PRESS RELEASE
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Tuesday, November 24th, 2015 |
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PRESS RELEASE |
Athens Exchange announces the implementation process for the necessary adjustments to all ATHEX Market Indices in view of the forthcoming recapitalization of Greek Banks aiming to simplify portfolio management from the institutional investors' side, as well as reducing transaction costs.
- The weight of the relevant constituent bank in the index will "freeze" after the close of business of the day prior the new shares start of trading (through the introduction of the new outstanding number of shares with simultaneous change of the free float for achieving a neutral effect on the weight).
- On T + 5 after the new shares start of trading, where all information from issuer banks and shareholders will be available, the calculation of the new dispersion of each company shares will take place and all indices will be adjusted to the free float actual level.
Athens Exchange will, with separate announcement for each company and index, announce the free float figures referred to under the first paragraph that will be used for the calculation of the indices.