RB 72:Repayment of W, X and Z series bonds, and fulfilment of the Conditions Precedent under the Restructuring 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 | 72 | / | 2020 | ||||||||
| Data sporządzenia: | 2020-08-27 | |||||||||||
| Skrócona nazwa emitenta | ||||||||||||
| WORK SERVICE S.A. | ||||||||||||
| Temat | ||||||||||||
| Repayment of W, X and Z series bonds, and fulfilment of the Conditions Precedent under the Restructuring Agreement | ||||||||||||
| Podstawa prawna | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Treść raportu: | ||||||||||||
| Work Service S.A. Management Board (“Issuer” or “Company”), in relation to the current reports: (i) No. 10/2020 on 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 with the company under the name Gi International S.R.L., with its registered office in Milan, Italian Republic, owned by Gi Group S.P.A. (“Investor”), investment agreement of February 13th 2020 (“Investment Agreement”) specifying, among other things, the terms and conditions of granting financing to the Company 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 a preliminary agreement with crediting Banks covering arrangements related to the terms and conditions of debt restructuring of the Issuer; (iv) No. 39/2020 concerning the conclusion of a conditional agreement for the sale of Series W, X and Z bonds between the Company and the bondholders ("Bond Sale Agreement"); (v) No. 42/2020 concerning the conclusion of a cooperation agreement on debt restructuring between the Company and the Issuer's lending banks (“Restructuring Agreement”); (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 (vii) No. 55/2020 concerning the conclusion by the Issuer of annex to the Restructuring Agreement and Annex No. 9 to the credit agreement; and (viii) No. 63/2020 concerning the conclusion by the Issuer of annex to the Restructuring Agreement and Annex No. 10 to the credit agreement; informs that today the conditions precedent to the entry into force of the Restructuring Agreement, of which the Company informed in point (e) of current report No. 42/2020 and in point (a) of current report No. 55/2020, have been fulfilled, i.e.: (a) in accordance with the Bond Sale Agreement, the Company fully repaid all the Company's bonds of series W, X and Z of the total nominal value of PLN 35,250,000.00, for amount of PLN 10,575,000.00 (“Bonds”) and paid the interest due on account of the Bonds; and (b) on the basis of the financing agreement of August 10th 2020 ("Financing Agreement"), the Investor paid out financing to the Company and its subsidiaries in the amount of at least PLN 30,000,000.00. The Company informed about the redemption of all SHB series bonds and the conclusion of the Financing Agreement between the Company and the Investor in the current reports No. 71/2020 and 54/2020 respectively. 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. Legal basis: Article 17 section 1 MAR_EU Regulations of the European Parliament and of the Council 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: Thibault Lefebvre – President of the Management Board Iwona Szmitkowska – Vice-President of the Management Board | ||||||||||||
| MESSAGE (ENGLISH VERSION) | |||
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| PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ | |||||
| Data | Imię i Nazwisko | Stanowisko/Funkcja | Podpis | ||
| 2020-08-27 | Thibault Lefebvre | President of the Management Board | |||
| 2020-08-27 | Iwona Szmitkowska | Vice-President of the Management Board | |||
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