Following the Company's 2010 Financial Calendar and in accordance with the provisions of article 292 par. 4 of the Athens Exchange Regulation, management of 'Babis Vovos International Construction S.A.' announces that the Financial Results 2009 Conference Call was held on April 12, 2010. During the call, management analysed the Group's annual financial statements as these were published in the press, focusing on the income statement, the movement in NAV as well as going over the Group's new sale and leaseback agreements.
An overview of the Votanikos development was also given, a new legislative amendment is expected to be voted in parliament by the end of April or beginning of May 2010 concerning the Joint Redevelopment of Votanikos and Alexandras Avenue. A new building permit for the project should be issued in August of 2010 and construction should begin in September of the same year, enabling the project to be completed coldshell by early 2011. Finally, management is in advanced negotiations regarding the sale of the Poros tourist development, and is also discussing the construction of a new office development in one of the main avenues of Athens.