New CEO

Cenergy Holdings announces that the Company's Board of Directors decided on September 23, 2020 to adopt a single CEO structure instead of the current structure with two co-CEOs, and to appoint Mr. Alexios Alexiou as Chief Executive Officer of the Company, effective September 23rd, 2020.

Mr. Ilias Bekiros will no longer act as co-CEO and member of the Executive Management of Cenergy Holdings, but will retain his position as General Manager of Corinth Pipeworks SA, the steel pipes segment of the Company.

Consequently, the duties of the Executive Management will be carried out by its three remaining members.

Cenergy Holdings acknowledges the rapid changes in the global energy production and distribution markets and the need for an integrated customer and product perspective from both of its segments for all energy sources. Therefore, the decision towards a single CEO structure will further promote management synergies and enhance cost efficiency of the Company.