| | 15/2020 Completion of the consultation procedure with the trade union regarding group layoffs in Goldenline Sp. z o.o. and launching a voluntary leave program
Regulatory filing
Management Board of Agora S.A. with its registered office in Warsaw ("Company", "Agora"), with reference to the report no. 13/2020 of 6 April 2020 on commencing consultation with the inter-enterprise commission
of NSZZ "Solidarność "Agora SA and Inforadio Sp. z o.o. regarding i.a. agreeing on the conditions of group layoffs in Goldenline Sp. z o.o. with its registered office in Warsaw ("Goldenline"), informs about termination of these consultations due
to the termination of employment with majority of Goldenline’s employees under the voluntary leave program.
Execution of the restructuring activities, including reduction of employment
at Goldenline, is related to the decrease in the company's revenues from its core operating activities. The negative impact of the coronavirus pandemic on Goldenline’s activities and the lack of an objective opportunity to improve the company's financial standing in the foreseeable time have caused the Company's Management Board to undertake decisive restructuring actions, including a significant reduction in employment at Goldenline.
As a part of the voluntary leave program, the employment relationship ended
with 26 employees, representing nearly 80% of the Goldenline staff. The cost
of implementing the voluntary leave program will amount to PLN 0.9 million and will affect Agora Group’s financial results in the second quarter of 2020.
Legal basis: Article 17 § 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Regulation
on market abuse) and repealing Directive 2003/6/EC of the European Parliament
and of the Council and Commission Directive 2003/124/EC, 2003/125/EC
and 2004/72/EC (Official Journal EC L 173 of 12/06/2014).
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