Cryred Investments Limited made the offer to acquire remaining 4.95% stake in Panagiotis G. Nikas Societe Anonyme Industrial and Commercial Company (ATSE:NIKAS) for €3.3 million on January 21, 2022. As per the transaction, Cryred Investments Limited made the offer to acquire 2.63 million shares at €1.24 per share. As on January 26, 2022, Offeror has received an acceptance for 15,531 shares of NIKAS and as of January 27, 2022, Offeror received an acceptance for additional 1,278 shares. Eurobank S.A. acted as financial advisor to Cryred Investments Limited. As on February 1, 2022, acquired a total of 3.523 common registered shares. As on February 2, 2022, acquired a total of 166 common registered shares. As on February 3, 2022, acquired a total of 300 common registered shares of Panagiotis G. Nikas Societe Anonyme Industrial and Commercial Company. Following the said acquisition, the percentage of voting rights held directly and indirectly by the Offeror in the Company amounted to approximately 98.86% from approximately 95.05%. The transaction is expected to close on April 7, 2022. Eurobank S.A. acted as financial advisor and Karatzas & Partners Law Firm acted as legal advisor of Cryred Investments.

Cryred Investments Limited completed the acquisition of remaining 4.95% stake in Panagiotis G. Nikas Societe Anonyme Industrial and Commercial Company (ATSE : NIKAS) on April 7, 2022.