The board of Aforti Holding S.A. (“the Company”, “the Issuer”) headquartered in Warsaw hereby announces to the public, that he got the information that on November 15, 2019, the Issuer’s subsidiaries: Aforti Finance S.A. based in Warsaw (hereinafter: “Aforti Finance”) and Aforti Factor S.A. with its registered office in Warsaw (hereinafter: “Aforti Factor”) concluded with Aforti Collections S.A. with its registered office in Warsaw (hereinafter: “Aforti Collections”) the assignment agreements of overdue receivables from loans granted and financed invoices of small and medium enterprises.
The above debt portfolios were acquired by Aforti Collections for a total price of PLN 5,100,000.00 (in words: five million one hundred thousand PLN). The agreements do not contain suspensive conditions, nor do they provide for contractual penalties, and their other provisions do not depart from market standards used for such contracts.
Conclusion of the above debt sale agreements are dictated by the growing scale of operations of Aforti Factor and Aforti Finance, as well as the market practice followed by domestic and foreign entities with a similar profile of activity. The Aforti Collections company, which belongs to the Capital Group, is a debt collection company specializing in receivables management, including the purchase and servicing of debt portfolios, which will allow achieving the optimal financial result on managed portfolios being the subject of sale.
The above transactions will have an impact on the consolidated financial results of the Aforti Group, which will be presented in the periodic report for the fourth quarter of 2019. Upon obtaining reliable information in the above scope, the Issuer’s Management Board will publish an appropriate current report.
Legal basis: Article 17 para. 1 MAR – confidential information