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ALTEC S.A.
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Announcement
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September 29, 2008 An agreement has been signed between ALTEC SA and its three main creditors (NBG, Eurobank, Piraeus Bank) for its financing. According to the agreement, ALTEC will receive immediately the sum of 15 million euro. For the achievement of the agreement, personal guarantee was given by the main shareholder of Altec, Mr Athanasiis Athanasoulis. According to the agreement it is also forecasted that up to 28/2/2009, all the obligations of ALTEC to the banks will be suspended. At the same time, it will be worked out in collaboration with the banks, a capital restructure process as well as a new plan business plan for the company.
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