OREANDA-NEWS. On 25 May 2016, Hellenic Carriers Limited (the Company) announced a recommended offer (Offer) from Faith Holdings Inc. (Faith Holdings) for the entire issued and to be issued share capital of the Company which Faith Holdings does not already own.

The full terms and conditions of the Offer and the procedure for acceptance were set out in the offer document dated and posted to shareholders on 25 May 2016 (Offer Document).

Level of acceptances

As at 13:00 (London time) on 30 June 2016, Faith Holdings has received valid acceptances from the Company's shareholders in respect of 28,118,556 shares in the Company (representing 61.6% of the entire issued share capital of the Company), all of which count towards satisfaction of the acceptance condition to the Offer.

In addition, Faith Holdings has obtained irrevocable undertakings to accept or procure the acceptance of the Offer from certain shareholders in respect of a total of 4,017,814 shares of the Company (representing 8.8% of the entire issued share capital of the Company).

The above valid acceptances and irrevocable undertakings to accept the Offer represent approximately a total 92% of the number of the shares of the Company to which the Offer relates.

Faith Holdings has decided to declare the Offer unconditional in all respects.

Extension of Offer

The Offer is being extended and will remain open for acceptance until 13:00 (London time) on 15 July 2016 or such later time/date as Faith Holdings may determine in its sole discretion.

Full details of how to accept the Offer are set out in the Offer Document. Shareholders of the Company who have not yet accepted the Offer are encouraged to do so in accordance with the instructions in the Offer Documents.