Geraniou Development Properties will be fully absorbed by Orilina Properties, the company announced.
According to the listed company’s announcement, as the subsidiary will be wholly absorbed, there will be no share exchange or increase in Orilina’s share capital, which will remain unchanged.
More specifically:
“Orilina Properties (the ‘Absorbing Company’), with its registered office at 59 Vasilissis Sofias Avenue, postcode 11521, Athens, GEMI 148547901000 and Tax Identification Number 801077433, KEFODE Attica Tax Office, announces, pursuant to Article 17 of Regulation (EU) 596/2014, Law 4601/2019 and paragraphs 4.1.1, items 5 and 6, of the Rulebook of the Athens Exchange, that on 13.10.2026 the boards of directors of the company and its wholly owned subsidiary Geraniou Development Properties (the ‘Absorbed Company’), with its registered office at 30 Geraniou Street, postcode 10552, Athens, GEMI 176501401000 and Tax Identification Number 802446056, KEFODE Attica Tax Office, resolved to merge the latter into the former by way of absorption (the ‘Merger’). The Merger is governed by Articles 7–21 and 35 of Law 4601/2019 and Articles 41–64 of Law 5193/2025, as in force. The transformation balance sheet date has been set as 30.09.2026.
By virtue of resolutions adopted by their boards of directors on 22.10.2026, the companies drew up and signed the merger agreement plan dated 22.10.2026 (Article 7 of Law 4601/2019), which was filed and published in the GEMI registers of the Absorbing Company under registration number [6278027] and the Absorbed Company under registration number [6278115]. The documents referred to in Article 11(1)(a)–(c) of Law 4601/2019 will be available, in accordance with Article 35(2), at least one month before completion of the Merger, on the relevant website.
Under Article 35(2) of Law 4601/2019, approval by the general meetings is not required provided the conditions in items (a) and (b) are met, subject to paragraphs 3 and 4. If no such request is submitted, the Merger is expected to receive final approval from the boards of directors of the two companies.
As the Absorbing Company owns 100% of the Absorbed Company’s shares, there will be no share exchange or increase in the share capital of the Absorbing Company, which will remain unchanged.
Completion of the Merger is subject to the required corporate and administrative approvals, including approval by the competent GEMI service, and compliance with the publication formalities.
The Absorbing Company will keep the investment community informed of any developments in the Merger process.”.