Trade Estates has announced the commencement of the merger procedures of its wholly owned subsidiaries, "Rentis" and "Bersenco,"  while also releasing the draft merger agreement.

In detail, the announcement of the listed company states that:

In the context of the correct, accurate and timely information of the investing public and in accordance with Regulation 596/2014, Law 4443/2016, Law 4601/2019, decision 3/347/12.7.2005 of the Board of Directors of the Hellenic Capital Market Commission and par. 4.1.1.1 (para. 5 and 6) of the Athens Exchange Regulation, as applicable, the company named "TRADE ESTATES REAL ESTATE INVESTMENT COMPANY ANONYMOUS" (hereinafter referred to as the "Company") announces to the investing public that the Board of Directors of the Company, as well as the Boards of Directors of its wholly owned (unlisted) subsidiaries "REDIS INVESTMENTS REAL ESTATE SOCIETY ANONYMOUS LTD" (hereinafter referred to as "REDIS") and "BERSENCO REAL ESTATE DEVELOPMENT AND DEVELOPMENT MONOPORING SOCIETY ANONYMOUS LTD" (hereinafter referred to as "Bersenco") respectively, decided on 29. 12.2023 to commence negotiations and preparatory actions for the merger by absorption by the Company of its wholly-owned subsidiaries of Rentis and Bersenco, with a transformation balance sheet date of 31.12.2023.

The merger by absorption will be carried out pursuant to articles 35, 7-21 of Law 4601/2019 and articles 1-5 of Law. 2166/1993, as well as the relevant provisions of Law No. 4548/2018 and 2778/1999, as applicable. The final decision on the approval of the above merger by absorption will be taken by the Boards of Directors of the Company and the companies Rentis and Bersenco, in accordance with the provisions of Article 35 par. 2 of Law 4601/2019, subject to paragraph 35(2) of Law 4601/2019. 3 of the aforementioned article. If one or more shareholders of the Company, representing one twentieth (1/20) of the paid-up share capital, request, until the completion of the merger, the convening of an extraordinary general meeting, setting as an agenda item the resolution to approve the merger in accordance with article 14 of Law 4601/2019, the approval of the merger will be taken by the General Meeting of the Company's shareholders.

To this end, the Board of Directors of the Company, together with the Boards of Directors of Rentis and Bersenco, prepared a Draft Merger Agreement dated 04.07.2024 in accordance with the provisions of article 7 of Law 4601/2019, which the merging companies registered on the website of the General Register of Companies on 23.07.2024. The draft merger agreement together with the other documents provided for by Articles 11 par. 1 and 2 (a) of Law 4601/2019 will be available both on the website (https//www.trade-estates.com) and at the Company's registered office (X. Sabag & S. Houri 3, Maroussi).

The Company will inform the investing public of any developments regarding the merger process with the absorption of the aforementioned wholly owned subsidiaries by the Company.