Lamda Development adds new player in Hellinikon project

Lamda Development on Friday announced another important addition to the group formed ahead of the start of works in the Hellinikon project.

Lamda said that the board of directors of the company resolved the sale of the total number of remaining own shares held by the company, to the company under the commercial name 'ORYMIL SA'.

More specifically, the board - following a process for the expression of interest and submission of tenders for the achievement of the best possible private placement of 546,167 own shares (corresponding to approximately 0.685 pct of the total shares and voting right in the company) at 7.27 euros per share conducted by the investment services company under the commercial name 'AXIA Ventures Group Ltd' - resolved the sale to ORYMIL, highest bidding company the total number of own shares, after the completion of the aforementioned process on October 16.

As regards the price of the transaction, it is resolved that the amount should be fixed to 7.27 euros per share, in reference to the result of the aforementioned process.

Finally, it is noted that, considering the declared shareholding connection of Odysseus Kyriakopoulos, independent non-executive member of the board of directors of the company, with ORYMIL, this transaction is related to the scope of articles 99 seq. of Greek law 4548/2018. Therefore, it has been deemed appropriate this transaction be put to the attention of the independent audit company Deloitte.

(ANA MPA)