\n
\u00a0IFIKLIS S.A. is a technical company that is active in the construction sector and that has held a class 3 degree of the Register of Contracting Companies of the General Secretariat of Public Works of the Ministry for the Environment, Physical Planning and the Environment since 2005 for all categories of works (construction, electrical-mechanical, water, road, energy and port), which may be extended to a class 4 degree in 2008. The company\u2019s owners\u2019 equity, as of 30 June 2007, amounted to approximately 1.6 million Euros, while its forecasted turnover for 2007 is expected to reach approximately 2.0 million Euros.
\nFollowing the buy-out, EKTER S.A., which holds a class 6 degree of the Register of Contracting Companies of the General Secretariat of Public Works of the Ministry for the Environment, Physical Planning and the Environment and which can undertake or participate in works that are carried outside the prefecture of its seat with a budget that exceeds 10.5 million Euros and within the prefecture of its seat with a budget that exceeds 5.250 million Euros per work category, will be able, via IFIKLIS S.A., to undertake or participate in works of a smaller scale of a budget of at least 3.750 million Euros per work category, an area that is currently expanding and that is appealing in terms of most of the categories of technical works of the public sector.
\nThe consideration of the buy-out was set at 2.25 million Euros, following an assessment that was carried out by an independent certified auditors accountants firm. EKTER S.A. will cover the consideration exclusively from its available capital. Prior to its completion, the transaction will be submitted for approval before the extraordinary general meeting of the shareholders that was called today by the Board of Directors to convene and that will convene on 19 December 2007 at 14.00. The said meeting will be called to approve the transaction pursuant to article 23a of Codified Law 2190\/1920 whereas the sellers come under the provisions of the said article. The Board of Directors has prepared a separate report for this meeting, which shall be published concurrently with the present announcement.<\/p>\n
Athens, 23 November 2007
\nThe Board of Directors<\/p>\n<\/div>\n<\/div>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
EKTER S.A. would like to hereby announce that it has signed a memorandum of agreement as regards the buy-out of the total numbers of shares of the company with the corporate name IFIKLIS S.A. \u2013 TECHNICAL \u2013 CONSTRUCTION \u2013 TOURIST \u2013 HOTEL \u2013 SHIPPING \u2013 COMMERCIAL SOCIETE ANONYME. \u00a0IFIKLIS S.A. is a technical company that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[],"class_list":["post-4952","post","type-post","status-publish","format-standard","hentry","category-press-releases-announcements"],"acf":[],"yoast_head":"\n
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