ELPE: The establishment of ELPE SA was approved. Holdings

Following the recent decision of the Extraordinary General Meeting, the dissolution of Hellenic Petroleum Societe Anonyme was formally approved, with the spin-off of the refining, supply and sales sector of petroleum and petrochemicals and the establishment of the new public limited company.

According to the relevant stock exchange announcement of the company, the approval of the split implies, first of all, the establishment of the new societe anonyme with the name Hellenic Petroleum Single-person Company for Refining, Supply and Sales of Petroleum and Petrochemicals and the distinctive title Hellenic Petroleum SA. Also, the split became the sole shareholder of the benefiting Hellenic Petroleum DEPPE SA. taking all of its shares. The new name of Diapomenis is Hellenic Petroleum Holdings Societe Anonyme.

In more detail, as stated in the relevant stock exchange announcement, “Hellenic Petroleum Societe Anonyme” with number GEMI 296601000 (hereinafter “Split”) announces that, following the decision of the Extraordinary General Meeting of Shareholders of 10.12.2021, approved – pursuant to no. 142903 / 03.01.2022 decision of the Ministry of Development and Investment and was registered in the General Commercial Register (G.E.M.I.) on 03.01.2022 with Registration Code 2767913 its split, with separation of the refining, supply and oil sales sector. with the establishment of a new public limited company (hereinafter “Split”), pursuant to the provisions of articles 57 and 59-74 of Law 4601/2019 and Law 4548/2018.
The approval of the Division brings the following results:

a) Set up a new limited company under the name “GREEK PETROLEUM SA MONOPROSOPI REFINING AND SUPPLY SALES OF PETROLEUM AND PETROCHEMICALS” (the “recipient”) under number 162 093 601 000 GEMI distinctive title “GREEK PETROLEUM D.E.P.P. Π. Α.Ε. ” and its statutes were approved. The decision approving the establishment of the company in question and its articles of association, was registered in the General Commercial Register (G.E.M.I.) on the same day with Registration Code 2768007 / 03.01.2022.
b) The Split became the sole shareholder of the Beneficiary “HELLENIC PETROLEUM DEPPP SA”, receiving all its shares, ie 130,100,000 common registered shares, with a nominal value of € 10 each.
c) Articles 1 (name), 4 (purpose) and paragraph 4 of article 19 (Board of Directors) of the Articles of Association of Split were amended, in accordance with the decision of 10.12.2021 of the Extraordinary General Meeting of its shareholders. The new name of Diapomenis is “HELLENIC PETROLEUM HOLDINGS SA” and its distinctive title: “HELLENIC PETROLEUM HOLDINGS SA”.

It is noted that following the completion of the Split, the shares of Split will remain listed on the Main Market of the Athens Stock Exchange.