GO plc has announced that together with its majority shareholder Emirates International Telecommunications (Malta) Limited ("EITML"), it has acquired the total issued share capital of Forgendo Limited a company registered in Cyprus. The share capital in Forgendo Limited is split equally between GO plc and EITML.

Subject to the relevant regulatory approvals, Forgendo Limited has entered into mutually binding share purchase agreements with each of NOVATOR EQUITIES LTD, CYCLADIC CATALYST MASTER FUND and the Foundation of Research and Technology Hellas ("FORTH") for the acquisition of a total of 8,158,912 shares, with the respective number of voting rights, representing approximately 21.00% of the total issued share capital of a Greek company called Hellenic Company for Telecommunications and Telematic Applications S.A. ("Forthnet") for a cash consideration of €93,827,488. The transactions have been agreed at a price per share of €11.50.

More specifically, NOVATOR EQUITIES LTD, shareholder of 3,934,068 shares or 10.12% of the total issued share capital of Forthnet, and CYCLADIC CATALYST MASTER FUND, shareholder of 2,224,844 shares or 5.73% of the total issued share capital of Forthnet, agreed to sell their entire shareholding in Forthnet. FORTH, shareholder of 4,412,465 shares or 11.36% of the total issued share capital of Forthnet, agreed to sell 2,000,000 shares or 5.15% of the total issued share capital of Forthnet.

After the completion of the transaction FORTH will remain a shareholder in Forthnet with 2,412,465 shares or 6.21% of Forthnet share capital. Completion of the transaction is conditional upon Greek regulatory approvals. Forthnet has its registered seat in Heraklion, Greece and Forthnet shares are listed on the Athens Stock Exchange.