Χ. ΡΟΚΑΣ ΑΒΕΕ
Announcement of request of IBERDROLA RENOVABLES, S.A. for the squeeze-out of the remaining shares of the Company C. ROKAS S.A.
IBERDROLA RENOVABLES, S.A. informs that the Hellenic Capital Market Commission approved in its meeting on 23 January 2009 the request of IBERDROLA RENOVABLES, S.A. for the squeeze-out of the remaining shares of the Company C. ROKAS S.A. (hereinafter ?ROKAS?), pursuant to article 27 of Law 3461/2006 and the resolution of the Board of Directors of the Hellenic Capital Market Commission nr. 4/403/08.11.2006. The Hellenic Capital Market Commission has set the 16th of February 2009 as the date of suspension of trading of ROKAS? shares in the Athens Exchange.
The squeeze-out right constitutes the obligation of IBERDROLA RENOVABLES, S.A. to pay in cash the remaining shareholders of ROKAS the amount of 16 EUROS for every ordinary share and the amount of 11 EUROS for every preferred share through (a) the ?Hellenic Exchanges S.A.?, so that it credits the related money clearing accounts of the operators for those beneficiary shareholders of ROKAS that have granted to the operators the relevant authorization for the collection of payment and (b) the Deposit and Loan Fund for the beneficiary shareholders of ROKAS that have not authorized the operators accordingly. The payment of the abovementioned purchase prices will take place three (3) business days after the completion of the clearing of the transactions made on the last day of trading of the shares of ROKAS (i.e., on February 16, 2009). It is furthermore mentioned that IBERDROLA RENOVABLES, S.A. will assume payment of the 0.08% clearance duties levied in favor of Hellenic Exchanges in relation to the registration of the off-exchange transfer of the shares, which would otherwise be payable by the shareholders of ROKAS but will not assume the payment of the sales transfer tax 0.15% imposed on the transfer value, in accordance with Article 21 of Law 3697/2008, which burdens the off-exchange transfers of shares that have been acquired by the shareholders of ROKAS until 31 December 2008.
The squeeze-out right constitutes the obligation of IBERDROLA RENOVABLES, S.A. to pay in cash the remaining shareholders of ROKAS the amount of 16 EUROS for every ordinary share and the amount of 11 EUROS for every preferred share through (a) the ?Hellenic Exchanges S.A.?, so that it credits the related money clearing accounts of the operators for those beneficiary shareholders of ROKAS that have granted to the operators the relevant authorization for the collection of payment and (b) the Deposit and Loan Fund for the beneficiary shareholders of ROKAS that have not authorized the operators accordingly. The payment of the abovementioned purchase prices will take place three (3) business days after the completion of the clearing of the transactions made on the last day of trading of the shares of ROKAS (i.e., on February 16, 2009). It is furthermore mentioned that IBERDROLA RENOVABLES, S.A. will assume payment of the 0.08% clearance duties levied in favor of Hellenic Exchanges in relation to the registration of the off-exchange transfer of the shares, which would otherwise be payable by the shareholders of ROKAS but will not assume the payment of the sales transfer tax 0.15% imposed on the transfer value, in accordance with Article 21 of Law 3697/2008, which burdens the off-exchange transfers of shares that have been acquired by the shareholders of ROKAS until 31 December 2008.