The Board of Directors of GAP VASSILOPOULOS PUBLIC LTD (the "Company"), at its meeting of today, discussed the Takeover Bid Document for the acquisition of up to 100% of the Company's share capital by Messrs. George, Aris and Petros Vassilopoulos which was approved by the Cyprus Securities and Exchange Commission.
According to the Takeover Bid Document, the consideration offered to the Company's shareholders who will accept the Takeover Bid is EURO 0.12 per share paid in cash.
The Board of Directors has appointed the independent audit firm BDO Ltd to examine the Takeover Bid Document and prepare an independent report on the Takeover Bid (the "Independent Opinion") pursuant to the provisions of article 33 of the Takeover Bids Law of 2007 as amended (the "Law").
The Board of Directors, after examining the Independent Opinion, will draft and publish a document which will comprise its justified opinion for the Takeover Bid ("Opinion of the Board of Directors"). The meeting of the Board of Directors will be held prior to 27 December 2018, date on which the aforementioned opinions will be communicated to the shareholders and investors of the Company pursuant to the provisions of Article 33 of the Law.