The Management Board of Aforti Holding SA based in Warsaw („the Company”, „the Issuer”) hereby announces, that on 11th April 2018 in a private placement, it sold 1 334 872 of shares of its subsidiary Aforti Finance S.A. headquartered in Warsaw („Aforti Finance”, „the Subsidiary”), which represents 14,41% of all shares held by the Company before the transaction.
The selling price of shares of the Subsidiary was PLN 5,20 per share, which means the valuation of Aforti Finance is PLN 57 200 000,00. As a result of the selling transaction of the Subsidiary’s shares, the Issuer received PLN 6 941 334,40.
Before entering into the transaction, the Issuer held 9 262 632 shares of the Subsidiary with total nominal value PLN 9 262 632,00 which represents 84,21% participation in the Subsidiary’s share capital and in total number of votes held by shareholders at the annual general meeting.
After entering into the transaction, the Issuer holds 7 927 760 shares of the Subsidiary with total nominal value PLN 7 927 760,00 which represents 72,07% participation in the Subsidiary’s share capital and in total number of votes held by shareholders at the annual general meeting.
The selling of Aforti Finance’s shares by the Issuer is connected with realization of development strategy and with the plans of admission of the financial instruments of the Subsidiary to trading on the Alternative Trading System to the NewConnect market.
The Management Board of the Company moreover informs that it does not intend to sell the Subsidiary’s shares to a degree which would cause loss of the dominant shareholder’s position and consequently loss of control over the Subsidiary.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information