ANNOUNCEMENT
Disposal of Ermes Department Stores Plc's Investment in Superhome Center (DIY) Limited
CTC Group announces that the Board of Directors of its subsidiary, Ermes Department Stores Plc, has approved the disposal of its investment in Superhome Center (DIY) Limited, in which it holds 51% of the issued share capital. The transaction includes the simultaneous disposal by Secora BV, a company registered in the Netherlands, which holds the remaining 49% of the issued share capital of Superhome. The mentioned sellers have reached a share purchase agreement for 100% of Superhome's shares with Vasilitsi DIY Ltd, based in Nicosia, to whom the disposal will be made.
The sale price for 100% of the shares amounts to €94,000,000, minus Superhome's bank liabilities and expenses for works that Superhome itself will carry out for its stores.
This is a fair and beneficial transaction for Ermes, as it will have a positive impact on streamlining its financial position. It is also advantageous for the related parties of the CTC Group and their shareholders, as this arrangement achieves a significant reduction in their leverage.
The Agreement for the disposal of the investment in Superhome Center (DIY) Limited was signed on January 31, 2025.
3rd of February 2025