The Azur Selection Announces the Results of Its Extraordinary General Meeting

19 Feb 2025 18:00 CET

Regulatory News:

The Azur Selection (ISIN: GRS528003007 - Ticker: MLAZR), announces the results of its Extraordinary General Meeting, which was held on February 6, 2025, at the company's headquarters in Voula (Greece).

Following the Extraordinary General Meeting, several resolutions were adopted concerning in particular the decisions to increase the company's share capital. The points decided are:

1. The power has been delegated to the Company's Board of Directors to decide (a) on the increase or increases in the Company's share capital in accordance with Article 24, paragraph 1 (b) of Law 4548/2018, up to fifteen million euros (€15,000,000.00) for a period of three (3) years from the date of the decision of the Extraordinary General Meeting and (b) the removal of the pre-emptive rights of the Company's existing shareholders in accordance with Article 27(4) of Law 4548/2018 in favor of “LDA CAPITAL GROUP, LLC” in execution of the relevant terms of the Company's agreement with the investment entity above.

2. Several capitalization measures of the Company have been adopted - in accordance with Article 56 of Law 4548/2018 - for the issuance of Company share acquisition warrants and their allocation to “LDA CAPITAL GROUP, LLC” in accordance with the relevant terms of the Company's agreement with the aforementioned investment entity with the removal of pre-emptive rights of existing shareholders of the Company in accordance with the provisions of Article 27 of Law 4548/2018. It was decided to issue 733,559 share acquisition warrants, entitling holders to subscribe to 733,559 shares at a price of €3.625 per warrant, which may be revalued.

3. A capital increase by contribution in kind of 49% of the share capital of the company LATIN BEACH ATHENS P.C. by Mr. Georgios Arvanitakis has been voted. The valuation report has been approved in accordance with Article 17 of Law 4548/2018. In addition, Article 5 of the Company's Articles of Association, relating to the amount of share capital, has been amended.

The capital increase by contribution in kind of 42% of the share capital of the company A MYKONOS HOTEL IKE by Mr. Arvanitakis could not be approved because the valuation report on this contribution could not be finalized. This item has been postponed to a future General Meeting.

4. As Mr. Arvanitakis, subscriber to the above capital increase, is a related party, an authorization to proceed with this subscription was granted to him by the meeting in accordance with articles 99 et seq. of Law 4548/2018.

5. The share buyback program has been approved with the following main features: it will involve a maximum of 2,184,724 shares with a purchase price of between €0.30 and €10.

6. Finally, several miscellaneous topics and announcements were discussed.

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

About The Azur Selection

The Azur Selection is a leading Greek company specializing in the ownership, operation, development and management of hotels and entertainment establishments. 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 the mnemonic code MLAZR.

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

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The Azur Selection
Chief Executive Officer
George Arvanitakis

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

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