The Board of Directors of GERMANOS S.A. '“ following its latest announcement of Friday 5th May 2006 regarding the exclusive negotiations of the main shareholder of the Company with the mobile telephony operator COSMOTE S.A. - announces that it was informed by the main shareholder and founder of the Company Mr. Panos Germanos that COSMOTE S.A. agreed to acquire 42% of the outstanding shares of Germanos S.A. (Mr. Panos Germanos and other shareholders) at 19 Euro per share.
The agreement is subject to receiving the necessary approvals by the relevant regulatory authorities.
GERMANOS Group of Companies is active in 7 countries successfully (Greece, Poland, Romania, Bulgaria, Ukraine, Cyprus, FYROM), via its Chain of 950 Stores, selling Technology Products and Services. For the year 2005, consolidated sales exceeded one billion, amounting to €1,025 million, while net earnings amounted to approximately €63.1 million.
According to the briefing of Mr. P. Germanos to the Board of Directors of GERMANOS S.A., COSMOTE S.A. '“after it acquires 42% of the outstanding shares of Germanos S.A.- intends to launch a public tender offer for the remaining shares of Germanos S.A. . Mr. Panos Germanos will remain Chairman of Germanos S.A., and following the public tender offer, he will reinvest in Germanos S.A. 10%, while at the same time he will acquire GERMANOS Group business activities in the industrial sector SUNLIGHT (in all countries it operates), as well as the business activities in the markets of Poland, Ukraine and Cyprus.
