ANNOUNCEMENT FOR BUSINESS UNIT SPIN - OFF

ANNOUNCEMENT FOR BUSINESS UNIT SPIN - OFF


The societe anonyme under the name "INFORM P. LYKOS S.A. PROCESSING & DEVELOPMENT OF PRINTED INFORMATION SYSTEMS" announces to the investors that on 20.06.2019 the Board of Directors decided to start the spin - off process of the production, processing, development and trading sector of printed information systems and its contribution to a new 100% subsidiary company established for this purpose.

 

The business unit spin - off and its contribution to the new company will be carried out in accordance with the provisions of Law 4601/2019, Law 4548/2018 and the article 54 of Law 4172/2013.

 

The balance sheet date has been set as 30.06.2019.

 

The intention of the company is to complete the spin - off within fiscal year of 2019.

 

The spin - off essentially aims at the organizational segregation of the Group's business activities and will not affect its financial data as the new subsidiary company formed for this purpose will be fully consolidated, as the Group will own its 100%.

 

The completion of the establishment of the new company with the contribution of the business unit spin - off will be finalized after the undertaking of the appropriate decisions by the Board of Directors, based on the consent of the General Meeting of the shareholders of the company that will finalize the process and will eventually approve the intended spin - off, and after obtaining the approval of the competent authorities for this purpose.

 

About INFORM

 

INFORM was founded in 1897, it has been listed on the Athens Stock Exchange since 1994 and today it has a leading presence in Central and Eastern Europe in the field of Information Management, with production units in Greece, Romania and Albania. It is internationally active in the field of document management, security brochure and Business Process Outsourcing, providing printing and invoicing services, electronic presentation of accounts and print management for Banks, Telecommunications, Public Sector and Industrial / Commercial Companies and currently employs approximately 380 employees.

INFORM is a member of the Austria-based AUSTRIACARD Group, an international group active in Information Management under the brand INFORM, as well as in the digital security sector under the brand AUSTRIACARD with two additional smart card production units, in payment, identification, transport and access, etc. in Austria and Romania, certified by international organizations such as Visa, MasterCard, Diners, etc., as well as five smart card personalization centers in Greece, Austria, Poland, Romania and Turkey.

For more Information, visit www.austriacardag.com & www.lykos.gr


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