The Board of Directors of NIREUS decided, on 30.03.2015, to initiate the process of merger by absorption of SEA FARM IONIAN SA with the merger balance sheet common reference date set as 31 March 2015.

The merger is a part of the restructuring of the Group.  It will be implemented according to the relevant provisions of article 69 and thereafter of C.L. 2190/1920, the provisions of L. 2166/1993, and will respect all the obligations of the current legislation for listed companies.

Finally, the Board of Directors of the Company informs that the Board of Directors of SEA FARM IONIAN S.A., on 30.03.2015, reached a similar decision for the initiation of process of merger and appointed Mr. Stylianos Xenakis, Certified Auditor and member of the Audit Committee of SOL (the Greek Body of Certified Public Accountants) to certify the book value of the company's assets according to article 3 par. 2 of L. 2166/1993.

The merger is subject to the conditional permits, as stated by the Law, and approvals of the relevant bodies of the merged companies and the public authorities.  The merger of the companies NIREUS and SEA FARM IONIAN will result in the consolidation of fish farming and relevant activities in one legal entity in the Group, namely the parent company.  It is expected to strengthen economies of scale and to enhance business efficiency.