Hellenic Bank on Monday announced that its board of directors will convene on Wednesday, May 7, 2025 to examine, among other things, the financial results of the group for the first quarter of 2025.

Following the board meeting, the first quarter financial results will be made public.

“The financial results for the first quarter of 2025 will be announced to the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission on Thursday, May 8, 2025, before the opening of the market,” the announcement said.

It should be noted that Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., announced on Friday that it has completed the procedure regarding the mandatory takeover bid for the acquisition of up to 100 per cent of the issued share capital of Hellenic Bank Public Company Limited, which had been submitted on February 11, 2025.

Following the final review of the acceptance and transfer forms, the total acceptance percentage of the takeover bid reached 4.525 per cent, as valid acceptance and transfer forms were submitted for 18,678,262 shares of the target company.

Combined with the 93.470 per cent stake (385,847,001 shares) that Eurobank already held directly at the expiry of the takeover bid on April 9, 2025, its total participation has now risen to 97.994 per cent (404,525,263 shares) of the issued share capital of Hellenic Bank.

For all shareholders who accepted the takeover bid, payments were executed through bank transfers and the posting of cheques on April 24, 2025.

Eurobank also proceeded with the off-exchange transfer of the securities through the underwriter operator, the Cyprus Investment and Securities Corporation Limited (CISCO).

Further to the announcement published on April 11, 2025, regarding the result of the takeover bid, Eurobank said that it intends to exercise the squeeze out right provided by Article 36 of the Takeover Bids Law of 2007 to 2022.

This will enable Eurobank to acquire 100 per cent of the shares of Hellenic Bank at a price of €4.843 per share.

The right may be exercised within three months from the end of the acceptance period of the takeover bid, and Eurobank said that it intends to exercise this right immediately.