According to Law 3340/2005 and the decisions 3/347/2005 and 5/204/2000 of the Board of Directors of the Capital Market Commission, as in force and paragraphs 4.1.3.1. point e) and 4.1.3.6. of the Rule Book of the Athens Exchange, and following the Company?s Announcement made on 08.05.2009, Forthnet SA informs the investing public that it has received non-binding proposals from international private equity funds, which include, on the one hand, the commercial reasons for which the said investors would be interested in investing in the Company by participating in its share capital, as well as, an outline of their strategy for the Company.
The non-binding proposals received include indicative prices per share which are higher and lower than the closing market price on June 4th 2009 (euro 1.64), with the best price so far being higher than such closing price, but 5% to 15% lower than the subscription price of the previous rights issue (euro 2.57).
The said non-binding proposals and the indicative prices are based on specific financial assumptions and are subject to certain conditions, including the carrying out of a business, financial and legal due diligence, the finalization of the scheme and structure for the implementation of the suggested investment, as well as the granting of regulatory and other approvals.
At present, the Company?s Board of Directors is evaluating these proposals, while the Company points out that the submission of the above non-binding proposals does not mean that they will be accepted or that binding proposals will be submitted, or, if binding proposals are submitted and negotiations commence, that such proposals will be accepted and the relevant negotiations will be successful.
Finally, it is reminded that the Company has entered into strong confidentiality agreements with the aforementioned private equity funds, while it will inform the investing public of any further material developments in accordance with the legislation in force.