Extension of payment date of the consideration balance concerning the transferred property, based on a sale and purchase agreement, of the fully owned subsidiary (100%) Thrace Linq Inc


“THRACE PLASTICS HOLDING COMPANY COMMERCIAL SOCIETE ANONYME“ following the relevant announcements on 24/04/2020, 18/06/2020 and 28/08/2020, regarding the transfer, as a result of the sale, by its 100% subsidiary Thrace Linq Inc

The Societe Anonyme under the name “THRACE PLASTICS HOLDING COMPANY COMMERCIAL SOCIETE ANONYME“ with the distinctive title “THRACE PLASTICS CO S.A.” (called as “Company” hereafter), pursuant to the provisions of Article 17 of (EU) Regulation No. 596/2014 of the European Parliament and of the Council as of 16 April 2014, and following the relevant announcements on 24/04/2020, 18/06/2020 and 28/08/2020, regarding the transfer, as a result of the sale, by its 100% subsidiary Thrace Linq Inc., of its privately owned industrial property located in South Carolina, USA, after the final cessation of the production activity of the above subsidiary, informs the investor community that it has been agreed between the parties engaged into the above sale and purchase agreement, that the repayment of the remaining part of the consideration (as well as the corresponding interest and related expenses), which was set to take place until June 15, 2021, to be extended for a period of two (2) months (i.e. until August 15, 2021). This extension was agreed as necessary due to the time-consuming process of refinancing the existing loans of the Buyer, related to the specific transaction.

All other terms and provisions of the above sale and purchase agreement of the industrial property, as mentioned in the above announcements, are still in full force.