Establishment of the Organization

The company under the name “THESSALOMA S.A. – LOCAL GOVERNMENT DEVELOPMENT ORGANIZATION,” with the distinctive title “THESSALOMA S.A.,” was established on 6 August 2024 upon its registration with the General Commercial Registry (G.E.MI.), under Registration Code No. 178725840000, pursuant to Decision No. 13/20.06.2024 of the Regional Council of the Region of Thessaly, and operates as a Local Government Development Organization.

The Development Organization was established under the provisions of Laws 4674/2020 (Government Gazette 53/A/11.03.2020), 4690/2020 (Government Gazette 104/A/30.05.2020), 4735/2020 (Government Gazette 197/A/12.10.2020), 4795/2021 (Government Gazette 62/A/17.04.2021), and the legislation governing public limited companies (Law 4548/2018). Its purpose is to serve as a development and support instrument for the Region of Thessaly and contribute to advancing its broader development goals and priorities.

Shareholding Structure

The shareholders of “THESSALOMA S.A. – Local Government Development Organization” are the Region of Thessaly, which holds 80% of the share capital, and the Regional Development Fund of Thessaly, which holds the remaining 20%. 

Corporate Governance 

The General Meeting of Shareholders is the Organization’s highest governing body and decides on all corporate matters in accordance with the provisions of Law 4548/2018. It is the highest decision-making body, and its powers are defined in the Articles of Association. 

Board of Directors 

The Development Organization is governed by the Board of Directors. The administration of the Organization encompasses its management and its representation in judicial and extrajudicial matters. The members of the Board of Directors are elected and/or appointed in accordance with Articles 78–80 of Law 4548/2018. The Board comprises the Chair, Vice-Chair, Chief Executive Officer, and the remaining members. It is the Company’s highest administrative body and operates in accordance with the provisions of its Articles of Association, Law 4548/2018 on public limited companies, as amended and in force, and the applicable regulations. The Board of Directors formulates the Company’s strategy and development policy and exercises its powers in accordance with the applicable legislation.