03/02/2023

ANNOUNCEMENT

MARFIN INVESTMENT GROUP HOLDINGS S.A. (MIG) hereby announces that it has reached a non-binding agreement in principle with Piraeus Bank for the extension of the loan of subsidiary RKB by 7 further years, i.e. until 2032. The terms of the agreement are to be finalized following negotiations between the parties.

RKB constitutes one of the largest real estate management companies in Serbia, managing 27 department stores, 8 of which are located in Belgrade, and one office building of a gross area of 213,000 sq.m. It also owns land plots with potential development of a gross area of 21,000 sq.m. The value of the real estate assets amounts to €206.1 m. (valuation as at 31/12/2021, minus the assets transferred since then), whereas the company's net debt amounts to €86.7m. in 2022 against €96,4 m. in 2021. Sales amounted to €7.1m. in 2022 against €6.8 m. in 2021 and its earnings before tax, depreciation and amortization (EBITDA) amounted to €2.9m. against €2.8m. in 2021. The results of 2022 are forecast and unaudited figures and do not include the valuation result as the relevant valuation procedure for 2022 has not been completed yet.

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Marfin Investment Group SA Holdings published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 15:58:03 UTC.