Announcement of resolution regarding the change of use of raised funds

Pursuant to L. 3016/2002 and par. of the Athens Stock Exchange Regulations, LAMDA Development S.A. (the “Company”) hereby inform the investing public that its Board of Directors decided, at the meeting of the 24th May 2015 and approved by the Company’s Ordinary General Meeting on 16.06.2015) to a partial change of use of funds raised from the Company’s share capital increase was decided under the resolution of the Extraordinary General Meeting of Shareholders dated 29 April 2014, which funds amounted to the net amount of 146.1 million Euro (150 million Euro total revenue, minus 3.9 million issue costs).
With a view to continuing the implementation of the Shareholders’ General Meeting resolution dated 16.06.2015 of the purchase of own shares until 16.06.2017 and up to one-tenth (1/10) of the each time total paid-up share capital, for a minimum purchase price equal to the par value of the share, to wit, 0.30 Euro, and a maximum purchase price equal to 10.00 Euro per share, the Board of Directors decided at the meeting of 24.05.2016:
To include a new forth (d) category of intended uses of raised funds, entitled “Acquisition of Own Shares”, with an aggregate expense amount of up to seven million Euro (EUR 7,000,000) and with an equal reduction of the third (c) category of raised funds intended issues.
For the rest, the provisions of section 4.2 (Use of Raised Funds) of the Prospectus, as approved by the Hellenic Capital Market Commission, shall apply, with no further modification.
This decision is subject to the approval of the forthcoming Ordinary General Meeting of the Company’s Shareholders.