VCREDIT (02003) has announced the termination of its agreement to acquire up to 100% of Banco Português de Gestão, S.A. (BPG).

According to the company's statement, the decision was made because regulatory conditions were not satisfied by the effective date of August 6, 2026, one year from now. As a result, the seller and VCREDIT have mutually agreed to terminate the sale and purchase agreement effective from that date, with no further steps to be taken regarding the sale and purchase of the seller's shares.

Following the termination, both parties are released and discharged from their respective obligations under the agreement. Although VCREDIT was not found to be in breach of its obligations, the company has agreed to allow the seller to retain 80% of the prepaid deposit (€800,000). This retention serves as compensation for the time spent from the signing of the agreement until the confirmation that regulatory conditions could not be met, as well as for the seller's efforts in maintaining BPG's normal operations during the period and for the loss of alternative commercial opportunities that could have been considered.

The seller will refund 20% of the prepaid deposit (€200,000) to VCREDIT. The company's board believes that the termination of the agreement is not expected to have a material adverse impact on the group's operations.