Athens, Greece – March 24, 2025 - Metlen Energy and Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (METLEN) and Fairfax Financial Holdings Limited (Fairfax) have agreed to enter into a €110 million exchangeable bond, through which Fairfax will have an option to acquire 2,750,000 METLEN treasury shares within two years at a price of €40 per share, representing 1.92% of the Company's share capital.
Following this acquisition, Fairfax's total shareholding in the Company will increase to 8.35%.
Prem Watsa, Chairman and CEO of Fairfax, made the following statement: “We are excited to further increase Fairfax’s investment in METLEN. The company has an excellent track record, and we look forward to working with Evangelos Mytilineos and his team in continuing to grow their business over the long-term.”
Evangelos Mytilineos, Chairman and CEO of METLEN, made the following statement: “We are delighted and enthusiastic about Fairfax's further investment, a long-standing supportive and reliable shareholder, demonstrating their confidence in the future and prospects of our Company.
Our rapid growth since 2012 (when Fairfax first invested in the then MYTILINEOS) is intertwined with Fairfax's continuous increase in their shareholding, which is therefore extremely welcome”.
For further information please contact:
Investors Relations
Tel. +30 210-6877300 | Fax +30 210-6877400 | E-mail: ir@metlengroup.com
Press Office
Tel. +30 210-6877346 | Fax +30 210-6877400 | E-mail: communications@metlengroup.com
METLEN:
METLEN Energy & Metals is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.68 billion and €1.08 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects.
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