Extraordinary General Meeting of The Azur Selection Approves Acquisition of 51% of Latin Beach, a Luxurious Seaside Restaurant With Event Hosting Area and Beachfront Facilities on the Athenian Riviera

31 Dec 2024 08:46 CET

Regulatory News:

The Azur Selection (ISIN : GRS528003007 - Mnémonique : MLAZR), a Greek hotel company listed on the Euronext Access + market in Paris, announces the acquisition of 51% of the LATIN BEACH ATHENS P.C., approved by the Extraordinary General Meeting of December 24, 2024.

The shareholders of The Azur Selection, meeting in Extraordinary General Meeting, approved an increase in the share capital of the Company by EUR 1,199,323 through the issuance of 888,387 new shares (at an issue price of EUR 1.35 per share, corresponding to the last closing price on December 23, 2024, prior to the EGM date). The New Shares finance 51% of Latin Beach, previously held by Mr. Giorgios Arvanitakis, reflecting a valuation of EUR 2,351,613 for the total corporate shares of Latin Beach and it was based on the valuation report of Latin Beach, prepared in accordance with article 17 of Greek Law 4548/2018 and submitted to public disclosure.

Main Characteristics of the Capital Increase:

The subscription price per share was set at EUR 1.35, based on the closing price of the Company's shares on December 23, 2024. Each share, with a par value of EUR 1, will therefore be issued with a share premium of EUR 0.35. This capital increase comprises a par value of EUR 888,387 and a total share premium of EUR 310,936.

The minutes of the EGM are available in the investor section of the company's website: https://www.azurselection.com/investor-relations.

About Latin Beach ATHENS P.C.

Operating since 2022, Latin Beach has successfully completed a full renovation in early 2024, enhancing its offerings to become a premier destination on the stunning Athenian Riviera.

Strategically located in the southern suburbs of Athens, nestled between the luxurious Four Seasons Hotel and the exclusive One&Only Hotel, Latin Beach features a luxurious seaside restaurant with a seating capacity of 220, an expansive events area accommodating up to 1,000 guests, and an exclusive beach facility boasting 400 sunbeds along the coastline.

Latin Beach operates during the summer season from late April to early October, providing a unique blend of leisure and entertainment for all guests.

The Azur Selection will further develop the Company's activities by achieving and promoting its financial and operational interests in the long term and Latin Beach will benefit from The Azur Selection's annual support to further enhance its offering and provide an incomparable experience to all who visit.

About The Azur Selection

The Azur Selection is a leading Greek company specializing in the ownership, operation, development, and management of hotel and entertainment facilities. With a portfolio of several successful hotels in Greece, The Azur Selection has become synonymous with excellence in the hospitality industry. Since 2022, the company has been listed on the Access+ market of Euronext Paris under the code GRS528003007 and mnemonic code MLAZR.

https://www.azurselection.com/about-azur

View source version on businesswire.com: https://www.businesswire.com/news/home/20241230964204/en/

The Azur Selection
Chief Executive Officer
George Arvanitakis

NewCap
Investor Relations
Théo Martin
Tél. : +33 (0)1 44 71 94 96
theazurselection@newcap.eu

NewCap
Media relations
Nicolas Merigeau
Tél. : +33 (0)1 44 71 00 15
theazurselection@newcap.eu