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Michaniki: Announcement


The Chair of the Board of Directors of MICHANIKI SA, Mr Prodromos Emfietzoglou wishes to categorically deny the false information about the alleged request of the company to be placed under article 99 of the Bankruptcy Code and submit a declaration of insolvency. On the contrary, the company, in the framework of capital restructuring of the Group and re-financing of the Groups loans amounting to €160 million, has already signed a contract of syndicated loan amounting to €7 million as additional financing with the following banks: EFG Eurobank Ergasias, Commercial Bank of Greece, National Bank of Greece, Alpha Bank and Bank of Cyprus and has already entered into the settlement of overdue debts towards the Greek State (Tax office and Social Security Funds) as well as towards its personnel. 

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