The Management Board of Aforti Holding S.A. with its seat in Warsaw, hereinafter referred to as the ‘Company’, ‘Issuer’ informs that today, i.e. on 17 June 2020, it signed a letter of intent with the main shareholder of EPMAP LIMITED with its seat in Cyprus, pursuant to which the Parties decided to take all the steps to acquire by Aforti Holding S.A. jointly up to 100% of shares in EPMAP LIMITED shares, once the conditions have been met, including obtaining an E-Money Institution (EMI) licence. EPMAP LIMITED has an initial positive decision to grant it the E-Money Institution license granted by the Central Bank of Cyprus and is in the final stage of the licensing process.
After the ownership of the shares has passed in the first stage of the investment, the Issuer will be entitled to establish a new management board and start operating activities of the company. Therefore, the Issuer consistently implements the strategy of the Aforti capital group consisting in obtaining a licence of the EMI electronic money institution.
The conclusion of this letter of intent allows for the completion of all other processes aimed at obtaining an EMI licence and a licence of a payment institution, which have been carried out so far within the Aforti Capital Group. Activities undertaken in other European countries by subsidiaries of Aforti Holding S.A., i.e. companies registered in Bulgaria, Lithuania or Romania will not be continued as unjustified activities in the light of the letter of intent.
The detailed rules and modalities of implementation of the individual cooperative activities referred to above will be laid down in separate agreements. The Issuer will inform about the next stages of the cooperation with the next current reports.
Legal basis: Article 17 paragraph 1 of the MAR – confidential informationt.j.)