Keo PLC — M&A Activity 2014

Jun 19, 2014

Announcement

Supplementary to our announcement dated 19/6/2014 in regards to the sale of the entire share capital of our subsidiary company Fifty Frith Street Ltd in the United Kingdom, please note the following:

• A. This is an investment classified as Available for Sale in the Groups Statement of Financial Position as at 31 December 2013. As such there was no business purposefulness other than the increase of the liquidity of the Group. The Group has taken into consideration valuation by a certified surveyor in London and the administration of the sales process was undertaken by professional real estate agency in London.
• B. The above mentioned subsidiary was the owner of a property in London since 1967 and its sole income was rent receivable from this property. The net rent income amounted to approximately €100.000 per annum.
• C. No member of the Board of Directors, nor the Company Secretary, nor any related to them party, nor any company in which they hold shares had any interest in this transaction or any relation with the company acquiring the shares.
• D. The transaction was completed on a clearly commercial basis following a tendering process.

Limassol, 19 June 2014