Thessaloniki Water Supply & Sewerage Co. S.A., trading as EYATH S.A. was founded in 1998 (by Law 2651/3.11.1998, Government Gazette 248/A/3.11.1998) and came about from the merger of Thessaloniki Water Supply Organisation S.A. (OYTH S.A.) and Thessaloniki Sewerage Organisation S.A. (OATH S.A.). Prior to that, OYTH and OATH, which had been bodies governed by public law, had been converted into societes anonyme on 25.6.1997.
EYATH S.A. is listed on the Athens Stock Exchange. It is governed by the provisions of Codified Law 2190/1920 on societes anonyme (Government Gazette 135/A) and in a supplementary manner by the provisions of Chapter II of Law 2937/2001 (Government Gazette 169/A) and Law 3016/2002 as amended by Law 3091/2002. The company is supervised by the Ministries of Economy & Finance and Macedonia-Thrace, and its effective term is 99 years, running from 3.11.1998 to 3.11.2097. The initial Articles of Association were approved by decision No. ΕΓΑ/606/26-7-2001 (Government Gazette 989/30.7.2001) and the company holds Companies Register No. 41913/06/B/98/32.
The company’s registered offices are in a building owned by it at 127 Egnatia St., Thessaloniki GR-54635, Tel. 2310 966600.
Interministerial Commission on Privatisation Decisions No. 563/17.10.2000 and No. 605/27.07.2001 resolved to list the company on ATHEX. This was achieved by selling off the shares from the share capital increase and selling off existing shares owned by the Greek State, which had been its exclusive shareholder up to that point.
EYATH’s Extraordinary General Meeting of Shareholders held on 27.7.2001 unanimously decided to increase the share capital and list the company’s shares on the Main Market of ATHEX.
Pursuant to Article 22 of Law 2937/26.7.2001, when the company was listed, the majority of EYATH S.A.’s assets were transferred to a newly established body governed by public law called EYATH Fixed Assets free of consideration. Under a 30-year contract signed on 27.7.2001 by the Greek State, EYATH Fixed Assets and EYATH S.A., EYATH S.A. was given an exclusive right to provide water supply and sewerage services within its geographical remit. Under that same contract EYATH Fixed Assets was obliged to provide EYATH S.A. with the necessary quantities of water for a fee to meet its consumers’ needs, and EYATH S.A. was obliged to ensure the rational use of the water sold and make concerted efforts to ensure a reduction in leaks and water losses as much as possible by improving and rebuilding the water supply network.