Announcement for the Completion of Acquisition of SINGULARLOGIC

“EPSILON NET” hereby announces, further to the Announcements dated 21/10/2020, 30/11/2020 and 30/12/2020, the successful completion of the purchase process regarding the participation of “MARFIN INVESTMENT GROUP HOLDINGS S.A.” (“MIG”) in “SINGULARLOGIC INFORMATION TECHNOLOGY SYSTEMS AND SOFTWARE APPLICATIONS S.A.” (“SINGULARLOGIC”) by the investment scheme “EPSILON NET” and “SPACE HELLAS” by signing today the transfer deed for the entire stake held by “MARFIN INVESTMENT GROUP HOLDINGS S.A.” (“MIG”) directly and indirectly (through its wholly owned subsidiary “TOWER TECHNOLOGY HOLDINGS (OVERSEAS) LIMITED”) in SINGULARLOGIC.

As already announced the total consideration of the transaction, including the consideration for the transfer of the shares and the consideration for the transfer of SINGULARLOGIC’s loan liabilities towards PIRAEUS BANK, amounted to €18,050,000 and was fully paid by the buyers.

SINGULARLOGIC was transferred free of loan liabilities towards PIRAEUS BANK and MIG, while on 31/12/2020 its cash stood at approximately €2m.

See also

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