ΓΔ: 882.44 0.37% Τζίρος: 3.95 εκ. € Τελ. ενημέρωση: 11:25:37 ΣΤΟΙΧΕΙΑ ΑΓΟΡΑΣ
Ellaktor-Erga-Ypodomes_Dromos
Φωτο: Ελλάκτωρ

Shareholders keep up the fight over Ellaktor despite summer lull

The new shares from the group’s 120.5 million euro share capital hike started trading on the Athens bourse on Friday and the mobility was particularly intense, outlining the ongoing conflict between the main shareholders although the session’s total trading was sluggish (32.476 million euros) ahead of the August 15 break.

Even in the quiet days leading up to August 15, the intensity of the dispute between Reggeborgh and shipowners over control of Ellaktor is not easing up, as shown by the high value of transactions and the rise of the share price yesterday, the first day of trading for the company's new stocks.

The differences between the stakes held among investors is now marginal, as the Dimitris Bakos – Giannis Kaimenakis side controls 29%, compared to about 31% controlled by Reggeborgh, including the call option for 3.187% of the shares.

The new shares from the group’s 120.5 million euro share capital hike started trading on the Athens bourse on Friday and the mobility was particularly intense, outlining the ongoing conflict between the main shareholders although the session’s total trading was sluggish (32.476 million euros) ahead of the August 15 break.

In particular, the trading volume of the day reached 3,972,029 shares with a value of 5,682,618,597 euros, an amount that corresponds to 17.5% of the total market transactions and landed  Ellaktor in top place among stock transaction levels.

Included in Friday's transactions is a package of 916,566 shares, which changed hands for 1,422 euros, in a transaction worth 1,303,343 euros.

The strong mobility shows that even after the completion of the share capital increase, the two opposing sides are likely to continue strengthening their position on the market, while the percentage differences have been reduced to a minimum. At yesterday's meeting, some sources say that Reggeborgh was buying stocks.

According to yesterday's announcement from Ellaktor, the side of D. Bakos and G. Kaimenakis, through their companies (Greenhill, Iceberg Capital, Kiloman) increased their stakes to approximately 29.0078%. With this percentage, they are now very close to the 31.15% controlled by Reggeborgh, if the call option is taken into account for 3.187% of the shares.

Although the participation of the two shipowners in the capital increase and the further strengthening of their position in the shareholding structure confirms that the group will continue to have two almost equally strong major shareholders, so far there are no indications that they will soon reach an agreement to resolve their differences.

Instead, on Tuesday, August 17, the dispute will escalate at the Court of First Instance, where the owners' request for interim measures is expected to be discussed for the cancellation of the general meeting of shareholders on June 22, where the share capital increase was approved on the grounds that they were not illegally allowed to exercise voting rights for shares held as collateral by the Farallon company.

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