The agreement was signed yesterday for the transfer of 51% of the shares of KEGO S.A., from Apostolos Kephalas, Rodolfos Gogorosis and Christos Gogorosis to :
a. NIREUS S.A.: 20%.
b. TEMBLE TRADING LTD, interests of Mr. A. Belles: 20%.
c. NORTH PRINCIPAL INVESTMENT FUND LTD: 11%.
Following the completion of the legal and economic due diligence, which was a precondition for the completion of the transaction, the participating sides, due to finding of doubtful claims which lead to a reduction on the 2006 profits of the company, decided to re-determinate the amount that is to be provided by the buyers to 1,89 euros per share instead of 2 euros per share that was agreed according to the preliminary agreement of 13/01/2007. The transaction for the transfer of 51% of the KEGO shares is to be materialized today.
In the immediately following time period, as it is foreseen by the law, a public offer is to be submitted for the acquisition of the total of shares of KEGO S.A.