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Announcement Category: Regulatory Announcements

Change of subsidiary company name and appointment of Executives

MOTOR OIL (HELLAS) S.A. (the Company) hereby announces that its wholly owned subsidiary under the legal name Elektroparagogi Soussaki Single Member S.A. has been renamed to Motor Oil Renewable Energy Single Member S.A. (MORE).

All non-oil activities of the Group of MOTOR OIL (HELLAS) S.A. related to energy (i.e. Renewable Energy Sources, participations in Power Production ventures, Floating Storage Regasification Unit, Energy & Natural Gas supply) will be merged into MORE.

Mr. Victor Papaconstantinou, until recently General Manager of Planning & Development of the Company, has been appointed General Manager of MORE. Mr. Papaconstantinou holds a Degree in Chemical Engineering from the National Technical University of Athens and an MBA from Warwick Business School. He is a Fellow in the Association of Chartered Certified Accountants. Over a 25-year period he has held senior and top managerial positions in energy, industrial and consulting companies.

Subsequently, the Company hereby announces the amendment of its organization chart with the creation of the Strategy General Division and the hiring of Mr. Georgios Triantafyllou for the position of General Manager. Mr. Triantafyllou holds a dual degree in Economics and History from Brandeis University and an MBA from MIT Sloan School of Management. Prior to joining the Company in July 2021, he worked for 13 years at Goldman Sachs’ Investment Banking Division in London and New York, focusing on the Energy and Power sectors. In his last role at Goldman Sachs, he was Head of Southeastern Europe including Greece and Cyprus.

Maroussi, 28 July 2021

The Board of Directors

Organization of the new Board as a Body Corporate

Pursuant to article 2 of the Decision 3/347/12.7.2005 of the Hellenic Capital Markets Commission, it is hereby announced that the new Board of the Company in its meeting dated 24 June 2021 reorganized as a Body Corporate as follows:

Vardis J. Vardinoyannis – Chairman, Non-Executive Member

Yannis V. Vardinoyannis – Vice Chairman & Managing Director, Executive Μember

John N. Kosmadakis – Deputy Managing Director, Executive Μember

Petros Τ. Tzannetakis – Deputy Managing Director, Executive Μember

Demosthenes N. Vardinoyannis – Νon Executive Μember

George P. Alexandridis – Νon Executive Μember

Niki D. Stoufi – Non Executive Member

Panayotis J. Constantaras – Non-Executive / Independent Member

Rania N-P Ekaterinari – Non-Executive / Independent Member

Dimitrios-Antonios  A. Anifantakis – Non-Executive / Independent Member

 

The term of the above members of the Board is for one year commencing on the next day following their election by the General Assembly and extended to the deadline the next Ordinary General Assembly has to take place and until the relevant decision is taken.

Moreover, the Audit Committee of the Company was organized as a Body Corporate on the same day as follows:

Chair:

Panayotis J. Constantaras (Non-Executive / Independent BoD Member)

Members:

Konstantinos N. Thanopoulos – Third Person

Spyridon X. Kyritsis  – Independent Third Person

 

The term of office of the Audit Committee is for one year i.e. similar to that of the members of the new Board.

Furthermore, the Board of Directors appointed the joint Remuneration & Nomination Committee with responsibilities as stipulated in articles 11 and 12 of the Law 4706/2020. The Remuneration & Nomination Committee consists of the following members:

Chair:

Rania N-P Ekaterinari (Non-Executive / Independent Board member)

Members:

Dimitrios-Antonios  A. Anifantakis (Non-Executive / Independent Board member)

Niki D. Stoufi (Non-Executive Board member)

 

Lastly, the Board of Directors appointed the Sustainability Committee as follows:

Chair:

Yannis V. Vardinoyannis (Executive Board member)

Members:

Petros Τ. Tzannetakis (Executive Board member)

John N. Kosmadakis (Executive Board member)

Michael-Matheos J. Stiakakis (Refinery General Manager)

Rania N-P Ekaterinari (Non-Executive / Independent Board member)

Niki D. Stoufi (Non-Executive Board member)

 

The task of the Sustainability Committee is to oversee, approve and monitor the Group’s Sustainability Strategy, set ESG targets, monitor the ESG performance, identify opportunities or ESG risks and decide on corrective actions.

 

Maroussi, 28 June 2021

The Board of Directors

 

 

 

 

MOTOR OIL-GEK TERNA Joint Venture for 375 million Euro energy investment at Komotini

MOTOR OIL – GEK TERNA Joint Venture

The two Groups jointly proceed with a EUR 375 million energy investment project at the Komotini area

 

The Groups of MOTOR OIL and GEK TERNA hereby announce their joint cooperation for the development, construction, and operation of a new modern Combined Cycle Gas Turbine (CCGT) power plant fueled with natural gas of 877 MW capacity located in the industrial area of Komotini.

The EUR 375 million project is one of the largest investments in the Greek energy market set to create approximately 500 new job positions during the construction phase and 100 permanent job positions during the commercial operation of the plant.

The main equipment to be used for the construction of the plant will be of the most advanced technology leading to peak performance.

The construction of the power plant is scheduled to commence within the year 2021 and is expected to be commissioned for commercial operation early in the year 2024. TERNA will undertake the construction works of the plant.

The two groups will participate with a 50% stake each in the joint scheme which will develop the power plant. The above agreement is subject to approval by the Competent Authorities.

MOTOR OIL Group is a modern energy group with a leading role in the crude oil refining and marketing of petroleum products in Greece and the wider Eastern Mediterranean region. The Group has presence in the energy and natural gas supply sector through its subsidiary NRG Supply and Trading S.A. which is an integrated energy provider offering energy solutions to household, commercial and industrial customers. Furthermore, NRG is a pioneer in the field of electromobility. MOTOR OIL Group is also engaging in the Renewable Energy Sources (RES) market consistently enhancing its presence in this field.

GEK TERNA Group has a leading position in the fields of infrastructure, concessions, energy production, supply and trade and waste management. Through HERON, GEK TERNA was the first private group to build and put to commercial operation a power production plant fueled with natural gas in Greece back in 2004 (HERON 1). Today the group participates in two power plants fueled with natural gas (HERON 1 & 2), while through HERON it plays a fundamental role in the market of energy and natural gas supply. Moreover, through TERNA ENERGY, the group possesses a leading position in the Renewable Energy Sources (RES) sector.

 

Maroussi, 11 June 2021

The Board of Directors

 

Release Date of Q1 2021 Financial Results

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the financial results of Q1 2021 will be released after the close of business on Tuesday June 15th, 2021 while a teleconference has been scheduled for Wednesday June 16th, 2021 at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

The Interim Financial Statements for the period 1.1.2021 – 31.3.2021 will be available on the Company website www.moh.gr (Investor Relations / Financial Information / Quarterly Financial Statements) as well as on the HELEX site www.athexgroup.gr after the close of business on Tuesday June 15th, 2021.

Maroussi, June 1st, 2021

The Board of Directors

Completion of the transaction for the acquisition of a portfolio of Wind Parks

Further to a relevant announcement dated 31st of March 2021, MOTOR OIL (HELLAS) S.A. announces that on 14th of May 2021 the Hellenic Competition Commission approved the acquisition by TEFORTO HOLDINGS LIMITED* of the aggregate share capital of six companies in possession of a portfolio of twelve wind parks out of which eleven for an aggregate 220 MW capacity in full operation and one for 20 MW capacity under construction. The said six companies are also in possession of a portfolio of licenses to be developed for an aggregate capacity of 650 MW.

The closing of the transaction took place on 17th of May 2021 for a cash consideration of EUR 117.1 million.

Maroussi, 17 May 2021.

The Board of Directors

(*) A member company of MOTOR OIL (HELLAS) S.A. Group which manages its Renewable Energy Sector portfolio.

Financial Calendar of the Year 2021

In the context of its obligations according to the Regulation of the ATHENS EXCHANGE, MOTOR OIL (HELLAS) S.A. hereby announces its Financial Calendar of the year 2021 which has as follows:

Release date of the fiscal year 2020 Financial Results: Tuesday April 20th, 2021 after the close of business. The Annual Financial Report of the fiscal year 2020 will be available on the Company website www.moh.gr (Investor Relations / Financial Information / Full Year Financial Reports) as well as on the ATHEX website www.athexgroup.gr after the close of business on Tuesday April 20th, 2021.

Annual briefing to analysts: will take place over a teleconference on Wednesday April 21st, 2021 at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

Annual Ordinary General Meeting: Wednesday June 16th, 2021.

The Board of Directors of the Company will propose to the Annual Ordinary General Meeting no dividend distribution for the fiscal 2020.

Maroussi, April 20th, 2021

The Board of Directors

Agreement for the acquisition of a portfolio of Wind Parks

MOTOR OIL (HELLAS) S.A. announces that it has reached  a preliminary agreement for the acquisition of a portfolio of twelve (12) wind parks out of which eleven (11) of an aggregate capacity of 220 MW in full operation  and one of 20 MW capacity under construction. The said wind parks, most of which are located in Central and Northern continental Greece, constitute assets of six (6) target companies.

The value of the transaction is estimated at Euro 123.5 million and will be effected through TEFORTO HOLDINGS LIMITED a member company of the MOTOR OIL (HELLAS) S.A. Group which manages its Renewable Energy Sector portfolio.

It is noted that in addition to the twelve (12) wind parks, the target companies are in possession of a portfolio of licenses to be developed of an aggregate capacity of 650 MW.

The completion of the transaction is subject to the approval by the Hellenic Competition Commission.

Maroussi, 31 March 2021

The Board of Directors

Release Date of Annual Financial Results 2020

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Annual Financial Results of 2020 will be released after the close of business on Tuesday April 20th, 2021 while the annual briefing to analysts will take place over a teleconference which has been scheduled for Wednesday April 21st , 2021  at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

 

The Annual Financial Report will be available on the Company website www.moh.gr (Investor Relations / Financial Information / Full Year Financial Reports) as well as on the ATHEX website www.athexgroup.gr after the close of business on Tuesday April 20th, 2021.

 

Maroussi, 26 March 2021

The Board of Directors