2006jul 14

Employee Share Schemes in Greece

Although the offer of securities to the public generally require the publication of a prospectus, there is an exemption from that requirement where securities are only offered to employees of the issuer or a group company. The existing security legislation will continue to apply until the Prospectus Directive is implemented in Greek law, which should have happened by 1 July 2005 but is expected to occur by early 2006.