Michaniki Russia: Completion of the increase of the capital share to 20 m. Euro - New increase on capital share 20 million Euro

MICHANIKI S.A.

Michaniki Russia: Completion of the increase of the capital share to 20 m. Euro - New increase on capital share 20 million Euro

The Group of Companies MICHANIKI announces the completion of the 4th increase on capital share of the subsidiary company LLC MICHANIKI RUSSIA to 20 m. euros.
After the last increase, the capital share of the company reaches the 60 m. euros and has been portioned according to the following:
MICHANIKI SA: 65%
ΒΑLKAN EXPORT S.A: 25%
HELLENIC PIPEWORKS S.A: 6,67%
MARMARA KAVALAS S.A: 3,33%
It has also been decided the new increase on capital share at 20 m. euros so as the capital share of the company LLC MICHANIKI RUSSIA will amount in 80 m. euros.