Mytilineos: Pre-announcement for listing on the London Stock Exchange with dual listing

The impressive ones its financial results Mytileneos and the continued development of her extroversion, with most of the large projects it now manages being carried out outside Greece, pave the way for introduction to large stock exchange of abroad with dual listingas the company is not leaving Greece.

According to her announcement, in fact, Mytileneos “is considering listing its shares on an international stock exchange, incl of the London Stock Exchange, within the next 12-18 months,” redefining its strategic goals, as the company also aims for its inclusion in the index FTSE-100 of the LSE, as experienced market executives explain.

On the occasion of this announcement of the “strategic review” – which fell like a… bomb on the market although many expected such a move given success of Mytilineos in projects implemented abroad – company sources explain how it is not a transfer of headquarters, as Mytilineos lives in Greece and this is where its headquarters will remain. However, “the further internationalization of the company will return value to Greece and is another vote of confidence in the Greek economy”, noted the same sources.

As mentioned in the official announcement: “Regardless of the outcome of this strategic evaluation, MYTILINEOS remains committed to its contribution to the Greek economy and society, with important and robust activities in Greece, the generation of tax revenues and with the expectation of maintaining its presence on the Athens Stock Exchangewhere MYTILINEOS has been listed since 1995″.

Mytilineos will remain on the Greek stock market, because it does not wish to be alienated from its headquarters and its Greek shareholders – sources with knowledge of the processes report – nor to change the Greek temperament of business flexibility and inventiveness, which successfully characterizes itself and its executives, as is also pointed out in today’s announcement.

However, the company is now focusing on evaluating various organic and inorganic growth opportunitiesexamination of the capital allocation model, but also of the optimal balance sheet structure (capital structure), something that was probably necessary – say experienced market people – in order to further strengthen the development path and increase the value for shareholders , as it now moves in sizes competitive with large European companies.

The announcement

Having consistently and repeatedly exceeded its medium-term and strategic goals, MYTILINEOS Energy & Metals (“MYTILINEOS”) has launched a review and evaluation of the strategic optionsin collaboration with its financial, legal and tax advisors, with the aim of continuous development and the creation of value for its shareholders.

As part of this comprehensive strategic review, MYTILINEOS will evaluate various organic and non-organic growth opportunities, its capital allocation model, its optimal balance sheet structure and more convenient structure trading of its shares in an organized market (listing structure).

MYTILINEOS commits for further international developmentutilizing its established and diversified geographical presence and always relying on its Greek heritage, its inventiveness and its entrepreneurial spirit, in the context of a strong corporate governance environment.

He examines the London Stock Exchange

In this context, MYTILINEOS is considering listing its shares on an international stock exchange, including the London Stock Exchange, within the next 12-18 months, taking into account its increasingly diversified and international geographical presence and aiming to increase the marketability of the share for the benefit of investors.

Regardless of the outcome of this strategic review, MYTILINEOS remains committed to its contribution to the Greek economy and societywith significant and robust operations in Greece, generating tax revenue and with the expectation of maintaining its presence on the Athens Stock Exchange, where MYTILINEOS is listed by 1995.

MYTILINEOS has achieved a significant transformation during the last years, which is also highlighted by the revenues and profitability that have now increased to the levels of a major European company. MYTILINEOS seeks to further strengthen its already wide international scope as well as its already strong domestic position.

This evaluation of its strategic options is intended to ensure that MYTILINEOS will maintain its growth trajectory, remaining fully aligned, in all business areas, with its long-term strategic vision, while maximizing the value created for shareholders.

H Citigroup Global Markets Europe AG and the Morgan Stanley & Co. International plc act as financial advisors to MYTILINEOS in evaluating its strategic options. H Clifford Chance LLP acts as international legal counsel. THE Zepos & Giannopoulos acts as legal advisor under Greek law.

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