CTC's Public Offer Approved

Cyprus Trading Corporation Plc (CTC) has announced that its public offer to acquire Ermes Department Stores Plc (ERMES) has been approved by the Cyprus Securities and Exchange Commission.

Offer Details

The offer, which was made on April 2, 2026, is for the acquisition of up to 100% of the issued share capital of ERMES. CTC currently holds 134,740,047 shares, representing 77.215% of the total issued share capital and voting rights of ERMES.

The offer is considered successful regardless of the percentage of shares acquired and is unconditional. CTC is obligated to acquire all shares of ERMES that are offered to it under the terms of the offer, provided that no withdrawal or cancellation of the offer occurs.

Offer Period

The acceptance period for the offer begins on May 25, 2026, and ends on July 13, 2026, at 2:30 pm.

The public offer document contains full details of the offer, the consideration offered, and a detailed description of the acceptance procedure. The document, along with the acceptance and transfer form, revocation form, and investor instruction form, will be mailed to ERMES shareholders who hold at least 10,000 shares.

Availability of Documents

The public offer document, as approved by the Commission, along with all the above forms, will be available free of charge in electronic format from May 25, 2026, on the website of the Cyprus Stock Exchange (www.cse.com.cy) and the website of the offer's advisor, The Cyprus Investment and Securities Corporation Limited (CISCO) (www.cisco-online.com.cy).