Agreement on the Acquisition of a Resort Project in Vorarlberg

EPH Group AG (“EPH”) today reached a preliminary agreement with a landowner on the acquisition of a resort project in Vorarlberg. The project property is located directly next to a cable car station and offers immediate access to a large and snow-reliable ski ressort with a high-quality alpine offering. A resort of at least 4-star category with 499 beds is planned. A building permit has already been granted for the project. However, the implementation of the project planned by EPH requires obtaining an amendment permit (so-called “Tektur” approval).

No cash purchase price is to be paid for the acquisition of the resort project. Instead, consideration will be provided through the free allocation of a defined number of parking spaces in the underground garage belonging to the future hotel, which will be constructed by EPH at its own expense.

The signing of the final transaction documents will take place after the successful completion of a detailed due diligence review to be carried out by EPH and is subject to various conditions precedent, in particular the approval of the required amendments to the existing permits.