GIGROUP (GIG): Request for early redemption of Y-series bonds - raport 77

Raport bieżący nr 77/2018

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

Work Service SA Management Board ("Issuer"), informs that the Issuer received requests for early redemption of Y series bonds made by natural persons in the total amount of 2,100 series Y bonds, value of PLN 1.000 each, of the total value of PLN 2,100,000. Persons submitting the above request, as the reason for the request, indicate the violation specified in the Y Series Bond Issue Conditions, i.e. financial problems of the Issuer, in connection with which the Issuer started negotiations with creditors with the intention of changing the rules of repayment of its debt.

The Issuer continues to negotiate with key bondholders of series T, W, Y bonds, about which the Issuer informed in current report no 69/2018. The objective of mentioned negotiations is an assurance of total restructuring or refinancing of the bonds. Until the negotiations are completed, the Issuer undertook not to repay any of the bondholders, in the purpose of equal treatment of creditors. Considering the above, the Issuer will submit an invitation to this negotiations and proposed conditions of restructuring to each bondholder, who submits a request for early redemption or whose bonds will not be bought out on time. The Issuer expects that above mentioned talks shall complete by December 14, 2018.

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.

Legal basis:

Article 17 (1) MAR (Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC.

Signatures:

Maciej Witucki – President of the Management Board

Tomasz Ślęzak – Vice-president of the Management Board