APPROVAL OF THE REQUEST OF THE COMPANY NAMED "IDEAL HOLDINGS S.A." CONCERNING THE RIGHT TO REDEEM THE REMAINING ISSUED SHARES OF THE COMPANY WITH THE NAME "BYTE SA"
According to article 2 par. 1 of the decision no. 1/644/22.04.2013 of the Board of Directors of the Hellenic Capital Market Commission (hereinafter, the "Decision" and the "HCMC"), the company "IDEAL HOLDINGS A.E." (hereinafter, "IDEAL") announces that on 11/10/2022, the Board of Directors of HCMC by virtue of its decision numbered 17/967/11.10.2022, approved IDEAL's request from 03/10/2022 regarding the exercise of the redemption right (hereinafter, the "Redemption Right") pursuant to Article 27 of Law 3461/2006 (hereinafter, the "Law") of the shares of the remaining shareholders of the company "BYTE SA" (hereinafter, "BYTE"), who did not accept Voluntary Tender Offer (hereinafter, the "VTO") of 01/07/2022 submitted by IDEAL in accordance with the Law, for the acquisition of 100% of shares issued by BYTE. The above approval by the Board of Directors of HCMC was notified to IDEAL on 13/10/2022, while the date for the cessation of trading of BYTE's shares on the Athens Stock Exchange was set on 26/10/2022.
The Redemption Right concerns the acquisition of the remaining BYTE’s shares (hereinafter, the "Shares") for a consideration equal to the Offered Consideration of the VTO or, at the option of the recipient, equal to the Cash Consideration. In accordance with the VTO, the tax pursuant to article 9 of Law 2579/1998, which currently amounts to 0.20% and is calculated on the transaction value, will be deducted from the Offered Consideration payable to the shareholders.
For the shareholders affected by the Redemption Right to choose to receive the Offered Consideration or the Cash Consideration, the said shareholders should provide a relevant instruction to the operator of their DSS account in a timely manner and to authorize him to take all the necessary actions to receive on their behalf the type of consideration they will have chosen during the Right of Redemption process. A form of the relevant selection statement will be made available to Operators through HCSD. It is pointed out that, according to the Decision, in the event that (a) the holder of Shares does not properly authorize the operator of his/her securities account at DSS to collect the consideration on his/her behalf, or (b) Shares that are not free from encumbrances, third party rights or seizures, or (c) Shares that are with an operator’s account at DSS subject to special liquidation, IDEAL will deposit the Offered Consideration to the Consignment Deposits and Loans Fund (CDLF) in favor of the relevant beneficiary.