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acquisition of fixed assets and operating expenses related to VAT exempt activities, for the financial periods 1998-
2009, have been issued in breach of law; therefore the Tribunal ordered that the Hellenic Republic shall pay, or
otherwise declares that the Company is entitled to set off all amounts awarded in its favour by this Award of Tribunal
(refer also to note 5.29).
c) Following the termination of Home Base Contract from the Olympic Engineering S.A, on 24 December 2012, such
termination to come into force as from 1 May 2013, the above referred company, by virtue of an extrajudicial statement,
dated 22 February 2013, notified our Company that its assessment about the commercial value of Home Base’s landed
property, is amounted to €43.5m. That assessment, as Olympic Engineering S.A. claims in its extrajudicial statement,
is based on the results of a respective estimation study, which was conducted by an independent international
organization. Our Company, with its extrajudicial statement, dated 7 March 2013 which was addressed to Olympic
Engineering S.A. notified that it does not accept said assessment about the commercial value of Home Base’s landed
property, and is already proceeding to its own assessment in accordance with the rules and principles of the economic
science. It is noted that in case of any dispute that may arise between the Company and Olympic Engineering S.A.,
regarding the determination of the commercial value of the Home Base’s landed property, such dispute shall be
referred to international arbitration for final resolution, as provided in the Contract.
d) Other than the above, no significant events have been incurred after the balance sheet date, until the approval of the
Financial Statements by the Board of Directors.
Financial Statements as at 31 December 2012 (Amounts in Euros unless otherwise stated) Page 52 of 54
2009, have been issued in breach of law; therefore the Tribunal ordered that the Hellenic Republic shall pay, or
otherwise declares that the Company is entitled to set off all amounts awarded in its favour by this Award of Tribunal
(refer also to note 5.29).
c) Following the termination of Home Base Contract from the Olympic Engineering S.A, on 24 December 2012, such
termination to come into force as from 1 May 2013, the above referred company, by virtue of an extrajudicial statement,
dated 22 February 2013, notified our Company that its assessment about the commercial value of Home Base’s landed
property, is amounted to €43.5m. That assessment, as Olympic Engineering S.A. claims in its extrajudicial statement,
is based on the results of a respective estimation study, which was conducted by an independent international
organization. Our Company, with its extrajudicial statement, dated 7 March 2013 which was addressed to Olympic
Engineering S.A. notified that it does not accept said assessment about the commercial value of Home Base’s landed
property, and is already proceeding to its own assessment in accordance with the rules and principles of the economic
science. It is noted that in case of any dispute that may arise between the Company and Olympic Engineering S.A.,
regarding the determination of the commercial value of the Home Base’s landed property, such dispute shall be
referred to international arbitration for final resolution, as provided in the Contract.
d) Other than the above, no significant events have been incurred after the balance sheet date, until the approval of the
Financial Statements by the Board of Directors.
Financial Statements as at 31 December 2012 (Amounts in Euros unless otherwise stated) Page 52 of 54
