2024

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Announcement regarding important business developments

The Company “INTRAKAT SOCIETE ANONYME TECHNICAL AND ENERGY PROJECTS”, under the distinctive title “INTRAKAT”, hereinafter referred to as the “Company”, informs the investors, in accordance with Regulation 596/2014 of the European Parliament & Council and the ATHEX Exchange Rulebook, of the following:

  1. INTRAKAT announces the signing of a binding Framework Agreement (Framework Agreement) with the company named “Prodea Real Estate Investment Company Société Anonyme” and with the distinctive title “Prodea Investments” (“Prodea”), according to which INTRAKAT is to acquire a portfolio of properties with a total value of approximately €600 million, which generate annual rental income of approximately €41.5 million, owned by Prodea (the “Transaction“). The Framework Agreement outlines the procedure for the completion of the Transaction, which is expected to be finalized, provided that the stipulated contractual conditions and other customary conditions and approvals for similar transactions are met, with the signing of the final legal documents, by May 31st, 2025. The parties may extend the deadline for completion of the Transaction by mutual agreement.
  2. INTRAKAT announces the conclusion of two (2) binding Private Agreements – Memoranda of Understanding (Memorandum of Understanding) for the acquisition from multiple sellers of renewable energy production project portfolios, both under construction and of varying degrees of development and licensing maturity, which include: A. (i) 114 photovoltaic power stations with a total capacity of 100 MWp in the Regional Unit of Phthiotis, and (ii) 8 onshore wind power stations with a total capacity of 32.4 MWp in the Regional Unit of Aetolia-Acarnania, totaling 132.40 MW (“PHASE A Projects“) and B. (i) Photovoltaic power stations with a total capacity of 247.9 MWp, which are being developed in various locations within the boundaries of the Regional Units of Serres and Aetolia-Acarnania, (ii) wind power stations with a total capacity of 15.6 MW, which are being developed in various locations within the boundaries of the Municipal Unit of Apodotia, Municipality of Nafpaktia in the Regional Unit of Aetolia-Acarnania, and (iii) wind power stations with a total capacity of 166.8 MW, which are being developed in various locations within the boundaries of the Municipal Units of Apodotia, Palairos, Alyzia, Anaktorio, and Pyllini, within the Municipalities of Nafpaktia, Aktio-Vonitsa, Xiromero, Aktio-Vonitsa, and Nafpaktia, respectively, in the Regional Unit of Aetolia-Acarnania (“PHASE B Projects“). For the acquisition of PHASE A Projects, the price is set at €960,000/MW for the photovoltaic projects and €290,000/MW for the wind projects, for a 100% share acquisition in the companies developing the projects. The final price will be calculated on a cash free – debt free basis, and therefore the Company will pay the difference between the existing financing and the total price. For the acquisition of the PHASE B Projects, the price is set at €150,000/MW for the acquisition of a percentage of 100% in the companies – project holders developing the Phase B PV Projects, and €252,000/MW for the acquisition of a percentage of 100% in the companies – project holders developing the Phase B wind Projects. The aforementioned price has been agreed to be paid in installments upon the achievement of specific project milestones. The above agreement is subject to customary conditions and approvals for similar transactions. The completion of the transaction is expected by February 15, 2025.
  3. INTRAKAT announces the signing of a Memorandum of Understanding (MoU) with the construction company named “ENTELECHEIA PRIVATE COMPANY” and trade name “ENTELECHEIA P.C.” (“Entelecheia”) and its partners, who represent 100% of Entelecheia’s paid-up share capital, regarding the acquisition, either by the Company or by an affiliated entity, of a 50.1% share of Entelecheia’s equity, a company specializing in the construction of network infrastructures. The total valuation of Entelecheia is evaluated at €60 million (subject to potential adjustments). The purchase price for the acquisition of 50.1% of Entelecheia by the Company shall not exceed €30.06 million and will be credited and paid in three equal annual installments. The acquisition is expected to be completed by the end of the first quarter of 2025, subject to the fulfillment of customary conditions.
  4. INTRAKAT announces the signing of a Memorandum of Understanding (MoU) with shareholders representing 100% of the paid-up share capital of société anonymes and private companies (the “Companies”) within the Oceanic Group of Companies, which operate in the sector of security and facility management services for the acquisition, either by the Company or by a controlled entity, of shares representing 55% of the Companies’ share capital for a total price of €7.7 million, with an option to acquire the remaining 45% of the Companies’ share capital over a three-year period from the signing date for €6.3 million. A corresponding put option is also provided to the sellers, allowing them to sell their remaining shares at the same valuation. The proposed transaction, among other conditions, is subject to the customary approvals for similar transactions and is expected to be completed by 20/12/2024. The repayment of the total price for the above acquisition is expected to take place by the end of February 2025.