CHIHO ENV(00976): The receiver intends to sell the Scholz Group to Derichebourg S.A.

CHIHO ENV (00976) announced that on May 14, 2025, the Group received a notification from FTI Consulting regarding the appointment of joint receivers and managers (receivers) and administrators for the Group's wholly-owned subsidiaries CRD, CRIH, and CTRL. The Group learned that on May 5, 2026, the receivers entered into a sale agreement with Derichebourg S.A. (Buyer) to sell 100% of the shares in Scholz Holding GmbH and Scholz Recycling GmbH (collectively "Scholz Group") held by CRIH and CRD to the Buyer. The completion of this transaction is subject to customary preconditions, including approvals related to merger control and foreign investment. It is expected that the transaction will be completed in the second half of 2026. The Group also learned that, pursuant to the terms of the receivers' appointment and guarantee enforcement procedures, the Group reserves the right to reach settlements with relevant creditors, release share pledges, and terminate the transaction before its completion. The Group has not yet received further details about this transaction. Upon successful completion of the transaction, the Scholz Group will no longer be a subsidiary of the Group, and after the transaction is completed, the financial performance of the Scholz Group will no longer be included in the Group's financial statements. According to publicly available information, the Buyer is a company listed on a pan-European stock exchange (stock code: DBG), mainly providing environmental services to businesses and local and municipal authorities in Europe. As far as the Board of Directors knows, the Buyer is an independent third party and has no connections with the Company or its related parties (as defined in the Listing Rules).