Hellenic Exchanges S.A. Group Restructuring


With a view to improving the Group’s organizational structure, in line with international industry practices and upcoming requirements resulting from the implementation of the EMIR Regulation and the European Committee’s Regulation concerning improvements in securities’ settlement within the European Union and the Central Securities Depositories – CSDs Directive, the Boards of Directors of Hellenic Exchanges Group companies “Hellenic Exchanges S.A. Holding, Clearing, Settlement and Registry”, “Athens Exchange S.A.”, “Thessaloniki Stock Exchange Centre S.A.” and the “Athens Exchange Clearing House S.A.” took the decisions relevant to the restructuring of the Group.

Following completion of the Group restructuring, in line with the structure adopted by international integrated exchange groups, the listed entity will tender the services of Athens Exchange and will own 100% of the Central Securities Depository which will operate the Dematerialized Securities System and the Exchange’s Clearing House.

The date of the restructuring accounts has been set to be June 30th 2013. The relevant decisions are subject to approval by the Shareholders’ General Meetings of the companies mentioned above, which are scheduled to take place within 2013.

The Group restructuring will not have an effect on the consolidated results of the Group, whereas it will result in the improved cash and capital adequacy which is required for AthexClear under EMIR Regulation, the more effective cost/ result allocation among Group companies and the transfer of liquidity to the listed entity.