Signing a memorandum of understanding (non-binding)

Mayar Holding Company announces that one of its subsidiary companies (Elevator Solutions Investment Company) has signed a (non-binding) memorandum of understanding with both ITM Company and Smart Elevators Company within one acquisition deal. To acquire 100% of the total shares of the two companies, including their rights and obligations, upon reaching a final agreement between the parties.

The acquisition process comes within the framework of the Elevator Solutions Company’s strategy to invest in expanding the market for selling, installing and maintaining elevators and escalators, and the continuous growth and sustainability that it achieves.

The company targets it within the framework of the general policy of Mayar Holding Company.

2024-06-05 Corresponding to 1445-11-28