Petsas subject of takeover bid

Christakis Petsas, Michael Petsas and Mrs. Irene Kalli have decided irrevocably to submit a Public Offer to all remaining shareholders of Andreas Petsas & Sons Public Company Ltd for the acquisition of up to 100% of the issued share capital of the Company.  The Offerors are major shareholders and hold directly 71.44% and indirectly 74.94% of the issued share capital of the Company. 

The consideration has been set at EUR0.28 per share (16.31 cents).

The total issued shares of the Company stand at 35,013,104 of nominal value 20 cents each. The Offerors have reached an agreement with Marfin Popular Bank Public Co Ltd, which will provide the sum that the Offerors will be asked to pay to the acceptors of the Public Offer, even if it is accepted by all shareholders.