Regulatory Information – Notification of acquisition of major holdings pursuant to Law 3556/2007

Papoutsanis S.A. (the “Company”) hereby announces in accordance with the provisions of Greek Law 3556/2007 and following the notification received by Truad Verwaltungs A.G. on 21/10/2020, that the percentage of voting rights controlled by Truad Verwaltungs A.G. in its capacity as a professional trustee of a private discretionary trust established for the primary benefit of the present and future members of the family of the late Anastasios George Leventis (the “Trust”), through a chain of controlled companies, was increased to 21.2826% from 5.5093% which it held before that date. 

In particular, Thrush Investment Holdings Limited, controlled by Truad Verwaltungs AG (through the chain of controlled companies mentioned below) on 21.10.2020 acquired 3,961,982 common voting registered shares corresponding to equal number of voting rights. Therefore, the percentage of voting rights controlled by Thrush Investment Holdings Limited was increased to 21.2826% (corresponding to 5,345,838 voting rights and equal number of common voting registered shares) from 5,5093%  (corresponding to 1,383,856 voting rights and equal number of common voting registered shares) which it held before that date. 

In view of the above, Truad Verwaltungs A.G in its capacity as trustee of the Trust controls 21.2826% of the total number of the voting rights of the Company (corresponding to 5,345,838 voting rights and equal number of common voting registered shares) through a chain of controlled undertakings i.e. Truad Verwaltungs A.G controls such voting rights, through control of Torval Investment Corp., which controls Lavonos Ltd, which controls Thrush Investment Holdings Limited, which holds:

a) directly 5,047,811 voting rights of the Company corresponding to 20.0961% of the total number of voting rights of the Company; and

b) indirectly, though controlling Eagle Enterprises S.A., 298,027 voting rights of the Company corresponding to 1.1865% of the total number of voting rights of the Company.

Truad Verwaltungs AG controls and exercises the above voting rights at its discretion without receiving any specific directions or instructions by the beneficial owners of the Trust or any other person and there is no other person who controls (within the meaning of Greek law 3556/2007) Truad Verwaltungs AG.