17 February 2017

Commencement of absorption of two subsidiaries by J&P-AVAX

In line with Law 4374/2016, J&P-AVAX SA announces that the Board of Directors of «J&P-AVAX SA», «E-Construction SA» and «PROET SA, the latter two companies constituting 100% subsidiaries of the former, decided to commence their merger through the absorption of «E-Construction SA» and «PROET SA» by «J&P-AVAX SA».

The merger will be carried out in accordance with article 78 of Law 2190/1920, article 54 of Law 4172/2013 and article 61 of Law 4438/2016, and is subject to approval by the relevant authorities.

The merger will be based on financial statements dated 31.12.2016.

The planned merger is not expected to have a significant impact on the financial figures of listed company J&P-AVAX SA.

Marousi, February 17, 2017