Transparency Obligations of Listed Companies According to Greek Law

Effie Meridou, Head of Legal, Sato

This paper examines the disclosure obligations of publicly listed companies as stipulated by Greek Law N. 3556/2007 (O.J. 91/A/2007), implementing Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonization of transparency requirements (the Transparency Directive), Law N. 3340/2005 (O.J. 112/A/2005) implementing Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (Market Abuse Directive), the relevant decisions of the Hellenic Capital Market Commission and the Athens Stock Exchange Regulation. It provides an overview of the most important requirements relating to periodic financial reporting, ongoing disclosure obligations concerning direct or indirect transactions of major shareholders, as well as the dissemination of inside and regulated information and corporate governance issues. Moreover, it gives focus on the interaction between the legal regimes and the impact of the legislative framework on the companies and the investors.

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Greece Compliance Manufacturing January 2010 Vol. 3, No. 10, Winter 2010

Effie Meridou

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Effie Meridou is a lawyer at the Athens Court of Appeal and currently head of the legal department of SATO SA. She has graduated from the Faculty of Law of the University of Athens, Greece and holds two master degrees, one (D.E.A.) on international law of the University Pantheon-Assas, Paris II and a second (D.E.S.S.) on Electronic Commerce Law of the University Rene Descartes, Paris V. Her past experience includes working as a legal advisor for the Hellenic Telecommunications and Post Commission and her main practice areas are corporate and commercial law, international business law, internet and telecommunications law.

Sato

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SATO SA holds a leading position in the Greek office and home furniture market. The company engages in both production and trading activities. It has three production plants, in Greece, in Germany and in Turkey and has developed major commercial partnerships with respected firms. SATO SA is listed in the Athens Exchange since 1990.

Greece Compliance Manufacturing January 2010 Vol. 3, No. 10, Winter 2010