Hellenic Petroleum on potential disposal of shares by HRADF

Hellenic Petroleum SA on Friday said that Hellenic Republic Asset Development Fund SA (HRADF) has examined the potential disposal of Hellenic Petroleum's shares through the stock exchange.

In an announcement, Hellenic Petroleum said that: "following certain press reports that have been published during the last days, referring to the disposal of shares of Hellenic Petroleum S.A. by its shareholder Hellenic Republic Asset Development Fund S.A. (HRADF S.A.), we would like to inform investors as follows:

1. The potential disposal of shares of Hellenic Petroleum S.A. which is mentioned in the aforementioned press reports is subject to decision and implementation by our shareholder HRADF S.A. and not the Company. Such disposal will take place in accordance with the procedures and legal provisions that govern the operation and management of the portfolio of participations of the HRADF.

2. In view of the fact that Hellenic Petroleum S.A. has not been informed up to now on the commencement of the procedure for the disposal of its shares by the HRADF, it requested an update, following an inquiry by the Hellenic Capital Markets Commission and has received, in response from the aforementioned shareholder, a notification, according to which: “the HRADF reviewed, among other options, the possibility of a disposal of its participation in Hellenic Petroleum S.A. through the stock exchange. Subject to the final decisions that will be taken by the Board of Directors of the HRADF, the specific features of such a potential disposal will be determined in due course. It is noted that no decision has been taken as to the exact stake to be sold, the sale price or a potential discount. If such obligation arises, in line with statutory framework, an immediate notification to the public will follow”.