With the completion of the acquisition of 55% of Mediterranean Hospitality Venture, the percentage of Prodea Group's investments in the hotel sector is estimated to increase from 10% as of September 30, 2023, to 19%," the company notes in its announcement.

In details:

Pursuant to the question received by the Hellenic Capital Market Commission (protocol no 3083/12.12.2023) following the announcement that we have published on our website and the website of the Athens Exchange on 11.12.2023 in connection with business developments and, in particular, in connection with the acquisition of 55% in the company “Mediterranean Hospitality Venture PLC” (the “Transaction”) and with reference to published articles in the electronic press, our company, «Prodea Societe Anonyme of Investments in Real Estate» (the Company), informs investors that:

1. The completion of the Transaction is subject to obtaining approval from the Commission for the Protection of Competition of the Republic of Cyprus.

2. Upon obtaining the aforementioned approval, the agreed and payable consideration will be announced to investors. It is noted that the agreed consideration is lower than 10% of the value of the real estate assets under management by the Group as at 30.09.2023.

3. Upon completion of the Transaction, investments in hospitality real estate will represent 19% of Prodea’s Group total investments versus 10% as at 30.09.2023.

The Company commits to inform investors on all important developments that relate to the Company and the Company’s Group in connection with the abovementioned acquisition.