Following a decision of the Hellenic Capital Market Commission (HCMC) and within the frame of correct and complete information to the investment community, EYDAP announces the following:
In the First Half Report of the Board of Directors for the period 1/1/2016 to 6/30/2016, the Company reported its participation in the Attica Bank's Increase Share Capital to the amount of 20mil. Euro. This investment was included under the category of available for sale financial assets and valued at fair value in accordance with the official price of the Athens Exchange on 6/30/2016. The losses incurred due to the change in fair value were recorded in other comprehensive income without burdening the income statement.
Therefore, in the Report of the Board of Directors of the first half 2016, an impairment loss of 14,066 thousand euro on the results of this period was not recognized, regarding the difference between the fair value of the Company's investment in the Attica Bank Share Capital and the acquisition cost of that, which had been recognized directly in equity through other comprehensive income in accordance with paragraph 67 of IAS 39, although there was objective evidence of impairment, i.e. a significant decrease in the fair value there of below the acquisition cost, according to paragraph 61 of IAS 39.
The recognition of the relevant impairment loss of the period 1/1/2016 to 6/30/2016 results on a Consolidated and non-Consolidated basis would have the following effect to basic financial fundamentals of the Company:
Earnings before taxes would be reduced by 14,066 thousand euro, from 26,246 thousand euro to 12,180 thousand euro. Earnings after taxes would be reduced by 9,987 thousand euro from 17,314 thousand euro to 7,327 thousand euro and the equity would remain unchanged.
The relevant impairment loss as formed today, December 19th, 2016 amounts to 17,000 thousand euro (Closing price Attica Bank ATE 16/12/2016).

For management information purposes, during the preparation of the 9-month Financial Statements, the company recognized an impairment loss of 17,000 thousand euro for the period 1/1/2016 to 9/30/2016, and basic financial fundamentals amounted as follows:
Profits before taxes 30,946 thousand euro, and profits after taxes 18,923 thousand euro.
Consequently the Annual Financial Report of 2016 will contain the relevant impairment loss.

Eydap SA - Athens Water Supply & Sewage Co. published this content on 19 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 December 2016 13:13:10 UTC.

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