Announcement
ALPHA TRUST Mutual Fund and Alternative Investment Fund Management S.A. (the “Company”) informs the investors that, the Board of Directors, at its meeting on 7th of September 2023, decided the initiation of a demerger process by way of a spin-off of its mutual fund and alternative investment fund management business as well as its portfolio management, advisory and order reception and transmission services business and its transfer to a new entity (Mutual Fund and Alternative Investment Fund Management S.A.) that will be established (“Beneficiary”) in accordance with the relevant provisions of Law 4601/2019 and article 52 of Law 4172/2013, as in force (the "Spin-off").
The Beneficiary shall be a 100% subsidiary of the Company. The Company will retain activities and certain assets and liabilities which do not relate to the spin off business but, mainly, to real estate development, participation in Greek or foreign entities of any form, already established or to be established, irrespective of their corporate purpose, as well as the provision of financial support services to ALPHA TRUST Group companies and third parties, while its shares will remain listed on the Main Market of the Athens Exchange.
Moreover, in accordance with the same resolution, the 4th of September 2023 has been set as the balance sheet transformation date of the spin off business.
The completion of the Spin-off is subject to the approvals of the Company’s competent bodies, required by law and all other necessary approvals.
The Company will inform the investors of the progress of the Spin-off process in accordance with the applicable legislation.
Kifissia, September 7th, 2023