dormakaba has signed agreement to divest its Sub-Saharan African business

dormakaba Holding AG / Key word(s): Agreement
dormakaba has signed agreement to divest its Sub-Saharan African business

10.06.2024 / 06:30 CET/CEST

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Rümlang, 10 June 2024 - dormakaba announces that it has signed an agreement
to sell the South African entity dormakaba South Africa (Pty) Ltd to the
local management team. The transaction is pending final approval by the
relevant authorities, which dormakaba expects in the coming weeks. The
parties have agreed not to disclose the financial terms of the transaction.
With the divestment of Sub-Saharan African business dormakaba remains
committed to the market. After closing, the business will operate as Access
Hardware Holdings (PTY) Ltd. under new ownership and will act as the
exclusive dormakaba partner in the region.

'As part of our ongoing transformation, this divestment clearly demonstrates
dormakaba's commitment to achieving leadership positions in our core markets
and product clusters. This strategic approach is aimed at maximizing our
resources, enhancing efficiency, and ultimately positioning dormakaba as a
global industry leader,' says Till Reuter, CEO of dormakaba.

Effective after closing, the local management team will officially take
ownership of the business activities in the Sub-Saharan African countries.
All employees of the market organization will be retained in the new
business. 'The dedicated management team has a deep understanding of the
local market dynamics. We are pleased that this change of ownership will
ensure business continuity in the region. Our Middle East and Africa market
organization will continue to support the new company, and we look forward
to collaborating as exclusive partners,' adds Till Reuter.

     Further             Investors
     information for:
                         Swetlana Iodko Schoordijk
                         Head Investor Relations
                         T: +41 44 818 90 28
                         (1)swetlana.iodko@dormakaba.com  1.
                         mailto:swetlana.iodko@dormakaba.com

                         Media
                         Patrick Lehn
                         Senior Manager External Communications / Press
                         Officer
                         T: +41 44 818 92 86
                         (1)patrick.lehn@dormakaba.com  1.
                         mailto:patrick.lehn@dormakaba.com

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This communication contains certain forward-looking statements including,
but not limited to, those using the words 'believes', 'assumes', 'expects'
or formulations of a similar kind. Such forward-looking statements reflect
the current judgement of the company, involve risks and uncertainties and
are made on the basis of assumptions and expectations that the company
believes to be reasonable at this time but may prove to be erroneous. Undue
reliance should not be placed on such statements because, by their nature,
they are subject to known and unknown risks, uncertainties and other factors
outside of the company's and the Group's control which could lead to
substantial differences between the actual future results, the financial
situation, the development or performance of the company or the Group and
those either expressed or implied by such statements. Except as required by
applicable law or regulation, the company accepts no obligation to continue
to report, update or otherwise review such forward-looking statements or
adjust them to new information, or future events or developments.

This communication does not constitute an offer or an invitation for the
sale or purchase of securities in any jurisdiction.

dormakaba®, dorma+kaba®, Kaba®, Dorma®, Ilco®, LEGIC®, Silca®, BEST® etc.
are registered trademarks of the dormakaba Group. Due to country-specific
constraints or marketing considerations, some of the dormakaba Group
products and systems may not be available in every market.


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End of Media Release

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   Language:       English
   Company:        dormakaba Holding AG
                   Hofwisenstrasse 24
                   8153 Rümlang
                   Switzerland
   Phone:          +41 448189011
   E-mail:         info@dormakaba.com
   Internet:       https://www.dormakabagroup.com
   ISIN:           CH0011795959
   Listed:         SIX Swiss Exchange
   EQS News ID:    1921005

End of News EQS News Service
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1921005 10.06.2024 CET/CEST