GIGROUP (GIG): Adoption by the Management Board of the Issuer of the decision concerning the intention to dispose shares of a subsidiary. - raport 52

Raport bieżący nr 52/2016

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

The Management Board of Work Service S.A. (hereinafter: “Issuer”) informs that pursuant to a relevant resolution of the Management Board of the Issuer, the Issuer expressed its consent concerning the intention to dispose up to 599,999 A series Shares of the Issuer (hereinafter: “Shares”) of the Issuer's subsidiary (in which it currently holds 71.91% of the total number of votes on the general meeting), that is Exact Systems S.A. with its registered office in Częstochowa (hereinafter: "ES"). The Shares may be the subject of disposal as part of the first public offer of ES shares (comprising in particular shares of the new issuance of ES), which shall take place under a prospectus drawn up for this purpose, after its approval by the Financial Supervision Authority (hereinafter: "IPO"). The above number of Shares includes the result of the one-for-ten split of ES shares adopted by the general meeting of ES.


The subject of the business activity of ES is provision of services in terms of control of the quality of parts, components and products, mainly in the automotive business. ES is the key company in the Issuer's Capital Group.

The shares entitle currently to 5.67% of the total number of votes on the general meeting of ES. As a result of IPO (both in the case of disposal of the Shares and taking up the shares from the new ES issuance as part of IPO), the Issuer will not lose control over ES, as the Issuer shall retain the status of the dominant company.

As the Shares are currently encumbered with registered and financial pledge, which secure the credit liability pursuant to the credit agreement concluded by the Issuer with banking consortium (about which the Issuer informed in the current report no. 43/2015). The Shares shall be the subject of disposal as part of IPO only as free of encumbrances, that is after prior release of the above securities, which requires approval of the crediting banks.

The price of the shares offered as part of IPO shall be determined taking into consideration recommendation of the brokerage house offering these shares, based on the results of the process of the order book building, in accordance with the conditions described in the above prospectus.

Legal basis:

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

DataImię i NazwiskoStanowisko/FunkcjaPodpis
2016-09-27Maciej WituckiPresident of the Management Board
2016-09-27Iwona SzmitkowskaVicepresident of the Mangement Board

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