Quest Holdings: Completion of the acquisition of participation in the company Intelli Solutions S.A.

Following the announcement of July 23^rd, 2021, Quest Holdings S.A. announces that on October 1^st, 2021 acquires 60% of the share capital of Intelli Solutions S.A. through its 100% subsidiary Uni Systems S.M.S.A..

According to the terms of the agreement, Uni Systems acquired 55.2% through the purchase and sale of shares from the old shareholders and then 4.8% through its participation in a decided share capital increase of Intelli Solutions, thus Uni Systems acquires in total the 60% of Intelli Solutions S.A. share capital.

The total transaction price - for the acquisition of the percentage of 60% of the Intelli Solutions S.A. - amounts to €3.800.000; the total investment is estimated to reach the amount of €5.200.000 during the next two years, due to provisions for extra reimbursement of the old shareholders.

Intelli Solutions S.A. is an innovative software services company, with a more than 15 years successful history in the market, many successes and a footprint on both Greece and SE Europe. It is specialized in digital transformation services, emphasizing on Customer Engagement, Customer Onboarding and Retention and Revenue Assurance. The company has a broad clientele in Telecom, Banking and Insurance sectors, Utilities and Online Betting.