RB 55:Conclusion by the Issuer of an Annex to the Restructuring Agreement and Annex No. 9 to the Credit Agreement.
Firma: WORK SERVICE SPÓŁKA AKCYJNASpis treści:
1. RAPORT BIEŻĄCY
2. MESSAGE (ENGLISH VERSION)
3. INFORMACJE O PODMIOCIE
4. PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
| KOMISJA NADZORU FINANSOWEGO | ||||||||||||
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| Raport bieżący nr | 55 | / | 2020 | ||||||||
| Data sporządzenia: | 2020-08-11 | |||||||||||
| Skrócona nazwa emitenta | ||||||||||||
| WORK SERVICE S.A. | ||||||||||||
| Temat | ||||||||||||
| Conclusion by the Issuer of an Annex to the Restructuring Agreement and Annex No. 9 to the Credit Agreement. | ||||||||||||
| Podstawa prawna | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Treść raportu: | ||||||||||||
| Management Board of Work Service S.A. ("Issuer" or "Company"), - in relation to current reports: (i) No. 10/2020 concerning the conclusion of negotiations with the Issuer's lending banks ("Banks") on the change of financing conditions of the Issuer, (ii) No. 12/2020 and No. 12/2020 K, on the conclusion of an investment agreement of 13 February 2020 ("Investment Agreement") with Gi International S.R.L., with its registered office in Milan, Italian Republic, owned by Gi Group S.P.A. ("Investor"), specifying, among other things, the terms and conditions of granting the Company financing by the Investor for the purposes of restructuring the Company's existing debt to the Banks and financing the current operations of the Company's capital group, (iii) No. 27/2020 concerning the conclusion by the Issuer of an initial agreement with the Banks covering the arrangements for restructuring the Issuer's debt, (iv) No. 42/2020 concerning the conclusion of a cooperation agreement on debt restructuring between the Company and the banks ("Restructuring Agreement"), (v) No. 43/2020 concerning the signing of Annex No. 8 to the credit agreement of 18 November 2015. (about the conclusion of which the Company informed in current report no. 43/2015) ("Credit Agreement") and other documents specified in the Restructuring Agreement, and (vi) No. 46/2020 concerning the conclusion by the Issuer of an agreement extending the maturity of the loans specified in the Credit Agreement and the dates under the Restructuring Agreement I hereby inform you, that today an annex to the Restructuring Agreement ("RA Annex") and Annex No. 9 to the Credit Agreement ("CA Annex") were concluded. The conclusion of previous annexes to the Credit Agreement concerned, among others, current reports no. 34/2017, no. 7/2018, no. 82/2018, no. 86/2018, no. 15/2020, no. 17/2020, no. 28/2020, no. 43/2020 and no. 46/2020. By virtue of, respectively, the RA Annex and the CA Annex (i) the cut-off date for the fulfilment of conditions precedent and entry into force of the Restructuring Agreement, and (ii) the Final Repayment Date (within the meaning of the Credit Agreement) of the loans have been extended until 21 August 2020. Moreover, in accordance with the RA Annex, the conditions precedent specified in the Restructuring Agreement were changed, of which the Company informed in current report no. 42/2020 on the conclusion of the Restructuring Agreement ("Conditions precedent"), as follows: (a) a new Condition Precedent has been added, according to which the Investor will conclude a financing agreement with the Company and on this basis will pay the Company and its subsidiaries at least PLN 30,000,000.00; (b) The Condition Precedent of a specific point has been changed (d) of the current report no. 42/2020 on the conclusion of the Restructuring Agreement, in such a way that the Company and its Polish subsidiaries regulate their due liabilities towards the Tax Office and ZUS, with the exclusion of liabilities covered by agreements with the Tax Office or ZUS or applications for new agreements with the Tax Office or ZUS, which are subject to consideration by the Tax Office or ZUS. Other Conditions Precedent remain unchanged. In addition, by virtue of the RA Annex, the Company has undertaken that by 31 October 2020 The Company and its Polish subsidiaries that are in debt to the Tax Office or ZUS will enter into agreements with the Tax Office or ZUS to the extent of any outstanding public law liabilities or will repay any outstanding debt to the Tax Office or ZUS to the extent that it is not covered by any approved agreement(s) ("Condition Subsequent"). Under certain conditions, the Banks will be entitled to terminate the Restructuring Agreement if the Condition Subsequent is not met. Legal basis: Article 17(1) MAR _ Regulations 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 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 | ||||||||||||
| MESSAGE (ENGLISH VERSION) | |||
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| PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ | |||||
| Data | Imię i Nazwisko | Stanowisko/Funkcja | Podpis | ||
| 2020-08-11 | Iwona Szmitkowska | President of the Management Board | |||
| 2020-08-11 | Jarosław Dymitruk | Vice-President of the Management Board | |||
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