The Insolvency Administrator for Xpay Holding AG, a Portfolio Company of Samara, has opted to close the Company

Public Disclosure under MAR Article 17

Malta, 11.01.2023. The Management Board of Xpay Holding AG, a portfolio company of Samara Asset Group (ISIN: MT0001770107; Ticker: SRAG:GR), today has notified management of Samara, in light of the challenging situation in the public capital markets and the weakness of the financing market, the insolvency administrator for Xpay Holding AG has opted to close the company.

Samara currently holds 27.8% of the shares in Xpay Holding AG and has invested a total amount of approximately EUR 7.7 million as deposits and EUR 500,000 in loans in Xpay Holding AG. In prior years, Samara has recognized impairments on Xpay Holding AG of EUR 1.3 million. The total unimpaired value is, therefore, implied to be EUR 6.9 million, consisting of EUR 6.4 million in equity and EUR 500,000 in convertible loans.

The amount of the share of the liquidation proceeds of Xpay Holding AG attributable to Samara has not yet been determined. However, the Management Board of Samara assumes that the amount of the acquisition costs of the shares in Xpay Holding AG and the amount of the loan granted will not be reached and that Samara could therefore incur a loss of up to the implied carrying value of EUR 6.9 million, according to IFRS accounting.

The implied carrying value write-off of Xpay Holding AG of EUR 6.9 million equates to an estimated loss of EUR 0.14 per share. After the write-off, Samara’s estimated NAV per share as of Oct. 31, 2023 is EUR 2.49. ‍

About Samara Asset Group p.l.c.‍

Samara Asset Group (ISIN: MT0001770107; Ticker: SRAG:GR) is a deep-tech powered alternative asset manager with a hyperfocus on alpha-generating strategies and Bitcoin. We leverage our robust balance sheet of many of the world’s pre-eminent Bitcoin infrastructure companies, such as Northern Data and Deutsche Digital Assets, to seed emerging asset managers on the Samara Alpha platform and back the world’s best builders in Bitcoin. ‍

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Samara Asset Group p.l.c.
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https://samara-ag.com/‍

E-mail: info@samara-ag.com

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