Eurobank Ergasias Services and Holdings S.A. (“Eurobank Holdings”) announces that its Board of Directors decided on December 18th, 2024 the initiation of the merger process of Eurobank Holdings with its 100% subsidiary Eurobank S.A. (“Bank”) through absorption of Eurobank Holdings by the Bank.
The merger will be implemented with a combined application of L.4601/2019 and article 16 of L.2515/1997.
December 31st, 2024, was defined as the merger transformation balance sheet date, after which all actions that will take place and will concern Eurobank Holdings shall be treated as occurring on behalf of the Bank.
The following effects occur upon the completion of the merger (as of the day the approving decision of the competent Authority is registered in the General Commercial Registry), the following effects occur:
a) Eurobank Holdings ceases to exist and its shareholders become shareholders of the Bank with the same stakes and the same number of shares, receiving the entirety of Bank’s newly issued shares and
b) the Bank, that will retain its banking license, substitutes Eurobank Holdings as universal successor in the totality of its assets and liabilities transferred to the Bank, as they appear in the transformation balance sheet of Eurobank Holdings and as it is formulated until the completion of the merger.
Before the completion of the merger, the shares of the Bank will be listed in the ATHEX and upon completion of the merger they will be distributed to Eurobank Holdings shareholders in exchange of the Eurobank Holdings shares they possess at a ratio of one newly issued share of the Bank for one existing share of Eurobank Holdings.
The completion of the merger is subject to all necessary by Law approvals, including the approval of the shareholders’ General Meeting of both merging companies as well as the receipt of all the necessary approvals of the competent Authorities.
Investors will be kept updated by Eurobank Holdings on the progress of the merger process.