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30.01.2020, 13:16
WSE Termination of the installment agreement by Social Insurance Institution and submission of applications for new installment arrangements.
Management Board of Work Service S.A. (hereinafter referred to as "the Issuer" or "the Company") - in reference to current report No. 28/2019 of 28/02/2019 regarding the conclusion by the Issuer and the Issuer's subsidiary - Industry Personnel Service Sp. z o.o. ("Industry Personnel Service") of the installment agreement with the Social Insurance Institution, ("Installment Agreement") and current report No. 57/2019 of 15/07/2019 regarding the amendment of the Installment Agreement - informs that today he learned the content of the letter of the Social Insurance Institution ("SII") dated 22/01/2020 regarding the termination of the Installment Agreement.
In connection with the termination of the Installment Agreement, the obligations of the Issuer and Industry Personnel Service towards the SII became due. At the same time, the Management Board of the Issuer informs that the Company and Industry Personnel Service have applied to the SII for the payment of arrears in social security contributions and the conclusion of new installment arrangements covering all due liabilities to SII in the total amount of PLN 57,149,831.00 respectively in the case of the Issuer and, 9,463,993.00 PLN in the case of Industry Personnel Service. New applications for installment arrangements have been developed on the basis of current assumptions regarding the planned schedule of obtaining financing by the Issuer as part of the ongoing review process of strategic options, about which the Issuer informed in current reports No. 66/2019 and No. 31/2019, including based on the state of talks with an international sector investor, which participates in negotiations with the Issuer's financial creditors, the Issuer's shareholders and shareholders of the Issuer's subsidiaries, about which the Issuer informed in current report No. 1/2020. The Issuer and Industry Personnel Services will inform about the possible conclusion of new installment arrangements in separate reports. As a result of the analysis, the Issuer has determined that it is justified to classify the above information as confidential information within the meaning of art. 17 clause 1 MAR, subject to publication in the form of this report. Legal basis: Article 17 para. 1 MAR _ Regulation of the European Parliament and of the Council _UE_ NO 596/2014 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. Signatures: Iwona Szmitkowska – President of the Management Board Jarosław Dymitruk – Vice-President of the Management Board
In connection with the termination of the Installment Agreement, the obligations of the Issuer and Industry Personnel Service towards the SII became due. At the same time, the Management Board of the Issuer informs that the Company and Industry Personnel Service have applied to the SII for the payment of arrears in social security contributions and the conclusion of new installment arrangements covering all due liabilities to SII in the total amount of PLN 57,149,831.00 respectively in the case of the Issuer and, 9,463,993.00 PLN in the case of Industry Personnel Service. New applications for installment arrangements have been developed on the basis of current assumptions regarding the planned schedule of obtaining financing by the Issuer as part of the ongoing review process of strategic options, about which the Issuer informed in current reports No. 66/2019 and No. 31/2019, including based on the state of talks with an international sector investor, which participates in negotiations with the Issuer's financial creditors, the Issuer's shareholders and shareholders of the Issuer's subsidiaries, about which the Issuer informed in current report No. 1/2020. The Issuer and Industry Personnel Services will inform about the possible conclusion of new installment arrangements in separate reports. As a result of the analysis, the Issuer has determined that it is justified to classify the above information as confidential information within the meaning of art. 17 clause 1 MAR, subject to publication in the form of this report. Legal basis: Article 17 para. 1 MAR _ Regulation of the European Parliament and of the Council _UE_ NO 596/2014 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. Signatures: Iwona Szmitkowska – President of the Management Board Jarosław Dymitruk – Vice-President of the Management Board