Sidma Steel Products : Announcement according to the article 4.1.4.4 of ASE Rulebook

Press Release of SIDMA S.A.

Athens, 27th April 2017 Announcement pursuant to paragraph 4.1.4.4 of ASE Rulebook

In the context of publication of the financial statements for the period 01.01.2016 - 31.12.2016 of SIDMA S.A. (hereinafter the "Company"), in pursuance of paragraph 4.1.4.4. of ASE Rulebook, the Company informs investors that all its shares were transferred to the category "Supervision" on 10.04.12 by virtue of the decision of ASE BoD dated 05.04.12, in pursuance of Article 3.1.2.5 of ASE Rulebook, because the book losses of the fiscal year ended on 31.12.2011 stood at a level higher than 30% of the Company's equity.

Pursuant to Article 3.1.2.6 (1), (4) and (6) of ASE Rulebook, company shares may be eligible again for regular trading insofar as the conditions laid down in paragraph 4 (a), (b), (c) are met, following application of the issuer and on the basis of the financial statements of each calendar half year.

2016 was not a year of growth for the Greek economy, while 2017 is in anticipation of the economic developments regarding the settlement of the Greek debt, which will correspondingly affect the course of growth of the industry in which we operate. In this uncertain and difficult economic environment, SIDMA further improved its market share in 2016, increased its operational profitability and dramatically improved its results at both parent company and Group levels.

The Group's liquidity amounted to € 7.3 million. In recent years, the company's Management has taken a series of actions that involve reducing the Group's operating costs drastically as well as bolstering up the structure of its operating activities. The cost reduction achieved since the beginning of the crisis is more than 45%. This reduction pertains to a cut in wage costs and expenses, the restructuring of structures and the limitation of supporting expenditure, without affecting the smooth operation of the Group.

Last but not least, the company's Management is taking a series of actions in order to bolster up the Group's liquidity and financial position, including among others the disposal of assets and the improvement in the percentage of gross profit, as mentioned above.

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