In a formal announcement to the Athens Stock Exchange, it was confirmed that shareholders representing 90.16% of Metlen AE’s share capital have accepted the public offer. This figure includes shares directly held by Mr. Evangelos Mytilineos as well as by his affiliated entities: Frezia Ltd, Kilteo Ltd, and Melvet Investments Ltd. It is noted that a minimum acceptance threshold of 90% was required for the successful completion of the process.
Additional details were also disclosed:
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On August 1st, former shareholders of Metlen AE will receive the corresponding shares in Metlen PLC to which they are entitled.
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Following the outcome of the Public Offer, Metlen PLC will exercise its legal squeeze-out right, requiring all remaining Metlen AE shareholders to transfer their 14,083,937 shares to Metlen PLC. In exchange, shareholders may choose between receiving one Metlen PLC share for each Metlen AE share held, or a cash payment of €39.62 per share.
Upon conclusion of the squeeze-out process, Metlen PLC will own 100% of the voting rights in Metlen AE. Consequently, the company will convene a General Meeting of Metlen AE shareholders to approve the submission of an application to the Hellenic Capital Market Commission (HCMC) for the delisting of Metlen AE shares from the Athens Stock Exchange.
Until trading is suspended, the daily price fluctuation limits for Metlen AE shares are expected to be set at ±10% from their opening price.
