94
Also, in November, ALUMINIUM S.A., a subsidiary company of MYTILINEOS Group, has issued a €145 million
syndicated debenture loan, and PROTERGIA THERMAL – AGIOS NIKOLAOS PRODUCTION AND TRADE
OF ELECTRICAL POWER S.A, a wholly-owned subsidiary of PROTERGIA PRODUCTION AND TRADE OF
ELECTRICAL POWER S.A., has issued a corresponding €104 million syndicated debenture loan through which
refinancing of the Company’s current loan obligations occurred. Both these loans have been issued for a term
of three (3) years with an option for extension for an additional period of two (2) years, up to a total of five (5)
years. PROTERGIA THERMAL – AGIOS NIKOLAOS PRODUCTION AND TRADE OF ELECTRICAL POWER S.A. will
accept –as a result of breaking up and contribution– the branch of PROTERGIA PRODUCTION AND TRADE OF
ELECTRICAL POWER S.A. active in the production of power from the thermal power plant, with 31.08.2013 set
as the date of the transformation accounting statement.
MYTILINEOS HOLDINGS S.A. on 18 October 2013, pursuant to its BoD resolution on 17 October 2013, sold
4,972,383 treasury shares at the price of €5.13 per share for a total consideration of €25,508,325. Following the
above mentioned transaction MYTILINEOS HOLDINGS S.A. does not hold any treasury stock.
All of the treasury shares were acquired by Fairfax Financial Holdings Limited stepping up significantly the
cooperation with MYTILINEOS Group. As of 18 October 2013, the interest held by Fairfax in MYTILINEOS Group
stands at 5.02%, making Fairfax the third largest MYTILINEOS Group shareholder.
In November, MYTILINEOS HOLDINGS S.A. announced that it had successfully completed an offering
of 3,217,288 existing shares in METKA S.A. generating total proceeds of c. EUR40.2 million, by way of an
international private placement to institutional investors as part of an accelerated bookbuilding process
Following the transaction, MYTILINEOS HOLDINGS S.A. holds 50.0% + 1 Share of METKA’S S.A. share capital.
3.11 Financial instruments
Financial instrument is any contract that creates a financial asset in an enterprise and a financial liability or
Equity instrument in another.
The financial instruments of the Group are classified in the following categories according to the substance of
the contract and the purpose for which they were purchased.
i) Financial instruments valued at fair value through the income statement
These comprise assets that satisfy any of the following conditions:
• Financial assets that are held for trading purposes (including derivatives, except those that are designated
and effective hedging instruments, those that are acquired or incurred for the purpose of sale or repurchase
and, finally, those that are part of a portfolio of designated financial instruments).
• Upon initial recognition it is designated by the company as an instrument valued at fair value, with any
changes recognized through the Income Statement.
In the Balance-sheet of the Group the exchanges and the assessment at fair value of derivatives they are
portrayed in separate items of Asset and Liabilities with titled « Derivatives Financial Assets ». The changes at
fair value of derivatives are registered in income statement.
ii) Loans and receivables
They include non-derivative financial assets with fixed or predefined payments which are not traded in active
markets. The following are not included in this category (loans and receivables):
