GUIDE-LINES REGARDING THE DISCLOSURE OF REGULATED INFORMATION TO THE ISSUER BY LIABLE INDIVIDUALS OR LEGAL ENTITIES PURSUANT TO LAW 3556/2007
The Company Corinth Pipeworks S.A., hereby, informs Shareholders regarding their obligation for the disclosure of significant participations deriving from articles 9, 10, 11 and 14 of Law 3556/2007 as well as from Decision No 1/434/3.7.2007 of the Hellenic Capital Market Commission Board of Directors.
More specifically, according to article 9 of Law 2556/2007, Shareholder who acquires or disposes shares incorporating voting rights, and as a result of the acquisition or the disposal, the voting rights he possesses reaches, exceeds or falls below the limit of 5%, 10%, 15%, 20%, 25%, 1/3, 50% and 2/3, is obliged to inform the issuer with respect to his percent holdings in voting rights as a result of the acquisition or the disposal.
Shareholder, who acquires such a percentage of voting rights to exceed 10%, is obliged to proceed to a relevant disclosure and in every case when an equal to or higher than 3% change of his holding in voting rights occurs.
According to article 10 of the Law, the disclosure obligation is also applicable for every individual who acquires disposes or exercises voting rights in such cases where:
- voting rights are held by a third individual with whom the aforementioned individual has signed an agreement, based on which is obliged through coordinated exercise of the voting rights they hold, to adopt a common policy as to the Company’s management,
- voting rights are held by a third individual with whom the aforementioned individual has potentially signed an agreement, which predicts the transfer of voting rights by exchange,
- voting rights are incorporated in shares submitted as pledge to the aforementioned individual, under the condition that this individual controls the voting rights and has declared his/her intention to exercise them.
- voting rights are incorporated in shares of which lifelong tenant is the aforementioned individual,
- voting rights are incorporated in shares submitted to the aforementioned individual and the latter may exercise according to his/her judgment, as long as there are no special instructions by the shareholders,
- voting rights are held by a third individual under his/her name, but are on the account of the aforementioned individual,
- voting rights that the aforementioned individual may exercise as an assignee, as long as one can exercise his voting rights according to his judgment, without any special instructions by the shareholders,
- in the case of an investment company, voting rights that are held, acquired or disposed by the mutual fund, they are also managed by the same company.
According to article 11 of Law 3556/2007, the disclosure obligation of article 9 includes, also holds for the individuals that acquire or dispose securities directly or indirectly through a third individual.
Regarding the Issuer and pursuant to articles 9, 10 and 11 of the Law, as long as they acquire or hold Company’s voting rights, are obliged to proceed with the disclosure of the significant change of their participation in the Company’s voting rights, simultaneously to the Company and the Hellenic Capital Market Commission, as soon as possible or at the latest within three (3) trading days commencing from the date that the relevant obligating disclosure came to force.
The disclosure of the Issuer is made by submitting the relevant notification form, legally signed, to the address 57 Ethnikis Antistaseos, Building B, 15231 Chalandri. Additionally, the submission of the relevant form is made by fax to: 210 67 87 500 (attention to: Shareholders Services Department), verifying its reception at the following phone number: 210-6787680.
The legally signed notification form is submitted to the Central Protocol office of the Hellenic Capital Market Commission, at the address 1 Kolokotroni Str. and Stadiou Str., 105 62, Athens and it should be addressed to the Directorate of Public Offerings and Supervision of Listed Companies of the Hellenic Capital Market Commission with the indication “notification of significant changes in voting rights as per Law 3356/2007”.
The submission can also be submitted via fax to ++ 30 210 33.77.243. In this case, the form should be accompanied by a cover letter including the personal information of the sender, his/her signature, a contact number and the number of pages sent, verifying their delivery from the qualified protocol service.
A notification form is considered legally undersigned when it is signed by the person liable himself or any other person legally authorized to do so. In the case when the person liable is a legal entity, the form is signed by his legal representative.
It is noted that the qualified authority for the auditing of the informing obligations is the Hellenic Capital Market Commission and the relevant notification form has been posted on its website address (www.hcmc.gr
It is noted that as from 30.06.2007 (starting date of the new law), and no later than the (3) months following that date, that is until 30.09.2007, the liable persons that hold a significant participation in voting rights, shareholders or not, should submit a disclosure statement to the issuer about the percentage of voting rights they own as well as the percentage of shares owned out of the total share capital, according to articles 9 and 10 of the Law, unless they have already proceeded with such a disclosure prior to this date pursuant to the previously existed Presidential Decree 51/92.
It is noted that, as per article 26 of the law, in case of violation of the law provisions and the decisions issued under this, the HCMC is liable to reprimand or impose a fine amounting up to 1,000,000 euros. In the same article of the law, the factors taken into consideration when calculating the fine should be mentioned.
For further information, the shareholders can contact the company’s Shareholders Services Department at the phone number: 210-6787680, Head: Mrs. Sofia Zairi.
NOTIFICATION FORM TR-1