The prosecutor intervened in the matter of increasing the authorized capital of DEI

The intervention of the Financial Prosecutor Christos Bardakis was caused by publications regarding an illegal increase in the authorized capital of the state-owned company DEN, which was announced in the previous days.

The prosecutor issued an order for a preliminary investigation, whether there is a criminal conspiracy, corruption component or the issuance of insider information in this case.

The materials of the case, which will be formed within the framework of the prosecutor’s investigation, will be linked to the report submitted earlier this week to the prosecutor’s office of the Supreme Court by six lawyers.

They remind that their own report is based on what has been made public on the matter, and they ask the judiciary to investigate whether crimes such as manipulation of quoted shares have been committed, as well as possible crimes.

Finally, it is worth noting that the publications attached to the report by lawyers mention, among other things, “a decrease in the share of DEN from September 13 until the day of the announcement of an increase in the authorized capital for no apparent reason” and suspicions that become almost indisputable “for insider trading ( inside information) “.

September 24 became knownthat the state-owned electricity company DEI (PPC) will complete its share capital plan of around 750 million euros by early November, following a decision by its board on Thursday. At the same time, state participation in the company will decrease by 17%.

Final approval of the plan will be given by DEI shareholders at a general meeting scheduled for October 19, while the board of directors has already begun contacts with international investors and has noted significant interest in the plan.

The raised money will be used to finance the DEI investment program, which should reach 8.4 billion euros by 2026. According to the plan, a capital increase scheme is recommended to exclude shareholder rights, although a distribution mechanism can be used to offer new shares to existing shareholders, according to the state news agency Amna.

According to naftermporiki, the increase in authorized capital is likely to be combined with a reduction in government participation: from 51%, which it controls in the PPC (Superfund 34%, HRDH 17%), to the minimum decisive percentage, at 34%.

Final approval of the plan will be given by DEI shareholders at a general meeting scheduled for October 19, while the board of directors has already begun contacts with international investors and has noted significant interest in the plan.

The raised money will be used to finance the DEI investment program, which should reach 8.4 billion euros by 2026. According to the plan, a capital increase scheme is recommended to exclude shareholder rights, although a distribution mechanism can be used to offer new shares to existing shareholders, according to the state news agency Amna.

According to naftermporiki, the increase in authorized capital is likely to be combined with a reduction in government participation: from 51%, which it controls in the PPC (Superfund 34%, HRDH 17%), to the minimum decisive percentage, at 34%.





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