Rejection of a criminal complaint for fraud amounting to € 950.000

Konstantinos Papadiamantis and Andreas Matsakas, members of our White-Collar Crime Team, have been successfully representing numerous Members of the Boards of Directors of Damavand S.A. and Deca Investments A.E.D.O.E.E. as suspects, whom Damavand Trading L.T.D. has accused of fraud amounting to € 950.000 and relating to an option in favor of Diorama Investments Sicar S.A., a foreign company managed in Greece by Deca Investments A.E.D.O.E.E. The said option had been provided for in a private agreement between Damavand Trading L.T.D. (as seller of shares within Damavand S.A.) and Diorama Investments Sicar S.A. (as buyer of shares within Damavand S.A.), its activation had been defined to depend on whether the bankruptcy of Producta S.A. (an old company related to Damavand Trading L.T.D) would have been completed or not within 24 months of the conclusion of the above private agreement and its exercise ultimately led to the free acquisition of shares of Damavand Trading L.T.D. by Diorama Investments Sicar S.A. The criminal complaint for fraud lodged by Damavand Trading L.T.D. against the above suspects has been rejected by the competent Prosecutor of First Instance.