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LAST UPDATE: 14:25
The construction market of the Dutch Reggeborgh Invest BV caused a sensation in the construction market by acquiring a call option of 26,882,023 shares and voting rights in Ellactor, corresponding to 12.5457% of the total voting rights of the listed group.
This move by the company marks the “end of an era” for Leonidas Bombolas in Ellactor, whose percentage will be bought by Reggeborgh Invest BV, if he exercises the right to purchase within 180 days from September 10, 2020, that is , until the end of December. In this way, it seems that the scenarios that wanted the majority shareholder of Ellactor to return to the management of the group are refuted.
With today’s announcement from the Ellactor group, it appears that Reggeborgh Invest controls a 5% stake in the listed company, as the Dutch company gradually “built” its position in the company lately. After all, he had expressed interest in acquiring part of Ellactor’s share capital as of 2018, something that had not been possible. However, this delay probably benefited the Dutch, who will acquire 12.5% of Ellactor’s shares, at a price lower than the 2018 valuation.
Reggeborgh Invest BV also controls 30.2% of the GEK TERNA group, according to the latest available data, without, of course, having an administrative or other participation in the listed company with George Peristeris as president and managing director.
Following the completion of the transaction, the Dutch will acquire 17.5% control in Ellaktor, whose construction sector (Aktor) is undergoing restructuring.
It is observed that Ellactor’s participation after the announcement of the Call Option of the Dutch fund reacts with an increase of more than 15%.
Reggeborgh Invest is one of the largest construction groups in Europe. It is an investment “vehicle” of the Dutch Wessels family, which controls the construction company VolkerWessels. The latter is one of the strongest construction groups in Europe, with a presence in the Netherlands, Great Britain, Germany and North America and with revenues of around € 5.7 billion in 2017. Reggeborgh Invest has interests in various sectors, including energy.
What the stock market announcement says
The company ELLAKTOR SA communicates the information received on 09/16/2020 from its shareholder as follows:
HE REGGEBORGH TO INVEST yes.V. based in Rijssen, The Netherlands, shareholder of ELLAKTOR SA, in compliance with the Transparency Directive, reports on a change in its participation and voting rights in the share capital of ELLAKTOR SA, as a consequence of a possible future exercise of the option of Options.
Specifically, on 09/10/2020, it acquired a call option of 26,882,023 shares and voting rights of ELLAKTOR SA, corresponding to a percentage of 12.5457% of the total voting rights of ELLAKTOR.
The expiration date is 180 days after 09.10.2020 and the exercise / conversion period is between 1ης and 180ης day after 10.09.2020.
Number of shares and equal number of voting rights before the transaction: direct participation 4.9693% (that is, 10,647,870 ordinary registered shares with voting rights), indirect participation 0% (that is, 0 ordinary registered shares with the right to vote and percentage of total participation and indirect voting rights) 4.9693% (that is, 10,647,870 nominative ordinary shares with voting rights) issued by ELLAKTOR SA.
Number of shares and equal number of voting rights after the exercise of the purchase option (purchase option): direct participation 17.5150% (that is, 37,529,893 registered ordinary shares with voting rights), indirect participation 0% (es that is, 0 nominative ordinary shares with voting rights) and total percentage of participation and voting rights (direct and indirect) 17.5150% (that is, 37,529,893 ordinary nominative shares with voting rights) issued by ELLAKTOR SA.
Additional information – Observation.
HE REGGEBORGH INVEST BV is not controlled by any natural or legal person, according to article 3 of Law 3556/2007 and does not control any other entity that, directly or indirectly, has a stake in the issuer ELLAKTOR SA.
D. Del.
