30 Jun 2022

Regulated Information: Announcement of Business Developments

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that its wholly owned Cyprus based subsidiary under the legal name MEDIAMAX HOLDINGS LIMITED, entered into a private contract agreement with the company under the legal name PRIMOS MEDIA S.a.r.l. (Luxembourg based – subsidiary of an investment company) dated June 29th, 2022.

With the above agreement the sale and transfer from MEDIAMAX HOLDINGS LIMITED to PRIMOS MEDIA S.a.r.l. of the following were agreed:

  • 3,955,780 shares representing 50% of the share capital of the Cyprus based company NEVINE HOLDINGS LIMITED* which is the owner of 50,00001% stake in ALPHA SATELLITE TELEVISION S.A.

Following the above share transfer, the participation of each of the legal entities MEDIAMAX HOLDINGS LIMITED and PRIMOS MEDIA S.a.r.l. in the share capital of NEVINE HOLDINGS LIMITED equals 50%.

  • 8,571,382 shares representing 100% of the share capital of the Cyprus based company MARTIKORIO LIMITED* which is the owner of 24,99999% stake in ALPHA SATELLITE TELEVISION S.A.

The aggregate consideration amount for the above transactions was agreed at EUR 41,497,425.

The amount of EUR 41,497,425 has been fully paid to MEDIAMAX HOLDINGS LIMITED and the above described sale and transfer of NEVINE HOLDINGS LIMITED and MARTIKORIO LIMITED shares has been completed. Consequently, the direct and indirect participation of each of the legal entities MEDIAMAX HOLDINGS LIMITED and PRIMOS MEDIA S.a.r.l. in the share capital of ALPHA SATELLITE TELEVISION S.A. equals 50%.

Maroussi, 30 June 2022

The Board of Directors

 

(*) Prior to the completion of the above transactions, MARTIKORIO LIMITED and NEVINE HOLDINGS LIMITED were wholly owned subsidiaries of MEDIAMAX HOLDINGS LIMITED.