| | The disposal of shares of Stopklatka S.A.
Regulatory filing
The Management Board of Agora S.A. with its registered seat in Warsaw („Agora”) informs, in relation to regulatory filing 11/2018 dated March 7, 2018, that today i.e. on June 14, 2018 Agora executed the agreement to sell all its shares in Stopklatka S.A. with its registered seat in Warsaw („Stopklatka”) with Dom Maklerski BZ WBK, acting on behalf of and on the account of Kino Polska TV S.A. (“Kino Polska”) “(Transaction”).
As a result of the Transaction Agora today shall dispose of all its shares in Stopklatka (i.e. 4,596,203 ordinary shares constituting 41.14% of share capital of Stopklatka). The price per one share amounts to PLN 7.0 and the total value of the Transaction amounts to ca. PLN 32 million.
As a result of the Transaction the investment agreement between Agora and Kino Polska about which Agora informed in regulatory filing 06/2013 dated February 22, 2013 regarding Stopklatka expired.
Agora informed about its investment in Stopklatka in regulatory filings 06/2013, 22/2013 and 03/2014. Execution of the Transaction means discontinuation of investment in Stopklatka and, thus, discontinuation of Agora’s activity in the field of digital terrestrial television.
The Management Board of Agora estimates that the Transaction shall have a positive impact on the net financial result of the Agora Group in the second quarter of 2018. Estimated impact on the second quarter net result of the Agora Group and of Agora S.A. amounts to PLN 22.6 million and PLN 17.4 million, respectively.
Legal basis: Article 17, paragraph 1 of Regulation (EU) 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 directive 2003/124/EC, 2003/125/EC and 2004/72/EC.
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