CLARIFICATIONS REGARDING OUR COMPANY’S PRESS RELEASE OF 21.5.2010 IN RELATION TO THE AGREEMENT SIGNED BETWEEN OUR SUBSIDIARY «DIAKINISIS S.A.» AND «COSCO PCT»
Following the Capital Market Commission’s query (by receipt of the 25.5.2010 letter, registration no. 2082) and in continuation of the 28.4.2010 and the 21.5.2010 Company’s announcements and with our principles orientated to the accurate and as complete as possible briefing of the investing public, according to the orders of Decision 3/347/12.7.2005, we inform the investing public of the following:
a) The aforementioned contract has been singed between «COSCO PCT» and «DIAKINISIS S.A.» having the ability to be transferred within any subsidiary company of ELGEKA GROUP.
b) The subject of the contract is the provision of loading / unloading and arrangement services of containers that take place in pier II of the Port of Piraeus. The corresponding charge for the previously mentioned services is defined by the number of occupied employees and the nature of requested activities based on the mutually agreed pricelist.
c) The contract has a duration of two years and will be automatically renewed annually unless a written complaint is communicated six months prior to the end of the contract by one of the related parties.
d) Taking into account the recent engagement of «COSCO PCT» in relation to the administration of pier II of the Port of Piraeus, it is highly unlikely at the moment to estimate any quantitative figures related to the aforementioned contract. The factors affecting these figures are: 1) The estimated managed containers, 2) Requested type of services, 3) Seasonality of provided services based on managed containers, 4) Expertise of the occupied workforce, etc.
The Management of both parties are in constant cooperation in order to assess all of the above with acceptable accuracy and in case the provision of any quantitative information is feasible, it will be announced to the investing public.