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Hellenic Fabrics: Announcement

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Following a request by the Capital Market Commission, concerning a publication on 09.12.2011 by e-newspaper “Voria.gr”, which referred to a possible participation of a foreign investment fund to “Hellenic Fabrics S.A.” capital, the company’s Administration announces the following:
 
Hellenic Fabrics, like many other Greek companies, has been for some time in the process of seeking new sources of capital that will support its working capital, as well as its development strategy financial needs.
 
Given that Greeces economic environment is currently unstable and, especially during recent months, in a continuous decline, the company has turned to potential new investors also from abroad. Within this frame, one of the many contacts that the company’s Administration has had, has turned recently to interest for serious discussions, in order to explore possibilities for investing in the company in the form of participation in a future share capital increase.
 
The negotiations for reaching an agreement with the investor are in progress and for the time being an official presentation is not deemed appropriate. The company will revert in case of concrete results.
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