The Board of Directors of Elmec Sport SA announces that according to the information received today May 8th from the main shareholders Sam Fais and Lucy Fais, they have agreed with the company "Homeric Department Stores Holdings S.A." the acquisition from the latter of 28.713.620 shares or 51,82 % of the total share capital of Elmec Sport SA at the price of 3 euro per share. The completion of the agreement is to be finalized with the respective approvals by the authorities. Moreover, it has been agreed between the parties involved that Elmec Sport SA is to acquire the minority interests of its subsidiaries Factory Outlet SA, Factory Outlet Airport SA and Ipirotiki SA.
The company "Homeric Department Stores Holdings S.A." is controlled by Laskarides Group of Companies. The Fais family members have decided to re-invest in Homeric DS Holdings SA and after the conclusion of the exchange, Laskarides Group of Companies will control 76% of the share capital of "Homeric Department Stores Holdings S.A." and Mr S. Fais and Mrs L. Fais 24%. The main shareholders expect that the new corporate scheme will not only continue the current successful course of Elmec Sport Group of Companies, but also will add new momentum and benefits for the shareholders, the employees and the customers of the company.
According to the information received from the main shareholders Sam Fais and Lucy Fais, it is mentioned that after the completion of the acquisition of the 51,82% of the share capital of Elmec Sport S.A. by the Company "Homeric Department Stores Holdings S.A." the latter will proceed to a public offering in order to acquire the 100% of the share capital, as required by the relevant legislation.