SFS bid for Athena approved

The Cyprus Stock Exchange approved the Public Offer document of SFS Group for the acquisition of a minimum 50% plus 1 share of the issued share capital of Athena Cyprus Public Company Limited.
For every share of Athena of nominal value CYP0.25, the Company will offer the Net asset Value per share of Athena as at March 31, 2007 cash, as this was announced by Athena in the CSE on April 4, 2007 of CYP 0,4075 (EUR0,7013) minus the proposed dividend of CYP 0,0275 per share for 2006 (EUR0,0473), that is CYP 0.38 (EUR0.654). The consideration will be paid in Cyprus pounds.
A necessary requirement for a successful Public Offer is the receipt of the Acceptance Forms, so that the total stake held by the Company in the issued share capital of Athena equals to 50% plus 1 share of the issued share capital. In case that the Company secures acceptances exceeding 50% plus 1 share of the issued share capital of Athena, the Company will accept the offered shares on a pro rata basis, so that the stake acquired in Athena does not exceed 50% plus 1 share of its issued share capital. On the other hand, if the Company secures less than 50% plus 1 share, the Public Offer will expire unsuccessfully.
The period of acceptance will start on April 20, 2007 and will expire on May 21, 2007 at 1.00 pm.