MOTOR OIL (HELLAS) S.A. hereby announces that the Annual Ordinary General Assembly of Company shareholders of May 26th, 2011 approved the share capital decrease of the Company for a Euro amount of 27,695,745.
The decrease of the share capital of the Company will be effected through subsequent reduction of the nominal value of Company shares from Euro 1.20 to Euro 0.95 and return of capital to the shareholders in cash of Euro 0.25 per share.
Following the above, the share capital of the Company will amount to Euro 105,243,831 divided into 110,782,980 common registered shares of nominal value Euro 0.95 per share.
The Ministry of Development Competitiveness and Shipping with its resolution K2-5377/01.07.2011 approved the amendment of the relevant article of the Articles of Association of the Company. The Board of Directors of Athens Exchanges was informed in respect of the decrease of the nominal value of Company shares with return of capital to the shareholders in cash of Euro 0.25 per share in its meeting dated July 27th, 2011.
From Monday October 3rd, 2011 the shares of the Company will trade on the ATHEX under the new nominal value of Euro 0.95 per share and ex-return of capital to the shareholders in cash of Euro 0.25 per share.
On the same date, the opening price of the shares of the Company on the ATHEX will be determined in accordance with the Athens Exchanges Rulebook in conjunction with Resolution 26 of the Board of Directors of the Athens Exchanges as it is in force.
Company shareholders registered in the electronic files of the Dematerialized Securities System (S.A.T.) dated Wednesday October 5th, 2011 (record date) for MOTOR OIL (HELLAS) S.A. are entitled to the return of capital amount.
The payment of the return of capital amount to Company shareholders will be effected on Tuesday October 11th, 2011 through the payee bank – BANK OF PIRAEUS S.A. Details in respect of the way of payment of the return of capital amount to Company shareholders will be acknowledged with a subsequent announcement in due course.
For more information, shareholders can contact the Shareholders’ Department of the Company (tel: +30 201 8094194.
Maroussi, 28 July 2011
The Board of Directors