GIGROUP (GIG): Acquisition of own shares by Issuer’s subsidiary for purpose of their redemption - raport 46

Raport bieżący nr 46/2018

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

The Management Board of Work Service S.A. (the "Issuer"), hereby informs that on 28 August 2018 concluded with its subsidiary, i.e. Exact Systems S.A. with its registered seat in Częstochowa (the “Company”) and Mr. Tomasz Misiak, Mr. Tomasz Hanczarek, Mrs. Marta Pawłowicz, Mrs. Joanna Paprocka-Gajek, Mrs. Joanna Kotylak, a company Ala Moana Partners LLC, a company Profi Investments S.A., Mr. Wojciech Skrzydeł, Mr. Wojciech Mora, a company Tri Star Investments Sp. z o.o. S.K.A. and Mr. Paweł Gos and Mr. Lesław Walaszczyk (the “Shareholders” and together with the Company and the Issuer – the “Parties”) agreement on the acquisition of shares for the purpose of their redemption (the “Agreement”).

Pursuant to the Agreement, the Shareholders sold to the Company their series B, BA, BB, BC, BD, BE, BF, BG, BH, C, CA, CB, CC, CD, CE, CF, CG, CH shares in the Company (the “Shares”) for the total price amounting to PLN 33,275,023.35. The Shares have been acquired for the purpose of their redemption.

Pursuant to the Agreement, payment for the Shares shall occur on the day of sale of all Issuer’s shares in the Company to Remango Investments Sp. z o.o. with its registered office in Warsaw (the “SPV). The Agreement provides for a rescission right for the Parties which can be executed until 30 November 2018, if the definitive share purchase agreement regarding sale of the Issuer’s shares in the Company is not concluded until 1 November 2018.

Pursuant to the Agreement, the investment agreements dated 5 August 2016 and 24 November 2018 concluded between the Parties has been terminated. If the Parties rescind the Agreement, the abovementioned investment agreements shall become valid and enforceable.

As a result of the analysis, the Issuer found that it is justified that the indicated above information should be qualified as confidential information within the meaning of Article 17(1) MAR, subject to publication in the form of this report.