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    PPC   GRS434003000

PUBLIC POWER CORPORATION S.A.

(PPC)
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Public Power S A : Resolutions of the Extraordinary General Meeting of the Shareholders of PPC S.A.

10/20/2021 | 02:41am EST

Investor

Relations

Department

Athens, October 20, 2021

Announcement - Regulated information

Resolutions of the Extraordinary General Meeting of the Shareholders

of PPC S.A.

PUBLIC POWER CORPORATION S.A. announces that the Extraordinary General Meeting of Shareholders, was held on Tuesday, October 19th, 2021, at 11 a.m., in accordance with the Invitation to the Extraordinary General Meeting, which was published on September 24, 2021 pursuant to the provisions of the Law and its Articles of Incorporation and was posted on the Company's website at the link:

https://www.dei.gr/en/i-dei/enimerwsi-ependutwn/genikes-suneleuseis-metoxwn/anakoinwseis-gia-genikes-suneleuseis-metoxwn-2021/egm-of-the-shareholders-on-19-10-2021

In the Extraordinary General Meeting of Shareholders 231 Shareholders were legally presented (in person or by proxy), representing 170,954,479 common registered shares with voting right on a total of 232,000,000 common registered shares with voting right, that is noted a quorum of 73.69%. The Extraordinary General Meeting of the Shareholders on 19.10.2021 discussed and resolved on the following items of the Agenda:

ITEM ONE/ case a: Approval of the transaction for the sale by PPC S.A. of 49 % of the share capital of its subsidiary company "HELLENIC ELECTRICITY DISTRIBUTION NETWORK OPERATOR S.A." (HEDNO)

The shareholders approved the Transaction for the sale by PPC S.A. of 49 % of the share capital of its subsidiary company "HELLENIC ELECTRICITY DISTRIBUTION NETWORK OPERATOR S.A." (HEDNO) to the Greek societe anonyme under the trade name "MSCIF DYNAMI BIDCO MONOPROSOPI S.A.", a wholly owned subsidiary of Spear WTE Investments S.a.r.l., Macquarie Asset Management.

The total number of votes for which valid votes were casted, amounted to 170,954,479, which correspond to 100% of the share capital that was present.

Number of votes in favor: 170,916,364, against: 38,015, abstained: 100.

Therefore, the majority of the shareholders on a 99.98% of the valid votes has voted in favour of the item.

Investor

Relations

Department

ITEM ONE/ case b: Approval of the demerger, namely the hive-down of the electricity distribution network sector through contribution and absorption thereof by HEDNO,pursuant to Article 123A of Law 4001/2011, Law 4601/2019 and Legislative Decree 1297/1972 as in effect, including the approval of the Draft Demerger Deed of the Sector along with annexes attached thereto, and pertinent authorizations.

The shareholders approved the hive-down of the electricity distribution network sector through contribution and absorption thereof by HEDNO, as well as the Draft Demerger Deed of the Sector along with annexes attached thereto.

The total number of votes for which valid votes were casted, amounted to 170,954,479, which correspond to 100% of the share capital that was present.

Number of votes in favor: 170,916,364, against: 38,015, abstained: 100.

Therefore, the majority of the shareholders on a 99.98% of the valid votes has voted in favour of the item.

ITEM TWO: Increase in the share capital of the Company, in accordance with article 6 of its Articles of Incorporation and article 24, par. 1, item b' of Law 4548/2018. Abolition of preemptive rights of existing Shareholders, in accordance with article 27, par. 1 of Law 4548/2018.

Authorization of the Board of Directors to increase the share capital of the Company, to determine the terms of the share capital increase, as well as the manner and other terms for offering the shares to be issued.

The Shareholders approved the increase of the Company's share capital, pursuant to Article 6 of the Company's Articles of Association and Article 24 par. 1, element b, of Law 4548/2018, the disapplication of the preemption rights of the existing shareholders, in accordance with Article 27 par. 1 of Law 4548/2018, in the context of the share capital increase, with which the Board of Directors of the Company was authorized to proceed according to Article 24 par. 1, element b, of Law 4548/2018, as well as the grant of authorisation to the Board of Directors to:

  1. resolve, with the quorum and majority provided for by law, the increase of the share capital of the Company, through payment in cash, by an amount that may not exceed the amount equal to the paid-up share capital of the Company as at the date of this authorization to the Board of Directors, namely up to the amount of Euro 575,360,000, by issuing up to 232,000,000 new, common, registered, voting, dematerialised shares (the "Share Capital Increase"); (b) determine the specific terms and time plan of the Share Capital Increase in accordance with the applicable provisions of Law 4548/2018, including indicatively the structure of the Share Capital Increase, the offer price of the new shares, the offer of the new shares in a public offering in Greece and a private placement of the new shares outside of Greece, the categories of investors eligible to participate in the Share Capital Increase, the criteria of allocation between the different categories of investors in Greece or/and abroad who shall subscribe for new shares in the context of the Share Capital Increase, including the adoption of a mechanism for the priority allocation of the new shares to the existing shareholders of the Company participating in the offering of new shares, the conclusion of the necessary contracts with foreign or/and domestic

Investor

Relations

Department

financial intermediaries, arrangers, coordinators or managers, or/and other credit institutions and investment firms, any act and action in general for the implementation and completion ofthe Share Capital Increase, including the relevant amendment to the Company's Articles of Association and the admission of the new shares to trading on the Athens Exchange, and (c) the power to authorize one or more of the members of the Board of Directors or other executives of the Company, each acting jointly or severally, to take any decision or other action relevant to the above under (b), which will not require approval by the Board of Directors pursuant to the law or/and the Company's Articles of Association.

The Board of Directors may exercise the power to increase the Company's share capital, as per above, in the context of one or more transactions. The above authorisation will be valid only for 3 months.

The total number of votes for which valid votes were casted, amounted to 170,954,479, which correspond to 100% of the share capital that was present.

Number of votes in favor: 169,591,588, against: 1,362,891, abstained: 0.

Therefore, the majority of the shareholders on a 99.20% of the valid votes has voted in favour of the item.

ITEM THREE: Confirmation of the capacity of the Vice-Chairman of the Board of

Directors,

Mr. Pyrros Papadimitriou, as Independent Member of the Board of Directors.

The Shareholders confirmed the capacity of the Vice-Chairman of the Board of Directors, Mr. Pyrros Papadimitriou, as Independent Member of the Board of Directors.

The total number of votes for which valid votes were casted, amounted to 170,954,479, which correspond to 100% of the share capital that was present.

Number of votes in favor: 170,834,690, against: 113,784, abstained: 6,005.

Therefore, the majority of the shareholders on a 99.93% of the valid votes has voted in favour of the item.

ITEM FOUR: Amendment - supplement to article 3, "Object", of the Company's

Articles

of Incorporation.

The shareholders approved the amendment of article 3 on the Object of the Company of PPC's Articles of Incorporation as in effect in order to meet the operational needs of the Company as derived by the application of the General Ports Regulation.

The total number of votes for which valid votes were casted, amounted to 170,954,479, which correspond to 100% of the share capital that was present.

Number of votes in favor: 170,719,410, against: 229,064, abstained: 6,005.

Therefore, the majority of the shareholders on a 99.86% of the valid votes has voted in favour of the item.

Investor

Relations

Department

Forfurtherinformationpleasecontact: PublicPowerCorporationS.A. InvestorRelations,e-mail:ir@dei.grIoannisStefos,IRDirector Telephone:+302105292153 e-mail:i.stefos@dei.gr

TheannouncementmaybeaccessedonthewebsiteofPublicPowerCorporationS.A.www.dei.gratthe"Investor

Relations"section.

Disclaimer

Public Power Corporation SA published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 06:40:07 UTC.


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Sales 2021 5 118 M 5 807 M 5 807 M
Net income 2021 80,5 M 91,3 M 91,3 M
Net Debt 2021 2 082 M 2 362 M 2 362 M
P/E ratio 2021 195x
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Public Power Corporation S.A. Technical Analysis Chart | PPC | GRS434003000 | MarketScreener
Technical analysis trends PUBLIC POWER CORPORATION S.A.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 9,76 €
Average target price 13,86 €
Spread / Average Target 42,0%
EPS Revisions
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Georgios Stassis Chairman & Chief Executive Officer
Alexandridis Konstantinos Chief Financial Officer
George Venieris Independent Non-Executive Director
Despina Doxaki Independent Non-Executive Director
Stephanos Theodoridis Independent Non-Executive Director
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