Announcement of Share Capital Increase in Subsidiaries

Loulis Food Ingredients_Announcement of Share Capital Increase in Subsidiaries

LOULIS MILLS SA announces that it has proceeded with the capital increase in the amount of 5,500 million euros of its 100% subsidiary, LOULIS INTERNATIONAL FOODS ENTERPRISES BULGARIA LTD, based in Nicosia, Cyprus.

This was implemented through an increase in the share capital of its subsidiary with cash contribution and the issuance of 3,216,376 new common registered shares worth 1.71 euros each. The funds raised by LOULIS INTERNATIONAL FOODS ENTERPRISES BULGARIA LTD through the increase of its share capital, will then be used to cover its participation in its 100% subsidiary LOULIS MEL - BULGARIA EAD based in General Toshevo Bulgaria.

LOULIS MEL - BULGARIA EAD, also proceeded in turn to increase its share capital by 7,250 million euros, in two stages. Firstly, by capitalizing loans worth 2.928 million euros from its parent company LOULIS INTERNATIONAL FOODS ENTERPRISES BULGARIA LTD and then by through cash contribution by its parent company amounting to 4.322 million euros. The share capital increase was made to increase the company's capital, as well as to repay part of its loan financing.

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