WSE Obtaining the approval of the Issuer's Supervisory Board for the implementation of the intended sale transactions of the Issuer's subsidiaries, i.e. Work Service Czech s.r.o. and Work Service Slovakia s.r.o. to GI International SRL

The Management Board of Work Service S.A. ("Issuer" or "Company"), with reference to the current report No. 9/2021, informs that today the Supervisory Board of the Issuer has agreed to the Issuer to carry out transactions consisting in the sale of all shares of the Issuer's subsidiaries, i.e. Work Service Czech s.r.o. and Work Service Slovakia s.r.o. to GI International SRL (wholly owned by Gi Group SpA, based in Milan) ("Transactions"). At the same time, the Supervisory Board accepted the key terms of the Transaction specified in the draft of the relevant framework agreement, which includes in particular the determination of the selling price of the shares of the above-mentioned subsidiaries for the total amount of PLN 29,200,000.00, the payment of which may be made in cash or by setting off the Issuer's claims against GI International SRL or by settling part of the amount in cash and the remaining amount by a deduction.
The implementation of the Transaction subject to the consent of the Supervisory Board is the result of the conclusion of an operational cooperation agreement within the Gi Group, about which the Issuer informed in the current report 91/2020. The granting of this consent allows the Management Board of the Company to commence works aimed at the execution of the Transaction. As a result of the analysis carried out, the Issuer assumed that qualification of the above-mentioned information as confidential within the meaning of Art. 17 (1) MAR, subject to publication in the form of this report, is justified. Legal basis: Art. 17(1) and (4) of MAR (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 Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. Signatures: Iwona Szmitkowska – President of the Management Board Nicola Dell’Edera - Vice-President of the Management Board