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Hellenic Exchanges-Athens Stock Exchange S.A.
Major Shareholding Notification • Oct 20, 2025
2652_rns_2025-10-20_5f294e3b-d487-4626-9197-7f6915328b9e.pdf
Major Shareholding Notification
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Announcement
Trade notifications on EXAE shares (Law 3461/2006)
20 October 2025 – SANDGROVE CAPITAL MANAGEMENT LLP informed the Company in writing that through the fund(s) it serves as the investment manager or discretionary sub-advisor, it acquired exposure to the shares of the Company (symbol: EXAE, ISIN GRS395363005):
| No | Date of notification to ATHEX |
Transaction date |
Quantity | Financial instrument |
Position (shares) |
Position (%) |
|---|---|---|---|---|---|---|
| 1 | 17.10.2025 | 01.08.2025 | 228,465 | Equity swaps | 228,465 | 0.38% |
| 2 | 17.10.2025 | 04.08.2025 | 214,616 | Equity swaps | 443,081 | 0.73% |
| 3 | 17.10.2025 | 06.08.2025 | 60,404 | Equity swaps | 503,485 | 0.83% |
| 4 | 17.10.2025 | 07.08.2025 | 99,072 | Equity swaps | 602,557 | 1.00% |
| 5 | 17.10.2025 | 08.08.2025 | 25,000 | Equity swaps | 627,557 | 1.04% |
| 6 | 17.10.2025 | 12.08.2025 | 14,599 | Equity swaps | 642,156 | 1.06% |
| 7 | 17.10.2025 | 13.08.2025 | 50,000 | Equity swaps | 692,156 | 1.15% |
| 8 | 17.10.2025 | 14.08.2025 | 170,624 | Equity swaps | 862,780 | 1.43% |
| 9 | 17.10.2025 | 18.08.2025 | 89,376 | Equity swaps | 952,156 | 1.58% |
| 10 | 17.10.2025 | 19.08.2025 | 29,351 | Equity swaps | 981,507 | 1.63% |
| 11 | 17.10.2025 | 20.08.2025 | 60,649 | Equity swaps | 1,042,156 | 1.73% |
| 12 | 17.10.2025 | 30.09.2025 | 13,892 | Equity swaps | 1,056,048 | 1.75% |
| 13 | 17.10.2025 | 01.10.2025 | 50,786 | Equity swaps | 1,106,834 | 1.83% |
| 14 | 17.10.2025 | 06.10.2025 | 219,041 | Equity swaps | 1,325,875 | 2.20% |
| 15 | 17.10.2025 | 07.10.2025 | 174,150 | Equity swaps | 1,500,025 | 2.49% |
| 16 | 17.10.2025 | 08.10.2025 | 29,414 | Equity swaps | 1,529,439 | 2.53% |
| 17 | 17.10.2025 | 09.10.2025 | 11,595 | Equity swaps | 1,541,034 | 2.55% |
| 18 | 17.10.2025 | 10.10.2025 | 42,364 | Equity swaps | 1,583,398 | 2.62% |
| 19 | 17.10.2025 | 13.10.2025 | 134,053 | Equity swaps | 1,717,451 | 2.85% |
| 20 | 17.10.2025 | 14.10.2025 | 147,822 | Equity swaps | 1,865,273 | 3.10% |
| 21 | 17.10.2025 | 15.10.2025 | 137,660 | Equity swaps | 2,002,933 | 3.32% |
| 22 | 17.10.2025 | 16.10.2025 | 413,207 | Equity swaps | 2,416,140 | 4.00% |
Following the above transactions, SANDGROVE CAPITAL MANAGEMENT LLP has exposure to 2,416,140 shares through an equity swap position, which is equivalent to 4.00% of the total shares outstanding.
SANDGROVE CAPITAL MANAGEMENT LLP does not control the voting rights for this holding.
The notification of EXAE trades takes place in accordance with art. 24 of law 3461/2006 due to the tender offer by Euronext to acquire all shares of the Company (EXAE) through a share exchange.