Shelly Group to acquire additional 16% stake in its Slovenian subsidiary Shelly Tech (formerly GOAP d.o.o.)

Shelly Group to acquire additional 16% stake in its Slovenian subsidiary Shelly Tech (formerly GOAP d.o.o.)

Sofia / Munich, 22 February 2024 – Shelly Group AD (Ticker SLYG / ISIN: BG1100003166) (“Shelly Group”), has exercised a call option to acquire an additional 16% stake of the share capital of its Slovenian IoT subsidiary Shelly Tech (formerly GOAP Računalniški inženiring in avtomatizacija procesov d.o.o. Nova Gorica) (the “Target Company”).

The exercise of the call option is the second stage of the acquisition of the Target Company based on an option agreement between Shelly and the shareholders of the Target Company signed and announced in January 2023.

The total purchase price for the 16% stake under the exercised call option amounts to EUR 586,666.30 calculated in accordance with the conditions of the option agreement.

The remaining 24% of the shares in the Target Company held by three individual shareholders are subject to a further call/put option exercisable in 2026 under the agreed terms.

For further information, please visit corporate.shelly.com.

About Shelly Group

Shelly Group AD is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Shelly Group was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 6 subsidiary companies and has offices in Bulgaria, Germany, and Slovenia as well as in China and USA. Shelly Group’s products have already conquered over 100 markets. Shelly Group AD has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker SLYG.

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