Month: April 2011

It is announced by the Company that the agreement with a syndicate of Banks for the issuance of a common Bond Loan for the amount of EURO 150 million was signed on April 21st, 2011. The purpose for the issuance of this loan is the restructuring of part of the existing short term bank liabilities of the Company by turning them to long term. The decision for the issuance of the loan was approved by the Extraordinary General Assembly of Company shareholders of March 14th, 2011 (first item on the agenda). The syndicate member banks are EMPORIKI BANK, HSBC BANK PLC and GENERAL BANK. The Agent of the loan is EMPORIKI BANK.

 
Maroussi, April 21st, 2011

The Board of Directors

 

MOTOR OIL (HELLAS) S.A. hereby announces that “ELEKTROPARAGOGI SOUSSAKI S.A.”, in which it participates directly by 40% and indirectly through its subsidiary “AVIN OIL” by 30%, obtained on Monday, April 11th, 2011, a license from the Ministry of Environment, Energy and Climate Change for the supply of electric power. The listed “CYCLON HELLAS S.A.” also participates in the share capital of the company by 30%.

The above license grants to “ELEKTROPARAGOGI SOUSSAKI S.A.” the right to engage in trading activities with regard to electric energy according to the provisions of the Law 2773/1999 as in force. The license has a 20 year term.

 

Maroussi, April 15, 2011

The Board of Directors

 

It is hereby announced that on April 1st , 2011, the company “DOSON INVESTMENTS COMPANY”, which is closely associated with Mr. Nikos Th. Vardinoyannis, Non-Executive BoD Member of MOTOR OIL HELLAS (person obliged to acknowledge his Stock Exchange transactions on Company shares, according to article 13 of Law 3340/2005), bought 1,673,690 Company shares of total value  € 15,063,210.

Maroussi, April 1st, 2011

 

It is hereby announced that on April 1st, 2011, PETROSHARES LIMITED sold 1,673,690 MOTOR OIL (HELLAS) S.A. shares of total value  € 15,063,210.

The present announcement is made in the context of article 6, par. 1(b) case (iv) of the Capital Market Commission Decision 3/347/12.7.2005, since the Board of Directors of PETROSHARES LIMITED consists of Messrs. Vardis J. Vardinoyannis, John V. Vardinoyannis, Panayotis N. Kontaxis and Petros T. Tzannetakis.

The above individuals are, respectively, Chairman, Executive Vice-Chairman, Non – Executive Vice -Chairman and Executive Member of the BoD of MOTOR OIL (HELLAS) S.A. and, therefore, obliged to acknowledge their stock exchange transactions on Company shares according to article 13 of Law 3340/2005.

Maroussi, April 1st, 2011