GIGROUP: strona spółki
28.07.2020, 21:59
WSE Execution of the conditional agreement for the sale of share rights in Work Service GmbH & Co. KG
The Management Board of Work Service S.A. („Issuer”) – with relation to current report no 35/2020 of 5 June 2020 regarding conclusion of the conditional agreement for the sale of share rights in Work Service GmbH & Co. KG (“Company”) by the Issuer’s subsidiaries, i.e. Work Service SPV with its registered office in Wrocław (KRS: 0000499130) as Seller 1, Work Service International Sp. z o. o. with its registered office in Wrocław (KRS: 0000261009) as Seller 2 (jointly as "Sellers") and the Issuer as Guarantor with Gi Group Deutschland GmbH with its registered office in Düsseldorf (number HRB 70863 in the German Commercial Register) - being a subsidiary of GI INTERNATIONAL S.R.L., which is fully owned by Gi Group SpA., as the buyer ("Buyer") (the “Agreement”) informs that today it has received an information according to which on 27 July 2020, conditions precedent set out in the Agreement, of which the Issuer informed in current report no 35/2020, has been fulfilled.
The Sellers sold respectively 74% and 26% of their share rights in the Company, with a total nominal value of EUR 100,000.00, representing in total 100% of the rights to shares in the Company for the total price of PLN 4,500,000.00 ("Price"), which Price has been paid to the Sellers. Pursuant to the Agreement, within 10 working days from 27 July 2020, the Buyer shall repay to the Issuer intragroup liabilities in the amount of around PLN 3,300,000.00. The Issuer intends to allocate the amount of PLN 7,500,000.00 received as a result of the transaction, for the repayment of the bridge loan, of which the Issuer informed about in current report no 44/2020 of 24 July 2020 on receiving the full amount of the Bridge Loan by the Issuer in total of PLN 20,000,000.00. 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
The Sellers sold respectively 74% and 26% of their share rights in the Company, with a total nominal value of EUR 100,000.00, representing in total 100% of the rights to shares in the Company for the total price of PLN 4,500,000.00 ("Price"), which Price has been paid to the Sellers. Pursuant to the Agreement, within 10 working days from 27 July 2020, the Buyer shall repay to the Issuer intragroup liabilities in the amount of around PLN 3,300,000.00. The Issuer intends to allocate the amount of PLN 7,500,000.00 received as a result of the transaction, for the repayment of the bridge loan, of which the Issuer informed about in current report no 44/2020 of 24 July 2020 on receiving the full amount of the Bridge Loan by the Issuer in total of PLN 20,000,000.00. 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