Pursuant to L. 3016/2002 and par. 4.1.3.9 of the Athens Stock Exchange Rulebook, LAMDA Development S.A. (the 'Company') hereby informs the investing public that its Board of Directors decided, on 23rd May 2018 (following its relevant decisions of May 22, 2015, approved by the Ordinary General Meeting of the Company on 16.06.2015, and May 24, 2016 approved by the Ordinary General Meeting of the Company on 15.06.2016) the partial change of use of the funds raised from the Company's share capital increase, which was decided under the resolution of the Extraordinary General Meeting of Shareholders dated April 29, 2014, which funds amounted to the net amount of 146.1 million Euro (150 million Euro total revenue, minus 3.9 million Euro issue costs).

More specifically, the Board of Directors, aiming to the reduction of corporate debt, with the scope to facilitate the corporate interests of the Company, decided on the 23.5.2018 to add a new fifth (e) category of intended uses of raised funds, entitled 'Repayment of Bond Loans' with an aggregate expense amounting up to Euro twenty five million six hundred ninety nine thousand (€ 25.699.000) and an equal reduction of the (a) and (d) category of intended uses of raised funds.

The provisions of section 4.2 (Use of Raised Funds) of the Prospectus, as approved by the Hellenic Capital Market Commission shall apply, with no further modification.

This decision is subject to the approval of the forthcoming Ordinary General Meeting of the Company's Shareholders.

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Lamda Development SA published this content on 23 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 May 2018 14:12:09 UTC