRITIS LAND (100% subsidiary of MYTILINEOS HOLDINGS S.A.) acquired, through a cash share capital increase, a 65% stake in KORINTHOS POWER S.A. for an amount of Euro 59.4 million. MOTOR OIL remains shareholder of KORINTHOS POWER with a stake of 35%.<br><br>

Furthermore it is announced that KORINTHOS POWER, which holds a power generation license for approximately 400 MW, awarded to the company METKA S.A of the MYTILINEOS Group the Engineering, Procurement and Construction (EPC) contract of a total cost of Euro 285 million for the construction of a combined cycle power production plant fuelled with natural gas which will be located within the facilities of MOTOR OIL at Agii Theodori of Korinthos. The construction of the plant is expected to be completed within 2011.<br><br><br><br>

Maroussi, 27 April 2009<br><br>
The Board of Directors

Announcement in the context of Law 3556/2007

It is hereby announced that on April 22, 2009, the individuals listed hereunder (all obliged to acknowledge their stock exchange transactions on Company shares according to article 13 of Law 3340/2005), purchased MOTOR OIL (HELLAS) S.A. shares as follows:

1)Mr. Petros T. Tzannetakis, Deputy Managing Director – Chief Financial Officer and Executive BoD Member: 2,000 shares of total value €14,460.54.

2)Mr. Ioannis N. Kosmadakis, Deputy Managing Director – Marketing General Manager and Executive BoD Member: 6,000 shares of total value 42,500.

3)Mr. Ioannis Dimakis, Corporate Announcements Officer: 3,000 shares of total value €21,556.09.

4)The spouse of Mr. Ioannis Dimakis, Corporate Announcements Officer: 1,250 shares of total value €8,981.69

 

Maroussi, April 23, 2009

 

Announcement of other important matters

In the context of article 2 paragraph 2 ib) of the Decision 3/347/12/7.2005 of the Board of Directors of the Hellenic Capital Market Commission, MOTOR OIL (HELLAS) S.A. hereby announces that the Governmental Privatization Committee approved the sale of the “OLYMPIC AIRWAYS SERVICES S.A.” stake in the share capital of “OLYMPIC FUEL COMPANY (OFC) S.A.”. More specifically, MOTOR OIL Group will acquire 64.06% of the share capital of OFC for a total amount of Euro 6,581,404 as provided for by the initial shareholders’ agreement dated September 15th, 1998. Following the completion of the transaction, the direct and indirect (through the wholly owned subsidiary “AVIN OIL A.V.E.N.E.P.”) MOTOR OIL stake in the share capital of OFC will become 92.06%.

Maroussi, 15 April 2009

The Board of Directors