Major Shareholder Responsibilities
ELINOIL S.A., with the purpose of informing and facilitating investors, discloses information regarding the obligation and the procedure for the disclosure of significant shareholdings, in accordance with the provisions of Law 3556/2007, the provisions of resolution number 1/434/3.7.2007 of the Board of Directors of the Hellenic Capital Market Commission (HCMC) and the relevant clarifications of interpretative circular no. 33 of the HCMC.
In particular, according to Law 3556/23007, it is an individual obligation of every shareholder of a company the shares of which are listed on a regulated market, who acquires or disposes of shares with voting rights, and of every person, shareholder or not, who is entitled to acquire, dispose of or exercise voting rights, and as a consequence of said acquisition or disposal or exercise thereof, the percentage of voting rights held or exercised by them reaches, exceeds or falls below the limits of 5%, 10%, 15%, 20%, 25%, 1/3, 50% and 2/3 of the total voting rights of the company or, if the percentage of voting rights held by them exceeds 10%, changes by 3% or more of the total voting rights of the company, to inform the company and the HCMC simultaneously, as soon as possible and, in any case, at the latest within (3) three trading days, the first of which is the day following the date on which they were informed or should have been informed of the acquisition or disposal or the possibility of exercising the voting rights.
For the purpose of calculating the above limits, ELINOIL has posted on its website (www.elin.gr) its share capital (€ 11,914,065) divided into 23,828,130 common registered shares with a nominal value of € 0.50 each, corresponding to 23,828,130 voting rights.
The above notification shall be made by submitting to our Company and the HCMC the TR1 notification form posted on our website, legally signed by the liable person or by another person, legally authorized and, if the liable person is a legal entity, by its legal representative. The form shall be accompanied by an annex, which shall be completed by the liable persons with their personal data and shall be submitted only to the HCMC. The correct filling in of the notification form constitutes an obligation of the liable person, who is responsible for any errors and omissions.
In case of breach of the above obligations, article 26 of Law 3556/2007 provides for the possibility of the HCMC to impose a reprimand or a fine of up to EUR 1,000,000.
In order to provide our Shareholders with more complete information on the above, Law 3556/2007, the decision of the Board of Directors of the HCMC no. 1/434/3.7.2007, the relevant interpretative circular no. 33 of the HCMC, and the TR1 notification form for significant transactions have been posted on our website.