Sfakianakis : Announcement according to paragraph 4.1.4.4 of ATHEX Regulation

13/04/2017 - Announcement according to paragraph 4.1.4.4 of ATHEX Regulation

SFAKIANAKIS S.A. within the framework of publication of the Annual Financial Statements for the period 01.01.2016-31.12.2016 and pursuant to par. 4.1.4.4 of the ATHEX Rulebook informs the investing public on the following:

The Board of Directors of the Athens Stock Exchange during its meeting held on 05.04.2012, decided the transfer of Company's shares to the "Under Supervision" category since 05.04.2012, on the grounds that in the Annual Financial Report of 31.12.2011 losses exceeded the 30% of equity.

The efforts of Company's Management to encounter the causes that led to the inclusion of the category of Surveillance continue to focus on the further improvement of market share, financial figures and the reorganisation of the Company and the Group. More specifically, the merger of the subsidiary Executive Lease S.A. by Sfakianakis S.A. completed during the year aims at maximizing synergies between sectors related to car.

The result of this systematic effort is the significant improvement of figures with loss before tax presenting improvement by € 11.0 mil. for the Group and € 21.3 mil. for the Company.

Management believes that improved trade performance continues to show the Sfakianakis Group in an extremely difficult year for the Greek economy combined with the gradual recovery of the market will soon lead to further improvement of its financial results.

Company's Management believes that the improved trade performance that Sfakianakis Group of Companies continues to present in another extremely difficult year for the Greek economy combined with the gradual recovery of the market will soon lead to further improvement of its financial results