ANNOUNCEMENT

Approval of Draft Demerger Plan according to the provisions of article 57 par.2 and article 58 of L. 4601/2019 and article 52 of L.4172/2013

The Board of Directors of Epsilon Net S.A., decided on February 27,2021 the Demerger Plan of the sector of commercial applications for businesses and ERP based on the platform PYLON, specifically the products Pylon Commercial, Pylon ERP, Pylon CRM, Pylon Shop, Pylon Auto Service, Pylon Auto & Moto Cube, Pylon Retail, Pylon Entry and the transfer/contribution of all these activities into its new established subsidiary Epsilon SingularLogic (Beneficiary), according to the provisions of Law 4601/2019, in combination with Law 4172/2013 and Law 4548/2018.

The activity in this business sector is based upon the significant advantages of the products of Epsilon Net, the level of services provided, and also the know-how of its working force. The competitive advantage of the products of the demerged sector is also, the connection with the other sectors of Epsilon Net such as the products for accounting offices, HRM systems, Web solutions of platform Epsilon Smart, products for the Hospitality sector and the e-invoicing solutions with Epsilon Digital, the authorized e-invoicing platform from AADE.

The Board of Directors of Epsilon Net S.A., on May 15, 2021 approved the Draft Demerger Plan.

The completion of the Demerger is subject to the required by the Law approval of the General Meeting of the shareholders of Epsilon Net S.A., as well as all necessary approvals by the relevant Authorities.

It is noted, that the complete Draft Demerger Plan is available in Greek language, on the corporate website of Epsilon Net (Ενημερωτικά Έγγραφα Απόσχιση PYLON – epsilonnet.gr).

Check out the announcement here.