Statement of Mr. Antonis Maniadakis - New offer per share for HELLENIC SEAWAYS' share holders

On the occasion of MINOAN LINES’ public offer towards the shareholders of the company HELLENIC SEAWAYS, we would like to inform them that MINOAN LINES will continue buying at the price of € 4 per share from today and until the assumption of responsibility of its management.

 

Please note that the said price is four times higher than the book value of the share.

 

Today, MINOAN LINES’ stake in the share capital of HELLENIC SEAWAYS has reached 47.40% and as the first shareholder of this company we urge all shareholders to support this effort of ours in the upcoming Annual General Assembly of HELLENIC SEAWAYS to be held on Wednesday, June 15, 2016.

This strategic move of MINOAN LINES will lead to a) the successful restructuring of the Greek coastal shipping with the creation of economies of scale and the assurance of financial stability, b) the upgrading of the quality of services provided to passengers / partners at competitive prices and c) the maintaining of all the unprofitable shipping lines and the entire commercial network of the company, always showing respect to the existing agreements with the Ministry of Maritime Affairs and Insular Policy.

 

Through this important business initiative of MINOAN LINES, both the smooth operation of HELLENIC SEAWAYS and its long-term stable economic course and development can be ensured.

 

Heraklion, 9 June 2016