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Economy

PPC Responds to Media Reports Related to Share Buyback

ATHENS – Public Power Corporation on Friday refuted the distribution of bonuses to its officers in the form of shares, in response to media reports on the utility’s share buyback plan.

In a statement, PPC said that “the share purchase and offering plan was approved by the general assembly meeting of PPC shareholders on June 4, 2021, ordering the company’s board of management to begin the share buyback. However, because of the energy crisis, this right has not been implemented nor will it be so, as long as the crisis lasts. Therefore, media reports of a bonus of 1,856,000 shares to PPC officers bear no relation to reality.”

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