Announcement for the sale of treasury shares
LAMDA Development S.A. (the Company), in accordance with the provisions of Greek Laws 3556/2007 and 3340/2005 in conjunction with the relevant decisions of Hellenic Capital Market Commission, announces that on 19.06.2014, based on a resolution of its Board of Directors of the same date, sold all the 3.497.599 treasury shares that held (representing a holding of 7,88% of the total shares and voting rights of the Company) to TPG-Axon Management LP for a total consideration of 16,963,355.15 corresponding to 4.85 per share. Following the above transaction the Company no longer holds treasury shares.
TPG-Axon Management LP is a global investment firm focused on fundamental long and short investing across the globe, primarily through equity securities. TPG-Axon Management LP provides services to high net-worth individuals, pension funds, banking institutions and other institutional investors. The firm is headquartered in New York with offices in Hong Kong and Tokyo. The participation of TPG-Axon Management LP in the equity capital of the Company offers multiple benefits to the Company and its shareholders in terms of business development, improved access to the international capital markets and therefore successful implementation of the Companys business strategy.
Following the consummation of the above transaction the Companys CEO Mr Odysseas Athanasiou made the following statement:
I am very happy with the participation of TPG- Axon Management LP in the Companys equity capital. The strategic participation of a global investment firm opens new horizons to the Company, not only in the international capital markets but also in other areas of strategic importance. This positive development is a further example of international investors giving credit and support to the growth prospects of the Greek economy.
