MALLOUPPAS & PAPACOSTAS GROUP
20 December 2023
SUPPLEMENTARY ANNOUNCEMENT REGARDING THE OPINION DOCUMENT OF THE BOARD OF DIRECTORS
In accordance with Article 33(2)(a) of the Public Takeover Bids Law of 2007 to 2022, with regard to the public bid by Messrs. Polys Mallouppas, Liza Mallouppa, Andreas Mallouppas, Maria Mallouppa, Costas Papacostas and Chrystalla Papacosta (the "Offerors") for the acquisition of up to 100% of the issued share capital of the Offeree Company (the "Public Bid"), the Board of Directors of Mallouppas & Papacostas Public Co Limited (the "Offeree Company") wishes to inform investors that it has taken into consideration the strategic plans of the Offerors as referred to in the document of the Public Bid which include, inter alia, the continuation and development of the activities of the Offeree Company as a non-listed public company, that they do not intend to modify the object of the activity or the place of conduct of the activities of the Offeree Company, that they do not intend to introduce, unilaterally, substantial changes to the current employment policy or the level and terms of employment, that they may consider in the future a restructuring of the Offeree Company's activities aiming at the smoother and more efficient operation of the Group without affecting the nature of the Offeree Company's activities, and considers that the implementation of the Public Bid and the strategic plans of the Offerors will not impact employment or affect the employment of the Offeree Company's existing staff or the place of conduct of its activities.
The above must be read together with the Board of Directors' Opinion Document, as announced on 19 December 2023 on the website of the Offeree Company (www.mppublic.com) and of the CSE (www.cse.com.cy).
MPT Secretarial Services Ltd