Azkoyen, S.A. concentrates all its Coffee & Vending Systems and Payment Technologies activity through the creation of a new subsidiary

• With this agreement, the holding company Azkoyen, S.A. transfers its industrial and commercial activity to the new subsidiary, which it wholly owns. Azkoyen, S.A. will henceforth focus solely on providing corporate management and support services to the two divisions that make up its group, as well as fulfilling the obligations inherent to its status as a listed company. This will result in a more streamlined corporate structure.

The Extraordinary General Shareholders’ Meeting of Grupo Azkoyen has approved the corporate reorganization project under which Azkoyen S.A. will spin off the industrial and commercial activity comprising the Coffee & Vending Systems and Payment Technologies businesses, transferring them in their entirety, by universal succession, to a newly created company named Azkoyen Vending & Payment Solutions, S.L. (VPS), fully owned by Azkoyen S.A.

According to the approved project, the transaction is carried out under the simplified procedure and does not involve any reduction in Azkoyen S.A.’s share capital or equity, which will receive 100% ownership of the new subsidiary. Following the transaction, Grupo Azkoyen will strengthen its role as a holding company, concentrating corporate and supervisory functions, while the new subsidiary will take over the industrial and commercial activities of the VPS division as the head of its subgroup. The other division, Time & Security, is headed by Primion Technologies, GmbH, also wholly owned by Azkoyen, S.A.

Juan José Suárez, Executive Chairman of the company, welcomed the support of the shareholders: “The approval of this project by the General Meeting allows us to move forward towards a more orderly and efficient structure, which will create better conditions for growth and value creation for all our stakeholders in each of the two divisions.”

The objectives of the transaction include optimizing the management and monitoring of the VPS division’s performance, facilitating a more efficient allocation of resources within the group, and providing greater clarity in distinguishing the activities and metrics of each business for shareholders, customers, and suppliers.