Athens, 5 March 2021 – With the motto “Planting together, giving life”, the MOTOR OIL Group conducted a pilot reforestation project in Kineta, in the Municipality of Megara. As part of the effort, 6,500 trees were planted around the Panorama 3 settlement, in an area of 10 hectares designated for reforestation after the catastrophic fires of 2018.
The project was completed within 14 days from the day the crew set up operations in the area. Some of the species planted were: Aleppo pine, cypress, oak, mastic, stone pine and others, in accordance with forestry authority specifications. Before planting, the area underwent a large-scale clearing effort to remove quantities of burnt trees and waste that had accumulated there after the fire and which were significantly harming the environment. The waste was collected and deposited for recycling.
The reforestation site was selected after on-site surveys in the area with the help of the Megara Forestry Department and the Attica Reforestation Directorate. Expert scientists prepared a reforestation plan and the project began after the protocol for the work was signed. The entire process was also assisted by the Attica Forests General Directorate and the Decentralised Forest Management Service. Based on the management plan, Motor Oil has taken responsibility for watering and looking after the trees for two years.
Yannis V. Vardinoyannis, Vice-Chairman and Managing Director, said: “Forest ecosystems are the life-giving ‘lungs of the earth’ while offering the most valuable benefits for humans and the environment. That’s why we wanted to make a practical contribution to restoring the forest lands in the Kineta area which were destroyed by the fires of 2018. To that end, we decided initially to undertake the reforestation at the Panorama 3 settlement on a pilot basis.
“As we completed the project, we had the opportunity to speak with local residents and organisations, who expressed their satisfaction with this initiative in the warmest possible terms. We feel the same sense of satisfaction because we believe that by planting together, we are giving life. The local residents’ desire to see their area green again is starting to be realised,” he continued.
Further to the announcement dated January 8th, 2021 MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that MEDSYMPAN LIMITED, which is a wholly owned subsidiary of the subsidiary CORAL A.E., completed the transaction for the acquisition of 75% of the shares issued by APIOS D.O.O. a company registered in Croatia.
APIOS D.O.O. was founded in 2009 and operates a network of retail service stations in Croatia comprising of 26 sites under the APIOS D.O.O. trade-mark and a market share equal to 3%.
The value of the transaction was Euro 11.2 million approximately.
Maroussi, 20 January 2021
The Board of Directors
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (the Company) informs the investment public that the Board of Directors of OPTIMA BANK S.A. certified the cash share capital increase for an amount of Euro 80,139,546 through the issuance of 3,762,420 new shares according to the terms decided by the Extraordinary General Assembly of the shareholders of the Bank dated 25 November 2020. The share capital increase of the Bank was effected without the participation of the subsidiary of the Company under the legal name IREON INVESTMENTS LTD. Hence, the participation of IREON INVESTMENTS LTD in OPTIMA BANK S.A. reduced to a percentage lower than 15%.
Maroussi, 19 January 2021
The Board of Directors
Pursuant to article 2 of the Decision 3/347/12.7.2005 of the Hellenic Capital Market Commission, it is hereby announced that the Board of the Company in its meeting dated 18 January 2021 reorganized as a Body Corporate as follows:
Vardis J. Vardinoyannis – Chairman, Non-Executive Member
Yannis V. Vardinoyannis – Vice Chairman and Managing Director, Executive Μember
Demosthenes N. Vardinoyannis – Non-Executive Μember
George P. Alexandridis – Νon Executive Μember
John N. Kosmadakis – Deputy Managing Director, Executive Μember
Petros Τ. Tzannetakis – Deputy Managing Director, Executive Μember
Michael-Matheos J. Stiakakis – Executive Μember
Theofanis Chr. Voutsaras – Executive Μember
Niki D. Stoufi – Non-Executive Member
Antonios Th. Theocharis – Νon Executive / Independent Μember
Anastasios-Elias Chr. Triantaphyllidis – Νon Executive / Independent Μember
Panayotis J. Constantaras – Non-Executive / Independent Member
The term of the Board expires on the next Annual Ordinary General Assembly of Company shareholders.
Maroussi, 19 January 2021
The Board of Directors
Further to the announcements dated December 22nd, 2020 and January 5th, 2021 MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (henceforth ‘‘the Company’’), hereby announces that the subsidiary company IREON INVESTMENTS LTD transferred 61,500 shares of OPTIMA BANK S.A. at a price of Euro 18.35 per share to related with the Company persons.
Furthermore, IREON INVESTMENTS LTD transferred 25,000 shares of OPTIMA BANK S.A. at the same price of Euro 18.35 per share to third parties.
Maroussi, 13 January 2021
The Board of Directors
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that MEDSYMPAN LIMITED which is a wholly owned subsidiary of the subsidiary CORAL A.E., entered into a Share Purchase Agreement (SPA) for the acquisition of 75% of the shares issued by APIOS D.O.O. a company registered in Croatia.
APIOS D.O.O. was founded in 2009 and operates a network of retail service stations in Croatia comprising of 26 sites under the APIOS D.O.O. trade-mark and a market share equal to 3%.
The value of the transaction will be in the magnitude of EURO 10 million.
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. will inform the investment public with regards to the development of the above transaction with a subsequent announcement.
Maroussi, 8 January 2021
The Board of Directors
According to article 2 of the Decision 3/347/12.7.2005 of the Hellenic Capital Market Commission, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. announces the creation of a General Finance Division of Commercial Subsidiaries and the hiring of Mr. Manos Christeas for the position of General Manager. Mr. Christeas joined MOTOR OIL in December 2020.
Maroussi, 07 January 2021
The Board of Directors
Following its previous announcement dated 22nd December 2020, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (The Company) hereby informs the investment public that the 10 day deadline for the submission of a request for a General Meeting to decide on the special permission allowing its subsidiary IREON INVESTMENTS LTD (the Seller) to proceed with a sale of up to 75,250 of OPTIMA BANK S.A. shares, lapsed on 31st December 2020.
The said special permission is valid for six months and within this period IREON INVESTMENTS LTD can proceed with the sale of up to 75,250 of OPTIMA BANK S.A. shares at a price of Euro 18.35 per share. The buyers of the said 75,250 OPTIMA BANK S.A. shares will be related to MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. persons, as these persons are defined in the articles 99 until 101 of the Law 4548/2018. The above number of 75,250 shares corresponds to 2% of the share capital of OPTIMA BANK S.A.
The Board of MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. set the offered price at Euro 18.35 per OPTIMA BANK S.A. share, having taken into consideration the fairness opinion report on OPTIMA BANK S.A. dated 30th of October 2020 (available in the Greek language on the Company website www.moh.gr at the particular option News / 2020) conducted by the audit firm Grant Thornton. The above mentioned price of Euro 18.35 per share is considered in the Grant Thornton report as a true and fair price for the Company and its shareholders who are not related persons including the minority shareholders.
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. will inform the investment public regarding the progress of the above-mentioned transactions.
The present announcement is issued in accordance with paragraph 2 of the Article 101 of the Law 4548/2018.
Maroussi, 5 January 2021
The Board of Directors
Following the announcements dated 17/11/2020 and 30/11/2020, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (henceforth “the Company”) hereby announces that the subsidiary company IREON INVESTMENTS LTD transferred 178,715 shares of OPTIMA BANK S.A. at a price of Euro 18.35 per share to related with the Company parties. The above number of 178,715 shares corresponds to 4.75% of the share capital of OPTIMA BANK S.A.
Furthermore, IREON INVESTMENTS LTD transferred 441,965 shares of OPTIMA BANK S.A. at the same price of Euro 18.35 per share to third parties. The above number of 441,965 shares corresponds to 11.75% of the share capital of OPTIMA BANK S.A.
Following the above, the participation of IREON INVESTMENTS LTD in OPTIMA BANK S.A. has been reduced to 29.42%.
It is noted that the transfer of an additional percentage of 3% (112,873 shares at a price of Euro 18.35 per share) is pending approval by the competent authorities which, if granted, will result in the reduction of IREON INVESTMENTS LTD participation in OPTIMA BANK S.A. to 26.42%
Maroussi, 31 December 2020
The Board of Directors
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (The Company) hereby announces that its Board of Directors in its meeting dated 10 December 2020 decided to grant a special permission allowing its subsidiary IREON INVESTMENTS LTD (the Seller) to proceed with a sale of up to 75,250 of OPTIMA BANK S.A. shares at a price of Euro 18.35 per share. The said 75,250 shares correspond to 2% of the share capital of OPTIMA BANK S.A. and the buyers will be related to MOTOR OIL (HELLAS) S.A. CORINTH REFINERIES S.A. persons, as these persons are defined in the articles 99 until 101 of the Law 4548/2018.
The sale of the above shares is effected in the context of the further divestment of the MOTOR OIL HELLAS S.A. Group from OPTIMA BANK S.A.
The Board of MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. with its decision dated 10 December 2020, having taken into consideration the fairness opinion report on OPTIMA BANK S.A. dated 30 October 2020 conducted by the audit firm Grant Thornton, set the offered price at Euro 18.35 for each OPTIMA BANK S.A. share. The price of Euro 18.35 per share is termed in the Grant Thornton report as a true and fair price for the Company and its shareholders who are not related persons including the minority shareholders since this price falls within the price range of comparable values mentioned in the report (available in Greek language on the Company website www.moh.gr at the particular option News / 2020).
According to the Law 4548/2018 the special permission granted by the Board of MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. for the completion of the transactions is valid for six (6) months.
This announcement is issued in accordance with the paragraph 3 of the Article 100 of the Law 4548/2018.
Maroussi, 22 December 2020
The Board of Directors
Grant Thornton_Fairness Opinion on the Optima Bank S.A. Shares (available in Greek Only)
