GIGROUP (GIG): Fulfillment of a significant condition precedent - raport 89

Raport bieżący nr 89/2018

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

The Management Board of Work Service S.A. ("Issuer"), with reference to current report No. 86/2018 of December 6, 2018, informs that on December 10, 2018, a significant condition precedent specified in Annex 4 of 5 December 2018 ("Annex") has been met to the loan agreement of November 18, 2015 (the "Loan Agreement").

The condition precedent fulfilled today concerns the transfer of confirmations from factors confirming or substantiating by the Issuer that the total amount of factoring limits made available to the Polish entities of the Issuer's Capital Group, directly after the Annex enters into force, will not be lower than PLN 55,000,000.

The Issuer expects to meet the remaining conditions, which he reported in current report No. 86/2018 of December 6, 2018.

In the opinion of the Issuer's Management Board, the planned entry into force of the Annex will have a measurable and beneficial effect on the Issuer's financial situation, including liquidity. The intention of the Issuer's Management Board is to complete this process on 10 or 11 December 2018. The Issuer will inform about the effects of the talks and arrangements made in separate current reports.

As a result of the analysis, the Issuer found that it is justified that the 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.