GIGROUP (GIG): Decision to launch a review of policy options. - raport 31

Raport bieżący nr 31/2019

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

The Management Board of Work Service S.A. ("Issuer", "Company" or "Borrower") informs that on 21 March 2019 the Issuer decides to initiate a review of strategic options in order to select the most advantageous way to implement the long-term strategy of the Company and the entire Work Service Capital Group.

The planned development of the Group's business activity is focused on deepening the development of business on the domestic market of personnel services and cross-border exchange of employees to and from Poland. As part of the strategy update, the Company plans to analyse in the following areas:

1.investment activities, in particular further disinvestments and potential new investments strengthening the implementation of the strategy,

2.the Company's debt, including repayment or refinancing of bank loans and the Company's bond debt,

3.alternative sources of financing for the Work Service Capital Group, in particular in the form of an issue of shares, warrants, bonds, bonds convertible into shares or other equity and debt instruments.

The review of strategic options is to identify the most advantageous way of implementing the strategy of long-term growth of the value of Work Service S.A. by strengthening the Company's leading market position in the personnel services industry in Poland.

In the process of reviewing strategic options, the Management Board will cooperate with a financial advisor and maybe a brokerage house.

As a result of the analysis carried out, the Issuer concluded that it is justified to classify the information indicated above as confidential information within the meaning of Art. 17.1 of the MAR, subject to publication in the form of this report.

Legal basis:

Art. 17 sec. 1 MAR (Regulation of the European Parliament and of the Council (EU) NO. 596/2014 of 16 April 2014 on the Market Abuse and repealing the Directive 2003/6/EC of the European Parliament and of the Council 2003/124/EC, 2003/125/EC i 2004/72/EC).

Signatures:

Iwona Szmitkowska – President of the Management Board

Jarosław Dymitruk - Vice-President of the Management Board