GIGROUP (GIG): Establishment of registered pledge on shares in the subsidiary - raport 39

Raport bieżący nr 39/2017

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

In reference to the current report no. 34/2017 of 30 March 2017, the Management Board of Work Service S.A. ("Issuer” or "Company”) informs about the establishment on this day of registered pledge on 75% of Issuer’s shares of the nominal value of HUF 1,000,000.00 each and aggregate nominal value of HUF 75,000,000.00 (“Shares”), representing 75% of the share capital in the Issuer’s subsidiary - Prohuman 2004 Munkaerő Szolgáltató és Tanácsadó Korlátolt Felelősségű Társaság with its registered office in Budapest (“Prohuman 2004 Kft.”) and further shares in Prohuman 2004 Kft. which shall be acquired by the Issuer in the future.

The registered pledge was established by the competent court which made entry in the register of pledges in accordance with the decision of 18 April 2017.

The establishment of the registered pledge on the above-mentioned shares of Work Service S.A. have been made on the basis of the Agreement on registered pledge on shares in Prohuman 2004 Kft. (“Agreement”) concluded on 7 April 2017 between Work Service S.A. as a pledger and BANK BGŻ BNP Paribas S.A. ("Pledgee 1” or "Agent”), Bank Millennium S.A. ("Pledgee 2”) and BANK ZACHODNI WBK S.A. ("Pledgee 3”), RAIFFEISEN BANK POLSKA S.A. ("Pledgee 4”) and Powszechna Kasa Oszczędności Bank Polski S.A. ("Pledgee 5”) hereinafter jointly referred to as “Lenders” and Prohuman 2004 Kft. in order to secure payment of cash amounts resulting from the Credit Line Agreement, the conclusion of which the Issuer announced in the current report number 43/2015 of 19 November 2015 and amended by the annex of 30 March 2017, the conclusion of which the Issuer announced in the current report number 34/2017 of 30 March 2017.

As a result of conducted analysis, the Issuer decided that it is justified to qualify the above-mentioned information as confidential according to Art. 17 sec. 1 MAR subject to the publication in form of this report.

Legal basis:

Art. 17 sec. 1 MAR (Resolution of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (...)