| The Management Board of Work Service S.A. ("Issuer"), with reference to the current report no 88/2019 informs that on 23th December 2019 the Issuer, as a seller ("Seller"), concluded with Książek Holding spółka z ograniczoną odpowiedzialnością, based in Warsaw at ul. Prosta 32, entered into the National Court Register kept by the District Court for the Capital City of Warsaw, XII Commercial Department of the National Court Register under KRS number 0000510073, NIP 5272715282; with a share capital of PLN 1 500 000.00, as the buyer ("Buyer"), a final contract on the sale of shares in Antal sp. z o.o. with its registered office in Wrocław ("Company"), which is a subsidiary of the Issuer ("Agreement") ("Transaction"). Under the Agreement Issuer sold to the Buyer and the Buyer purchased all owned by the Issuer 27,917 shares in the Company with a nominal value of PLN 500.00, constituting, as of the date of the Agreement, 100% of the Company's share capital and entitling to 100% of votes at the Company's meeting of shareholders ("Shares"). The sales price of the Issuer's shares has been set at 5,300,000.00 PLN. The sale price will partly affect the Issuer's account and partly will be directly transferred to the repayment of other (non-bank) liabilities. Other terms of the Agreement do not differ from those used in this type of agreement. The Issuer, also with reference to report 88/2019, informs that as part of closing the transaction of sale of Shares, the price for the Antal the value of specialized talents trademark in the amount of PLN 5,100,000.00 + VAT was paid and the intra-group liabilities were repaid to the Issuer in the amount of approx. PLN 1,240,000.00. Shares sale transaction is one of the elements within the Issuer's capital group of restructuring activities and is a consequence of the review of strategic options carried out by the Management Board, within the framework of which a divestment strategy was adopted in relation to some of the companies from the group (about which the Issuer informed in the current report no 66/2019). The Transaction is made with the approval of the banks financing the Issuer and the whole assets from the Transaction are destined for payment of other (than bank) liabilities and improvement of the working capital. As a result of the analysis carried out, the Issuer assumed that qualification of the above-mentioned information as confidential within understanding of Art. 17 sec. 1 MAR, subject to publication in the form of this report, is justified. Legal basis: Art. 17(1) of Regulation no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. Signatures: Iwona Szmitkowska – President of the Management Board Jarosław Dymitruk - Vice-President of the Management Board | |
