Noval Property announces the outcome of the public offer of its new common, registered shares with voting rights, while in a second announcement informs that the trading of its shares on the Athens Exchange will commence on June 5.

In detail, the announcement on the allocation of shares states that:

"National Bank of Greece SA" and "Eurobank Bank SA", as Coordinating Lead Underwriters and Issuing Advisors, and "ALFA Bank SA" and "Piraeus Bank SA", as Coordinating Lead Underwriters, of the public offering of the new common, dematerialized, registered shares with voting rights (the "New Shares") of "NOBAL PROPERTY REAL ESTATE INVESTMENT COMPANY, S.A." (the "Company") issued in the context of the increase of its share capital, with cash payment and cancellation of the pre-emptive rights of existing shareholders (the "Increase"), through a public offer (the "Public Offer") pursuant to the terms and conditions set out in Article 17. 05.05.2024 resolution of the Board of Directors ("Board of Directors" or "Board") of the Company in exercise of the authority granted by the resolution of the Extraordinary Extraordinary Extraordinary General Meeting of the Company's shareholders dated 04.09.2023, following the announcements of Tuesday 28.05.2024 and Friday 31.05.2024, announce the following:

On Friday 31.05.2024, the Public Offer and the allocation through it of 17,388,025 new ordinary, registered, dematerialised, non-voting shares of the Company ("New Shares") were successfully completed.

Pursuant to the decision of the Board of Directors of the Company dated 31.05.2024, the offering price of the New Shares ("Offering Price") was set at €2.78 per New Share for the entire Public Offer (Special and Retail Investors).

The total funds raised in the Offering, before deduction of issue costs, amount to €48.34 million (i.e. €2.78*17,388,025 New Shares).

The total valid demand at the Offer Price of €2.78 amounted to 39,592,341 Shares (i.e., an amount of €110.07 million), exceeding the 17,388,025 New Shares to be allocated through the Public Offer by approximately 2.28 times.

The total of 17,388,025 New Shares allotted through the Public Offer were allocated based on the valid demand expressed at the Offer Price, as follows:

7.824,612 new shares (45% of the total number of shares on offer) were given to retail investors. This was out of a total of 19,697,469 shares that valid demand was expressed in the specific category of investors. This means that 39.7% of the demand expressed in the specific category of investors, which was based on 4,907 applications, was met.

9,563,413 New Shares (55% of the total Public Offering) to Special Investors, out of a total number of 19,894,872 shares for which there was valid demand in this category of investors (i.e. 48.1% of the demand expressed in this category of investors and at the Offer Price, which related to 100 applications).
Pursuant to the underwriting agreement entered into between the Company, the Coordinating Lead Underwriters and the Lead Underwriters, the Coordinating Lead Underwriters and the Lead Underwriters have not made any commitment to underwrite any unissued New Shares. In addition, it is noted that the Coordinating Lead Underwriters and the Lead Underwriters did not apply to participate in the Public Offer for their own account, with the exception of the Coordinating Lead Underwriter Eurobank, which applied for 266,000 New Shares for its own account in the Public Offer and subscribed for 105,655.

The Company's Board of Directors also decided on June 4, 2024, that the common and conditional mandatory convertible bond loan ("CB") issued by the Company on October 5, 2023, would be converted into 1,576,769 new common, registered, dematerialized, non-voting shares with a nominal value of €2.50 ("Conversion Shares"). This was done in line with the terms of the resolution and at a conversion price of €2.78 per Conversion Share. The Conversion Shares will be underwritten in their entirety by the EBRD and are not subject to the Public Offer, as stated in the Company's Prospectus dated May 22, 2024.

In another announcement, the Company announced that on June 5, the trading of its shares on the Athens Exchange will commence.

In detail, the announcement states that the Listing and Market Operations Committee of the Athens Exchange, at its meeting today, approved:

The listing of all 126,431,958 common registered shares of the company "NOBAL PROPERTY S.A." (ISIN: GRS824003008) on the Main Market of the Athens Stock Exchange. Trading in the company's shares will commence on Wednesday, 5, 2024.