RB 35:Conclusion of the conditional agreement for the sale of share rights in Work Service GmbH & Co. KG
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 | 35 | / | 2020 | ||||||||
| Data sporządzenia: | 2020-06-05 | |||||||||||
| Skrócona nazwa emitenta | ||||||||||||
| WORK SERVICE S.A. | ||||||||||||
| Temat | ||||||||||||
| Conclusion of the conditional agreement for the sale of share rights in Work Service GmbH & Co. KG | ||||||||||||
| Podstawa prawna | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Treść raportu: | ||||||||||||
| Management Board of Work Service S.A. ("Issuer") informs that on 05 June 2020, the Issuer's subsidiaries, i.e. Work Service SPV Sp. z o.o. 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 "Seller") and the Issuer as guarantor, concluded 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"), a conditional agreement on the sale of the share rights in Work Service GmbH & Co. KG with its registered office in Düsseldorf (number 23071 in the German Commercial Register) ("Company") ("Agreement" or "Transaction"). Under the Agreement, the Sellers undertook to sell 74% and 26% of their share rights in the Company, respectively, with a total nominal value of EUR 100,000.00, representing in total 100% of the rights to shares in the Company ("Share Rights"). The selling price of the Share Rights was set at PLN 4,500,000,000.00 ("Price"). The agreement was concluded subject to the fulfilment of specific conditions precedent, in particular the consent of the banks of the Issuer's capital group to release the pledge on the share rights in the Company and the further actual release of the above-mentioned pledge. Furthermore, under the Agreement, the Issuer shall provide a general guarantee in respect of all obligations and liabilities of the Sellers arising from the Agreement. The remaining provisions of the Agreement do not deviate from the conditions applied in agreements of this type, in particular with regard to the provisions concerning the prohibition of competitive activity, statements and assurances of the Sellers and the liability rules of the parties. Additionally, after closing the Transaction, the Buyer will immediately repay to the Issuer the amounts resulting from intergroup liabilities of the Company and its subsidiaries in the amount of about PLN 3,000,000.00. The total value of the Transaction will amount to PLN 7,500,000.00 and consists of the Price and the amount of the repayment of intragroup liabilities. The planned sale of Share Rights is one of the elements of restructuring measures carried out by the Issuer within the capital group of the Issuer and Gi Group S.p.A. investment in the Issuer, about which the Issuer informed in previous current reports. 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 _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 | ||
| 2020-06-05 | Iwona Szmitkowska | President of the Management Board | |||
| 2020-06-05 | Jarosław Dymitruk | Vice-president of the Management Board | |||
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