Press release of Stock Markets Steering Committee of Hellenic Exchanges - Athens Stock Exchange


 

November 25, 2016

 

Stock Markets Steering Committee of Hellenic Exchanges
Athens Stock Exchanges

The Stock Markets Steering Committee of Hellenic Exchanges - Athens Stock Exchange, during today's session, approved:

  • The acquisition of a market making license for the ATHEX Member "EUROBANK EQUITIES S.A.", for market making on the shares of the listed company "FOURLIS S.A." and set of the start date of market making obligations on the aforementioned shares for Thursday, November 1st 2016.
  • The acquisition of a market making license for the ATHEX Member "EUROXX SECURITIES S.A.", for market making on the shares of the listed company "FOURLIS S.A." and set of the start date of market making obligations on the aforementioned shares for Thursday, November 1st 2016.
  • The modification of Resolution 22, concerning the exception, under specific circumstances, of the maximum daily fluctuation limits of the pre-agreed trades with same day settlement.

Moreover, the Stock Markets Steering Committee of Hellenic Exchanges-Athens Stock Exchange (ATHEX) was informed about the forthcoming cross-border merger between "CORINTH PIPEWORKS HOLDINGS S.A." and "CENERGY S.A." (Cenergy will acquire Corinth Pipeworks).

The completion of the merger depends both upon the approval of the General Meetings to be held by the companies and the completion of all related formal procedures. According to an announcement by "VIOHALCO", dated September 26th 2016, the merger is expected to be completed during December 2016.

Assuming the merger will be approved by the General Meetings, between "CORINTH PIPEWORKS HOLDINGS S.A." stock will be suspended from trading during December 2016."CORINTH PIPEWORKS HOLDINGS S.A." announced on November 17th 2016 that it will hold a General Meeting on December 8th 2016.

Consequently, the ATHEX Derivatives Market will support the merger between Corinth Pipeworks and Cenergy on the Derivatives Market as follows:

  1. All Corinth Pipeworks Future series will be forced to expire on December 9th 2016 irrespectively of the existence of any open positions, even overdue. Open positions will settle normally, according to product specifications, i.e. physical delivery of stocks based on the last published reference price, which will be the closing price of December 9th 2016.
  2. Any obligations, e.g. market making obligations, related to the specifications of any Corinth Pipeworks stock futures series, remain valid until expiration.
  3. ATHEXClear will exercise all borrowing positions that remain open on December 8th 2016. As a result, trading on lending products will not be available starting from December 9th 2016.
  4. In case the General Meetings, to be held by the companies, do not approve the merger, the Corinth Pipeworks stock and corresponding derivative and lending products will keep trading and clearing normally until further notice.

 

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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 Derivatives 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.

Its shares are traded on the Main Market of the Athens Exchange (Symbol: EXAE). More information about the Athens Exchange Group, can be found in the links provided here, website, company profile and overview of the market.