RB 58:No payment to the Issuer of the price for shares in ProService
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 | 58 | / | 2019 | ||||||||
| Data sporządzenia: | 2019-07-31 | |||||||||||
| Skrócona nazwa emitenta | ||||||||||||
| WORK SERVICE S.A. | ||||||||||||
| Temat | ||||||||||||
| No payment to the Issuer of the price for shares in ProService | ||||||||||||
| Podstawa prawna | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Treść raportu: | ||||||||||||
| Management Board of Work Service S.A. (the “Issuer” or the “Company”), in reference to current reports No. 63/2017, No. 39/2018 and No. 40/2018, regarding to the Issuer's sale process for PROLOGICS (UK) LLP with its registered office in London (the "Buyer") 100% shares in ProService Worldwide (Cyprus) Limited - established under the law of the Republic of Cyprus registered under number HE 209802, based in Nicosia ( "ProService") informs that until 30 July 2019, payment of the price for shares in ProService, which consisted of PLN 7,000,000 and "Guarantee Price" which is a guarantee of the debt held by ZAO "Work Service" (joint stock company) based in Moscow and ProService, to the amount PLN 20,500,000.00, was not received. Therefore the Buyer the payment deadline for that price has expired. The Issuer informs that due to the lack of repayment of receivables by ZAO "Work Service" (joint stock company) based in Moscow and ProService has already made write-offs for these receivables. Before the write-off, they amounted to PLN 27,736,605.87 and after write-offs amounted to PLN 16,126,663.01. Currently, the Company explains the reasons for non-payment and conducts talks with the Buyer aimed at satisfying the Company. The Issuer predicts that the negotiations and legal analysis of the possibility of termination of the present case will last no later than by the end of September this year. As a result of the conducted analysis, the Issuer decided that it is justified to classify the information indicated above as confidential information within the meaning of Article 17 (1) of the MAR, subject to publication in the form of this report. Legal basis: Article 17 (1) 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 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 | ||
| 2019-07-31 | Iwona Szmitkowska | President of the Management Board | |||
| 2019-07-31 | Jarosław Dymitruk | Vice-President of the Management Board | |||
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