GIGROUP (GIG): Acquisition by Work Service S.A. assets of significant value by taking over by Work Service S.A. of shares with increased share capital of a subsidiary. - raport 7

Raport bieżący nr 7/2016

Podstawa Prawna:
Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieżące i okresowe

The Management Board of Work Service S.A. ("The Issuer") informs that on 21 March 2016 The Issuer took over 96,000 (ninety-six thousand) new shares (“ The Shares”) with the nominal value of 500.00 PLN (five hundred zloty) each and the total value of 48.000.000,00 PLN (forty-eight million zloty) in the affiliated company - Sellpro Sp. z o. o. ("The Company") with its registered office in Wrocław. Shares, which the Issuer has, represent 100% of the share capital and 100 % of the total number of votes at the General Meeting of Shareholders. Shares have been took over by The Issuer in the exercise of the right of priority granted to the Issuer, in accordance with the resolution of the Extraordinary Shareholders' Meeting, under which the share capital of the Company was increased from the amount of 429 500.00 PLN (four hundred twenty-nine thousand five hundred zloty) to the amount of 48,429,500.00 PLN (forty-eight million four hundred twenty-nine thousand five hundred zloty) i.e. by the amount of 48.000.000,00 PLN (forty-eight million zloty) by creating 96,000 (ninety-six thousand) new shares with the nominal value of 500.00 PLN (five hundred zloty) each and the total value of 48.000.000,00 PLN (forty-eight million zloty).

The main object of business activity of the Company is Other activities related to the provision of workers (PKD 78.30.Z).

The Issuer took over The Shares for the total value of 48.000.000,00 PLN (forty-eight million zloty). The Issuer paid by cash in full contribution to the share capital on 23 March 2016.

The book value of the Shares took over by the Issuer in the increased share capital of the Company is in the accounting book of the Issuer 48.000.000,00 PLN (forty-eight million zloty). The Shares are long-term investments of the Issuer.

Between the Issuer and the persons managing and supervising The Issuer and The Company and managing and supervising the Company, taking place the following links: (i) The Issuer is a parent company of the Company, holding 100 % of the share capital of the Company.

The source of financing acquisition of the Shares by the Issuer are own funds and loans from dependent subject.

The Issuer is the sole shareholder of the above mentioned Company and after the registration of the increase of the share capital by way of issuing the newly created Shares shall have 100% in the share capital of The Company. After the registration of the share capital increase The Issuer shall have 96.859 shares with the nominal value of 500.00 PLN each and the total nominal value 48,429,500.00 PLN.

The criterion constituting the basis for the recognition of the aforementioned assets as assests of substantial value is the criterion that their value is greater than 10% of the amount of the Issuer's own capital.

Legal basis:

Art. 56(1)(2) of the Act on public offering and conditions for introducing financial instruments into organized trading system and on public companies (consolidated text, Dz. U. no 185, item 1439 from 2009, as amended) referring to § 5 (2)(1) of Regulation of the Minister of Finance from 19 February 2009 regarding the current information given by the issuers of securities and the conditions for regarding as equivalent of the information required by law of a country which is not a member state.

Signatures:

Iwona Szmitkowska – Vice-President of the Management Board

Tomasz Ślęzak – Vice-President of the Management Board