The Management Board of Aforti Holding S.A. with its registered office in Warsaw (hereinafter referred to as „Issuer“) hereby informs that today the shareholders (entities from Aforti Group) of subsidiaries operating in Romania have decided to change their business profiles.
The shareholders of Aforti Finance Romania IFN S.A. have adopted a resolution to change their name from the current one to Aforti Factor Romania IFN S.A.
The shareholders also made a decision on obliging the Management Board of the company to change its business profile, enabling it to provide factoring services for entrepreneurs, and a decision on temporary suspension of lending activity.
The change in the scope of business activity was caused by new legal regulations recently introduced in Romania concerning the so-called „credit holidays“ and due to limitations in the ability to accurately assess credit risk related to the corona virus pandemic.
As a result of these changes, Aforti Factor Romania IFN S.A. will provide factoring services for the SME sector and will have a better matched balance sheet structure for the period of the expected economic slowdown, i.e. short-term assets and long-term liabilities. The adopted resolutions do not require any significant financial investments on the part of Aforti Factor Romania IFN S.A.
The shareholders of Aforti Exchange Romania S.A. have adopted a resolution on changing the name from the current one to Aforti Distribution Romania S.A.
The shareholders of Aforti Exchange Romania S.A. have decided to oblige the Management Board of the Company to change its business profile, enabling the provision of financial intermediation services on the territory of Romania with particular emphasis on the products of the Aforti Group. The change in the scope of business activities was caused by the 2nd Payment Services Directive (PSD2) introduced in Romania, which imposed an obligation on Aforti Exchange Romania to obtain a licence of a payment institution. The company’s management decided to focus on implementation of the new business profile and to temporarily suspend foreign exchange operations until such time as the said license is obtained. The adopted resolutions do not require any significant financial investment on the part of Aforti Distribution Romania S.A. and will allow the company to use the potential of having agreements and relationships with a group of over one thousand companies from the SME sector.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information