EPSILON NET Group announces that its subsidiary Epsilon SingularLogic S.A. has completed the acquisition from SingularLogic, a subsidiary of SPACE HELLAS Group, of the entire activity of Retail & Fuel integration, sales & customer support software division which is addressed to the retail sector enterprises and gas stations businesses.

Specifically, on 22.12.2023 the decision of the Greek General Commercial Register (G.E.M.I.) under number 1007/22.12.2023 was registered in the General Commercial Register (G.E.M.I.) under Registration Code 3949731 of the Chamber of Commerce of Thessaloniki (AD: 6ΡΡΣ469ΗΡΥ-ΒΘΤΣ), which approved the division by spin-off of the sector of providing services and sales of integrated systems to retail and fuel businesses (hereinafter “Retail & Fuel Sector“) of “SINGULARLOGIC S.A.”, a subsidiary of “SPACE HELLAS”, and its contribution to “EPSILON SINGULARLOGIC S.A.” with number GE.MI. 157876205000, a subsidiary of the company “EPSILON NET S.A.”, against the issue of new shares of “EPSILON SINGULARLOGIC S.A.” to “SINGULARLOGIC S.A.”, in accordance with the applicable provisions of Law 4601/2019 and Law 4172/2013.

Specifically, on 22.12.2023, the spin-off of the services and sales of integrated systems to retail and fuel companies (hereinafter referred to as the “R&F Division”) of “SINGULARLOGIC” was approved and registered according to the provisions of L. 4601/2019 &. 4172/2013.

Following the approval of the spin-off of the Retail & Fuel sector, the following results were achieved:

• spin-off of the Retail & Fuel division of SingularLogic S.A. with a spin-off balance sheet date of 31.10.2023 and its contribution to the beneficiary Epsilon SingularLogic S.A. which is substituted as universal successor to the entire transferred property, as reflected in the balance sheet of the Retail & Fuel Division (as at 31.10.2023) and formed until the date of completion of the spin-off
• capital increase in Epsilon SingularLogic S.A. through the issue of new shares for the benefit of SingularLogic S.A., the Retail & Fuel contributing company

Finally, at the same date 22.12.2023, the transfer of the shares of Epsilon SingularLogic S.A. from SingularLogic S.A. to EPSILON NET S.A.  was completed for the agreed amount of €3,000,000 which has been paid in full.