Disposal of SEMPA SAS

ME Group, the instant-service equipment group, announces that on 20 May 2024, its subsidiary company ME GROUP GSS sold its entire interest in SEMPA SAS ("Sempa") to Food Machine Invest, a French corporation, for a total cash consideration of €4.6m (the "Transaction"). Pascal Faucher, formerly a director of KIS SAS and Sempa, subsidiaries of ME Group, has a 24% interest in Food Machine Invest's equity.

Following a review of Sempa's operations, the Board decided to sell the business and focus on ME Group's core activities, which is to site and operate automated-vending equipment in return for commission and/or fixed fee. ME Group acquired Sempa in 2019 and since then has recovered the acquisition consideration through Sempa's profit contribution, resulting in ME Group booking no material write-downs as a result of the Transaction. The Group continues to operate 441 freshly squeezed orange juice machines in Japan.

The Board intends to reinvest the sale proceeds in the continued growth of its core business areas of photobooths and laundry operations, which both delivered strong growth throughout FY 2023, whilst modernisation and digitalisation of the business continue to be a strategic long-term focus.

The Transaction is a smaller related-party transaction under LR 11.1.10R.

• Wash.ME - Unattended laundry services and launderettes
• Print.ME - High-quality digital printing kiosks
• Feed.ME - Vending equipment for the food service market

The Company's shares have been listed on the London Stock Exchange since 1962.