December 20^th, 2018

 

Listings and Market Operation Committee - Athens Stock Exchange (ΑΤΗΕΧ)

 

Following the approval by the Capital Market Commission of the Information Bulletin regarding the initiation of the Tender Offer of TITAN CEMENT INTERNATIONAL SA (TCI) for the acquisition of the shares of TITAN SA, together with the listing of TCI's shares in EURONEXT (Brussels & Paris) and in ATHEX, ATHEX announces the handling procedure of the Stock Futures Derivative Products on the share of TITAN SA, which include the following phases.

 (a) In the first phase, a halt of introduction of new series will be performed, as well as, the deletion of the existing Derivatives series, for the series in which there are no open positions, in accordance to Article 2.6.11 of the ATHEX Rulebook, with implementation at the end of the trading session on 21/12/2018 (derivatives expiration date ). If there are series with open positions on the above date, these series will continue to be traded until the Tender Offer process is completed.

From the starting date of the Tender Offer, the Market Makers Obligations will be lifted in TITAN SA and in the derivative product of TITAN SA., for the period of acceptance of the Tender Offer and until its completion, in order to avoid any difficulty in fulfilling their obligations.

(b) In the second phase and only in the case of successful completion of the Tender Offering, the series of Derivative Products, which at the previous stage of the process was not deleted due to the maintenance of an open position, will be deleted according to the Article 2.6.12 of the ATHEX Rulebook. In addition, according to the Article 2.6.13 of the ATHEX Rulebook, a suspension of Securities Lending Products on the shares of TITAN SA will take place, along with the obligatory exercise of the open positions on those Products. The deletion of Derivatives and the obligatory exercise will take place on the completion date of the Tender Offer, in order to complete their clearing and settlement procedure till T + 2 (two days after the completion of the Tender Offer).

Regarding the participation of the shares of the company TITAN CEMENT COMPANY S.A. to the Indices of the ATHEX Market, it will be treated by taking into consideration applicable rules to ensure the smooth operation of the market.

More specifically, subject to the successful completion of the Tender Offering, the shares of TITAN CEMENT INTERNATIONAL S.A. (TCI) will replace the shares of TITAN CEMENT COMPANY S.A. in the indices it participates before the commencement of trading on the first day of trading of TCI on ATHEX.

 

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About Athens Exchange Group

The Athens Stock Exchange since its establishment in 1876, consistently participate in the financial and business developments in the country.

Athens Exchange Group (ATHEX Group), provides support to the Greek Capital Market. ATHEX Group operates the organized Equities and Derivatves markets, the alternative market and performs clearing and settlement of trades.

The Athens Stock Exchange, through its markets, offers solutions and financing tools to businesses, expands investor choice by providing a safe, stable and easy environment in full alignment with international practices and the European regulatory framework. It has held the ISO 22301:2012 international standard for Business Continuity, for all its companies, including all its operations as well as the products & services it provides.

In a period that the role of stock markets in exploring alternative ways of financing business, at a European level, is significantly enhanced, the Athens Exchange Group has taken a series of initiatives to highlight the attractiveness of the Greek Capital Market and the Greek companies to the international investment community and expand the variety of investment opportunities.

Its shares are traded on the Main Market of the Athens Stock Exchange (Symbol: EXAE).

The profiles of the ATHEX Group and its markets can be downloaded from the link. More information can be found in the website www.athexgroup.gr.