Greece – Real estate services – ΠΡΟΣΚΛΗΣΗ ΥΠΟΒΟΛΗΣ ΕΚΔΗΛΩΣΗΣ ΕΝΔΙΑΦΕΡΟΝΤΟΣ ΓΙΑ ΤΗΝ ΑΠΟΚΤΗΣΗ ΠΛΕΙΟΨΗΦΙΚΟΥ ΜΕΡΙΔΙΟΥ ΣΥΜΜΕΤΟΧΗΣ ΣΤΟ ΜΕΤΟΧΙΚΟ ΚΕΦΑΛΑΙΟ ΤΗΣ ΕΤΑΙΡΕΙΑΣ ΜΕ ΤΗΝ ΕΠΩΝΥΜΙΑ «ΕΛΛΗΝΙΚΕΣ ΑΛΥΚΕΣ Α.Ε.»

The «Hellenic Saltworks and Refineries S.A.» («Supervisory Authority») has decided to launch a two-phase international competitive procedure (the «Competitive Procedure») for the sale and transfer of shares that will correspond to a majority shareholding (at least 51%) of the share capital of the company with the name «Hellenic Saltworks S.A.» (the «Company»). The Company has the exclusive right to extract certain salts in Greece as referred to in the tender documents. More specifically, the Company has concluded the lease agreement with the Hellenic Republic (as the lessor) (the «Lease Agreement»), which provides, among other things: (A) the lease of extensions for use and extraction of the salts, against an annual rent equal to three percent (3%) of the value of the salt sold per year, in each saltworks (the «Rent»), (B) the use of the channels and pipelines connecting the saltworks with the sea or coastal areas which have not been granted, for the transport of seawater or brine, with increased salinity, (C) the use of the onshore or underwater channels, pipelines, works, installations, buildings and other constructions that relate to the uncontrolled extraction or transport by natural flow of seawater and (D) the right to repair/maintenance/restoration or improvement of the works, installations and buildings. The Lease Agreement is in force for the entire duration of the Company (today, until 31.12.2080). As part of the agreement, it is provided that the Supervisory Authority and the Preferred Investor who will be selected according to the competitive procedure and with whom the agreement will be concluded (the «Preferred Investor») will conclude a Share Purchase Agreement for the sale and transfer of the shares (the «Share Purchase Agreement»), as well as a Shareholders' Agreement with the Company (the «Shareholders' Agreement»). During the second phase of the competitive procedure, the possible amendment of the terms of the Lease Agreement (including the economic terms and the duration of the lease, which is estimated not to be less than 25 years from the signature of the amended Lease Agreement) will be evaluated, within the framework of the agreement, with the view to the changing character of the Company as a private and business entity.