PRESS RELEASE
Approval of Related Party Transaction pursuant to Article 101(2) of Law 4548/2018
The Board of Directors of the Company under the trade name "TRASTOR Real Estate Investment Company" and the distinctive title "TRASTOR REIC" (hereinafter the "Company"), announces the following:
The Company's Board of Directors resolved on October 25, 2024, to approve the execution by the Company with "Piraeus Bank S.A." (hereinafter the "Bank") of an Overdraft Facility Agreement through an Open (Mutual) Account (hereinafter the "Overdraft Facility Agreement"), under which the Bank shall grant credit to the Company up to the amount of forty million euros (€40,000,000) (the "Credit Facility"), pursuant to the specific terms and conditions set forth in the Overdraft Facility Agreement and the "First Additional Act to Overdraft Facility Agreement No. 16900446 through Open (Mutual) Account" (hereinafter the "Additional Act"), drafts of which were presented to the members of the Board of Directors.
Furthermore, the Board of Directors granted a special authorization under Article 100 of Law 4548/2018, as in force, for the execution of a transaction by the Company with a related party, specifically the execution with its shareholder, the Bank, of the Overdraft Facility Agreement and the Additional Act, as well as the establishment of the Security, namely the granting of an irrevocable notarial power of attorney for the registration of a mortgage prenotation on the Properties, in accordance with the specific provisions of the Additional Act.
The aforementioned Board resolution to grant authorization for the execution of the said transaction was made in accordance with the provisions of Article 101(1) of Law 4548/2018, as in force, based on the Independent Auditor's Valuation Report dated October 24, 2024, attached to the above decision, which was prepared by the independent Auditor - Accountant Mr. Eleftherios Koutsopoulos (SOEL Reg. No.: 44651) of the auditing firm "Grant Thornton," concluding that the transaction is fair and reasonable for the Company and for any other shareholder of the Company who is not a related party.
This transaction serves the corporate interest, as it contributes to the facilitation and advancement of the Company's purposes and is fair and reasonable for the Company and its shareholders, as it enables the Company to secure additional liquidity to implement its business plan.
The majority shareholder, "PIRAEUS BANK S.A.", has made a declaration pursuant to Article 100 (3) of Law 4548/2018, indicating that it does not intend to request the convocation of a general meeting to decide on the matter of granting the special authorization of Article 99 of Law 4548/2018, as in force. Given that the aforementioned main majority shareholder holds more than 98% of the Company's paid-up share capital and that the Company's Articles of Association do not provide for a reduced percentage for exercising the right under Article 100(3) of Law 4548/2018, as in force, no other shareholder holds at least 5% of the Company's share capital to request the convocation of a general meeting to decide on this matter.
Athens, October 30th, 2024
Trastor R.E.I.C. 5, Chimarras str., Maroussi GR 151 25, Τ + 30 210 69 10 016, F +30 210 33 11 956
HCMC License No 5/266/14.3.2003 | GCR No 3548801000 | T.I.N. 099554901