SIDMA has reached an agreement for the sale of its subsidiary in Romania, with the listed group receiving €9 million, which will be used to reduce its debt obligations.

In particular, SIDMA entered into a contract for the sale and purchase of all the shares of its subsidiary "Sidma Romania S.R.L.", a company incorporated under Romanian law ("Sidma Romania"), with the company "AGIR HADDECILIK A.S." for a purchase price of EUR 9 million.

The purchase of the shares of Sidma Romania was made following a resolution of the Board of Directors of the Company on May 29, 2024, jointly with its wholly owned subsidiary SIDMA WORLDWIDE (CYPRUS) LIMITED ("Sidma Cyprus").

The completion of the transfer of the shares of Sidma Romania is subject to the approval of the transaction by the competent authorities of Romania.

Part of the Purchase Price will be used to partially repay existing borrowings of the Company to strengthen its position in the other markets in which it operates.