Foodlink announces to the investing public that on Friday, November 22, 2024, it acquired from the Cypriot company Sadion Investments (of interest in Mr. Konstantinos Papazisis) 20% of the share capital of Athinaiki for a total price of €694.800.00.

It is recalled that in November 2021 Foodlink had completed the acquisition of 55% of the share capital of Athinaiki for a total consideration of €1,910,700.00, according to the respective information note published by the company in December 2021, which can be found on the company's website, www.fdlgroup.gr.

Following the above, Foodlink now holds 75% of the share capital of Athinaiki, which it acquired for a total consideration of €2,605,500.

Of the total consideration, an amount of €231,600.00 was paid into a bank account on the date of signing the contract, while the remaining amount will be paid in two equal instalments on 15 November 2025 and 15 November 2026.

According to a statement, the financing of the paid price was made from unspent funds raised from the share capital increase carried out by the company in 2018. Specifically, in April 2018, the issuer had successfully completed the increase of its share capital by €3,001,729.50 in cash, with preemptive rights in favour of its existing shareholders, for the purpose of acquiring or acquiring businesses in Greece or abroad. The net amount raised after deduction of issue costs amounted to EUR 2 936 729,50. From the above net amount of the funds raised, an amount of EUR 1,910,700.00 was allocated in 2021 for the acquisition of 55% of the share capital of ATHENAIKI.

Consequently, from the 2018 Share Capital Increase, unallocated funds of EUR 1,026,029.50 remained from the 2018 Share Capital Increase. After the current acquisition of 20% of ATHENAIKH S.A., the remaining funds from the 2018 Share Capital Increase amount to EUR 331,229.50. In addition, funds of EUR 1,000,576.50 were raised from the share capital increase that took place in 2023, which have not been expended. The total amount of undrawn funds therefore amounts to EUR 1,331,806.00. These funds are used by the company until their utilization to reduce the open credit lines maintained by the company in order to reduce borrowing costs.