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ATHENS - Hellenic Telecommunications Organization S.A. (OTE) announced Friday it will cancel 8,840,446 of its own shares on July 22, reducing its share capital by €25,018,462.18.
The cancellation follows a decision by the company’s Ordinary Shareholders’ General Meeting held on June 23, 2025, in accordance with article 49 of Law 4548/2018. The shares being canceled have a nominal value of €2.83 each.
OTE acquired these shares between June 3, 2024, and April 30, 2025, at an average purchase price of €14.83 as part of its Share Buy Back Program approved by shareholders in November 2023.
Following the cancellation, OTE’s share capital will decrease to €1,142,904,349.41 from €1,167,922,811.59, with the total number of registered shares reducing to 403,853,127 from 412,693,573.
The Ministry of Development has approved the corresponding amendment to article 5 of the company’s Articles of Incorporation on July 14, 2025, with the change registered in the General Commercial Registry on the same day.
The Athens Stock Exchange (ATHEX) was notified of the share capital reduction on July 17, 2025. Trading of the canceled shares will cease on July 22, 2025, when they will be officially deleted from the exchange.
The announcement was made through a press release issued by the telecommunications company.
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