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Yesterday, the Kallitsantsi brothers acquired 4.06% of the Horizon investment fund, increasing their direct share of 27% in Ellador, against about 20% of MM. Bobolas and Koutras. At the same time, Mr. Bobolas, through an interview with Bloomberg, announced his intention to resign from his position as CEO in June 2019, subject to his presidency at the July 25 General Assembly.
The Kallitsantsi brothers have spent a total of 46 million euros over the last month to increase their stake in the "Eldorator" group and demand the vote of the other shareholders of the group for the implementation of their own plan without the presence of the other main shareholders ML Bobola and D. Koutra. Yesterday, another important transaction appeared, the Kallitsantsi brothers having acquired 4.06% of the Horizon investment fund, bringing to 27% the direct figure that they control in "Eldorator", against about 20% Bobbola and Koutra. The last transaction involved a total of 7,197,686 shares, while at a price of 2.15 euros / share, the cost amounted to 16 million euros. It should be noted that since June 13, when the Kallitsantsi brothers resigned from their leadership positions in the "Eldorator" group and introduced the Change4Ellaktor initiative, their group reorganization plan, they increased their rate participation of about 12% (Yesterday), the first purchase of shares (at least obvious) on the other side occurred yesterday, while Mr. Leonidas Bobolas bought 100,000 shares of # 39, worth 204,045 euros. Commenting on these latest moves, the Change4Ellaktor representative pointed out that "he wonders how Mr. Bobbolas will convince investors of the viability of his plan and the company when he is not ready to support himself by buying In another major development yesterday, Mr. Bobolas first announced, through an interview with Bloomberg, his intention to resign from his position as CEO in June 2019, or approximately 12 months since today, under condition of his presidency at the next general meeting of July 25. As he said, "I believe that with all that has been In the past, it would be fair to entrust the reins of the group to a professional general manager who will hire the new board of directors. "However, he added that he would like to remain a member of the Board without any executive role. [19659003] In response to Mr. Bobola's report, the representative of the initiativ e Change4Ellaktor noted that "after years of rejection of our management proposals and a series of reforms in the organization and operation of" Eldorator "and after reaching the point of characterizing the process of accountability of the leader of # 39; a listed company – the general meeting – a "coup de état", Mr. Bobolas finally understood the group has a good administration. "It complements the fact that it has engaged in the past in things that it has never materialized.In addition, the statement of resignation does not provide any details about the process of search for the CEO, "leaving the shareholders exposed to the risk that this post will be covered again by the friends and relatives of Mr. Bhopal." It is recalled that the Kallitsantsi brothers have also committed to resign from the board of directors after three years, during which they will supervise the implementation of the project they proposed
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