Approval of the demerger of “HELLENIC PETROLEUM S.A.” by way of hive-down of its refining, supply and trading of oil products and petrochemicals sector and the establishment of a new company.
“HELLENIC PETROLEUM S.A.”, with General Commercial Registry (GEMI) No 296601000 (hereinafter the “Demerged Entity”), announces that following its EGM resolution held on 10.12.2021, the demerger by way of hive-down of its refining, supply and trading of oil products and petrochemicals sector and the establishment of a new company (hereinafter the “Demerger”) was approved, by virtue of the decision of the Ministry of Development and Investments No 142903/03.01.2022. The Demerger took place pursuant to the provisions of articles 57 and 59-74 of Law 4601/2019 and Law 4548/2018, as in force and was registered on 03.01.2022 in GEMI with Registration Number 2767913.
Upon the approval of the Demerger, the following events occur:
a) A new entity was incorporated under the name ““HELLENIC PETROLEUM SINGLE-MEMBER SOCIETE ANONYME REFINING, SUPPLY AND SALES OF OIL PRODUCTS AND PETROCHEMICALS” (hereinafter the “Beneficiary Entity”), with GEMI Registration No 162093601000 and trade name “HELLENIC PETROLEUM R.S.S.O.P.P. S.A.” and its Articles of Association were approved. The decision of approval of the new entity’s incorporation and Articles of Association was registered on the same day at GEMI, with Registration No 2768007/03.01.2022.
b) The Demerged Entity became the sole Shareholder of the Beneficiary Entity “HELLENIC PETROLEUM R.S.S.O.P.P. S.A.”, by acquiring all 130,100,000 common, registered shares issued by the Beneficiary Entity, with a nominal value of €10 each.
c) Articles 1 (Name), 4 (Scope) and 19/paragraph 4 (Board of Directors) of the Articles of Association of the Demerged Entity were amended in accordance with the resolution of the EGM held on 10.12.2021. The new corporate name of the Demerged Entity is "HELLENIC PETROLEUM HOLDINGS SOCIETE ANONYME” and its trade name: "HELLENIC PETROLEUM HOLDINGS SA".
It is noted that, following the completion of the Demerger, the shares of the Demerged Entity will remain listed on the Main Market of the Athens Stock Exchange.