NEL LINES MARITIME COMPANY OF LESVOS SA

NEL LINES MARITIME COMPANY OF LESVOS SA

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Company Overview
Maritime Company of Lesvos S.A. is a publicly quoted company engaged in the acquisition and utilization of vessels for the transportation of passengers, vehicles and merchandise along domestic routes, and the operation of tourist enterprises and the participation in other companies with similar goals. The company is the leading Greek car passenger ferry for all destinations in the North-eastern Aegean. The company was founded under the name of Maritime Company of Lesvos S.A. in August of 1972 and is based at Venizelou Street, Lesvos, Greece.
The company’s fleet consists of six passenger ferries, three of the conventional type and three high-speed vessels, with an average age of 17.3 years. Its ships connect the main port of Piraeus with Western Cyclades (Andros-Syros-Tinos-Mykonos), Eastern Cyclades (Paros-Naxos-Ikaria) and the island of Samos, as well as the port of Thessaloniki with the islands of Lesvos and Limnos. Also, the company maintains two offices in Piraeus: Akti Miaouli 25, and Astiggos 2 (the company’s central ticket agency). Its sales network includes approximately 300 agents in the broader area of Athens-Piraeus and about 350 agents in the rest of Greece who have direct access to its central booking system.
In May of 2005, a controlling stake of 20 percent in the company was acquired by a new management team from ANEK LINES (listed on the Athens Stock Exchange).
The company’s shares were listed on the Athens Stock Exchange since August 1996. In addition, the company’s aim is to provide the highest level of customer satisfaction continuously.
Business Summary
The Company is operates in the passenger maritime transportation sector with scheduled routes in Greece and recently in the Red Sea.
Description and history
The Company is operates in the passenger maritime transportation sector with scheduled routes in Greece and recently in the Red Sea.

The Company was founded on August 5th 1972 under the name of Maritime Company of Lesvos S.A.,and is based in Mytilini (5 El. Venizelou str., tel: 22510-26212). NEL Lines is a public company, listed on the Athens Stock Exchange since August 1996 (Ticker = NEL)

In May of 2005 a controlling stake of 20% in NEL Lines was acquired by a new management team from ANEK LINES (also listed on the Athens Stock Exchange), the following are the major achievements of this team since the takeover:
August 2005: Announced a claim in the amount of EUR 89,7 million against French engine manufacturer SEMT Pielstick was filed.
December 2005: Completed a share capital increase for NEL Lines for EUR 19 million
January 2006: Incorporation of subsidiary Vita Management responsible for the maintenance of the fleet
February 2006: Announced a share capital increase for the exchange of stock for five ships (maximum amount EUR 23 million)
February 2006: Announced the purchase of C-Link Ferries by NEL Lines
March 2006: Incorporation of consortium between NEL Lines & C-Link Ferries
May 2006: Announced the write off of EUR 61 million in loans from CALYON Bank
July 2006: Announced the re-engining of ‘Aeolos Kenteris’ at Fincatieri shipyard, Italy
August 2006: Proposed acquisition from Minoan Lines (listed on the Athens Stock Exchange) of 33,31% stake in Hellenic Seaways (34 ships) announced on 25/08/2006
September 2006: Announced settlement with French manufacturer SEMT Pielstick on 15/09/2006 concerning the filed claim which includes the restoration, upgrading of the main engines and a 24 month guarantee on all engine parts for the High Speed Crafts, Aeolos Express and Aeolos Express II as well as a cash deposit to NEL Lines for the amount of EUR 10 million as compensation.

Founded under the name of Maritime Company of Lesvos S.A

Business Line
Acquisition and utilization of vessels for the transportation of passengers, vehicles and merchandise along domestic routes, the operation of tourist enterprises and the participation in other companies with similar goals
Subsidiary
C LINK FERRIES N.E.
Advisor
BDO CERTIFIED AND REGISTERED AUDITORS AE
IPO date
8/28/1995
US SIC Code
4482
Company Address
5, El. Venizelou Str

City province or state postal code
811 00, Mytilini
Phone: +30 22510 26251
Fax: +30 22510 20251
Country address: GREECE
Website url: www.nel.gr