Conclusion of Settlement procedure with Competition Committee
Further to the response dated 14.10.2016 to a query by Greece’s Capital Markets Commission, J&P-AVAX SA informs the investment public that its management decided to accept the settlement offered by Greece’s Competition Committee in relation to an investigation which started in February 2013.
According to this settlement, the Company will pay the amount of €18.3 million to the Greek State. It should be noted that the company has already fully provisioned this amount in its published 2016 financial results.
Management accepted the settlement as being beneficial to its interests to avoid a protracted period of legal and financial uncertainty.
To this extent, Company management views the conclusion of this case as serving the interests of J&P-AVAX Group, its shareholders as well as the country itself, allowing smooth conclusion of a number of important projects which are co-financed by the European Union and securing thousands of jobs.
Marousi, August 03, 2017
THE BOARD OF DIRECTORS