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4.1.2023

ANNOUNCEMENT FOR SIGNING OF AGREEMENT " ETEM & COSMOS ALUMINIUM"

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ANNOUNCEMENT

 

“ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.” (hereinafter ELVALHALCOR) announces, according to article 17 par. 1 of the Regulation (ΕU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, that on May 6th, 2022, a strategic cooperation agreement was signed between the non-listed company under the trade name «ΕΤΕΜ Commercial and Industrial Light Metals Societe Anonyme» (hereinafter «ΕΤΕΜ»), which is held by 80% by ELVALHALCOR, and the company under the trade name «COSMOS ALUMINIUM A.E.» (hereinafter «COSMOS ALUMINIUM»), by which the parties agreed on the basic terms of the merger by absorption of ETEM by COSMOS ALUMINIUM. As a result of the corporate transformation, there will be a minority stake in the share capital of COSMOS ALUMINIUM, of the shareholders of ETEM existing at the time of conclusion of the merger.

The implementation of the above intended transaction will be, in any case, subject to the prior fulfillment of the prerequisite actions and conditions, including the completion of a successful legal, financial, etc. due diligence of the companies ETEM and COSMOS ALUMINIUM.

The contracting parties will seek the finalization of the terms of the intended transaction, the conclusion of the final agreements and the completion thereof, within a period of six (6) months, starting from the above date of signing of the aforementioned agreement.

ELVALHALCOR will inform the investor community on any significant development.

 

 

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