GIGROUP (GIG): Delayed public disclosure of the inside information relating to termination of the preliminary conditional share purchase agreement regarding shares in Exact Systems S.A. and recommencing the process of sale of shares of Exact Systems S.A. - raport 18

Raport bieżący nr 18/2018

Podstawa Prawna:
Art. 17 ust. 4 MAR - zawiadomienie o opóźnieniu ujawnienia informacji poufnej.

Pursuant to Art. 17 par. 1 and 4 of the Regulation of the European Parliament and of the Council (EU) no. 596/2014 dated 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 Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the “MAR”), the Management Board of Work Service S.A. (the “Issuer”), discloses the following inside information whose public disclosure was delayed by the Issuer on 15 May 2018 pursuant to Art. 17 par. 4 of the MAR:

On 15 May 2018 the preliminary conditional share purchase agreement regarding the acquisition of shares in Exact Systems S.A. with its registered seat in Częstochowa (the “Company”) concluded between the Issuer, Mr. Paweł Gos and Mr. Lesław Walaszczyk, as the sellers and Pololi Sp. z o.o. with its registered seat in Warsaw, special purpose vehicle controlled by Cornerstone Partners sp. z o.o. in cooperation with Oaktree Capital Management (UK) LLP, as the purchaser (the "Agreement"), whose conclusion has been disclosed in current report no 9/2018 dated 30 March 2018, terminated.

Termination of the Agreement is a result of non-satisfying by the parties one of the conditions precedent within the term stipulated in the Agreement.

Notwithstanding the above, the Issuer has not terminated the process of sale of Company’s shares, conducts the negotiations with Mr. Paweł Gos and Mr. Lesław Walaszczyk regarding the management buy-out transaction and also considers other scenarios of conducting the transaction.

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