Last checked at 16 Feb 2018 15:53
Announcement of Regulated Information
Athens, February 16, 2018 - Hellenic Telecommunications Organization S.A. ("OTE" or the "Company") announces that, the Extraordinary Shareholders General Meeting on 15/02/2018 approved, in accordance with article 16 of the Codified Law (C.L.) 2190/1920, as in force, the share buyback of up to 10% of the Company's total paid up share capital, i.e. a total up to 49,015,039 (490,150,389 X 10%) shares (including own shares already owned by OTE at any time), at a price range between €1 (minimum purchase price) and €30 (maximum purchase price) per share, for a period of 24 months, beginning from the date of this Shareholders' General Meeting resolution. This approval of share buyback implements part of the Shareholders Remuneration Policy as announced on 19/01/2018. The shares will be acquired in order to be cancelled following a Shareholders' General Meeting resolution. The estimated maximum amount, that is expected to be used for the share buyback, for the current year, amounts to €90 million. The final amount and the number of shares that will eventually be acquired will depend both on the share price and trading volumes and on the progress of cash flows over the year.
The Own Share Buy Back Programme will be executed under the terms of the legal and regulatory framework in force.
The announcement is issued in accordance with Regulation No 596/2014 of the European Parliament and of the Council on market abuse, the Commission Delegated Regulation 2016/1052 and the Athens Exchange Rulebook (paragraph 4.1.3.14).
FOR FURTHER INFORMATION:
OTE GROUP INVESTOR RELATIONS Konstantinos Krokos Τel. + 30 210-6111121 Fax: + 30 210-6111030 E-mail: iroffice@ote.gr |