The Cyprus Securities and Exchange Commission has approved the public offer for the acquisition of up to 100% of the issued share capital, clearing the path for Eurobank to fully acquire Hellenic Bank.

To date, Eurobank holds 55.48% of Hellenic Bank, with a proposed purchase price of €2.56 per share.

Under the Public Offer Document, the consideration offered to the shareholders of Hellenic Bank who accept the Public Offer is €2.56 per share, payable in cash.

The proposed consideration of €2.56 per share represents a discount of 3.03% to the closing price of the share on the day prior to the announcement of the public offer and a premium of 14.84% to the average closing price for the 12 months preceding the announcement of the public offer.

In addition, the proposed consideration is at a discount of 33.91% to Hellenic Bank's net asset value per share as reported in its unaudited condensed interim consolidated financial statements for the quarter ended March 31, 2024.

The tender offer acceptance period for Hellenic Bank shareholders begins on July 1, 2024, and ends at 2:30 p.m. on July 30, 2024.