Iran’s intention to acquire shares of ELPE (HELLENIC PETROLEUM) through a stock exchange

by on 13 September 2019

ATHENS – Nikos Paschos

HELLENIC PETROLEUM SA (ELPE) today announced the following.

Announcement following reports that have seen in recent days the publicity regarding the sale of shares by TAIPED SA.

1. The possible disposal of shares of HELLENIC PETROLEUM SA that will be the decision and action of our shareholder TAIPED SA. and not our company. Such disposal shall be made in accordance with the procedures and legal framework governing the operation and utilization of such shareholder’s portfolio.

2. In view of HELLENIC PETROLEUM SA has not so far received information from its above shareholder about the initiation of its shareholding process, received, upon our request and a letter from the Capital Market Commission, information from its aforementioned shareholder, according to which “HRADF has evaluated, inter alia the possibility of brokerage of its participation in HELLENIC PETROLEUM SA

It is recalled that ELPEs owe hundreds of thousands of euros to Iran for oil purchases in the past.

Depending on the final decisions to be taken by the Fund’s Board of Directors, the individual characteristics of any such disposal will be specified in due course.

Please note that no decision has been made as to the exact percentage of the bid, the bid price or the possible discount.

Should an obligation arise under the existing legislation, the investing public will be informed immediately, “the company announcement concludes.

Αccording to Iranian sources, the interest in the stock sale of the HELLENIC PETROLEUM SA (ELPE)  shareholders will be very high.