Individual and Consolidated quarterly report for Q II 2018 CR 83/2018

A merger of the subsidiary Aforti Collections S.A. with a debt recovery company CR 82/2018

The board of Aforti Holding S.A. (“the Company”, “the Issuer”) headquartered in Warsaw hereby announces to the public that on 10th August 2018 a subsidiary of the Company: Aforti Collections S.A. headquartered in Warsaw (“the Subsidiary”, “Aforti Collections”) has concluded a contract (hereinafter: “Agreement”) for the purchase of 300 shares with a par value of PLN 1,000.00 each, representing 76.92% of the share capital of a company from the debt collection industry: LifeBelt sp. o.o. with its registered office in Lublin (hereinafter: “LifeBelt”).

The Issuer does not disclose the value of the transaction because of the trade secrets of the transaction applicable to both sides.

In connection with the concluded Agreement, the following companies: LifeBelt and Aforti Collections plan in the fourth quarter of this year make the connection process to use synergy and mutual exchange of their competitive advantages. LifeBelt will complement the structures of Aforti Collections by including an experienced team of managers, as well as by providing an innovative, proprietary IT system that allows effective service for both large companies and entrepreneurs from the SME sector, offering B2B services. At the same time LifeBelt will gain a professional commercial department and a shared services center (IT support, accounting and HR services, legal and marketing services), which were previously outsourced by this company. Following the legal finalization of the merger of both entities, their activities will be carried out under the common brand: Aforti Collections S.A..

Combination of the above companies will strengthen the position of Aforti Colections on the debt collection market and will allow for the transfer of solutions used in the recovery of mass claims to the sector of small and medium-sized enterprises (SME).

Aforti Collections will also develop a common commercial strategy that will take into account the know-how and experience of both companies in the debt collection industry.

LifeBelt, which began operations in January 2015, is an entity specializing in providing services related to receivables management, amicable debt collection, direct and court enforcement, industrial espionage and detective services. LifeBelt has an experienced and qualified team of 70 specialists. In 2017, LifeBelt serviced a debt portfolio worth PLN 789 million, while in the first half of 2018 this value amounted to almost PLN 220 million.
The company’s clients include well-known loan firms, leasing company, bank, debt servicing companies and companies from the marketing industry.

Conclusion of the Agreement constitutes the implementation of the Aforti Group’s development strategy for 2018-2020 in terms of development of subsidiaries’ structures in Poland.

Legal basis: Article 17 paragraph 1 of the MAR – confidential information

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O10 Series Bonds Allocation CR 81/2018

The Management Board of Aforti Holding SA based in Warsaw (“the Company”, “the Issuer”) hereby informs that on 6th August 2018 The Management Board passed a resolution of O10 series bonds allocation („the Bonds”). Subscription of the Bonds was conducted in accordance to a resolution of The Management Board on 23th July 2018 of O10 series bonds issue.
In accordance to the resolution of O10 series bonds allocation, The Board allocated 565 (five hundred sixty five) O10 series bonds of 1.000,00 (one thousand) PLN both nominal and emissional value each and 565.000 (five hundred sixty five thousand) PLN in total.

O10 series bonds are three-years unsecured bonds. Bondholders will be paid a monthly coupon at a constant percentage amount of 7,00% per annum. The O10 series bonds purchase date is 6th August 2021. The issued Bonds are denominated in Polish zloty (PLN) and were offered in private issue mode, only on Polish territory.

Legal basis: Article 3, Paragraph 1, Point 8) of the Exhibit 3 “Current and Periodical Information in the Alternative Trading System on the NewConnect market” to the Alternative Trading System Rules

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The  estimated  operational  and  sales  data  of  subsidiaries  Aforti  Finance  S.A.,  Aforti  Exchange  S.A., Aforti Exchange Romania S.A., Aforti Collections S.A. and Aforti Factor S.A. – July 2018 CR 80/2018

The board of Aforti Holding S.A. (“the Company”, “the Issuer”) headquartered  in  Warsaw hereby  announces  to  the public  the estimated operational  and  sales  results  of  Aforti  Finance  S.A.,  Aforti  Exchange  S.A., Aforti  Exchange Romania S.A., Aforti Collections S.A. and Aforti Factor S.A. the Issuer’s subsidiaries for July 2018

1) The estimated operational and sales results of Aforti Finance S.A. for July 2018:
At the end of July 2018 Aforti Finance SA granted 347 loans (35.55% more YoY) with total value PLN 36 057.15 thousand and it is an increase by 109,09% compared to 2017.

After the first seven months of 2018, there were filed 2 347 loan applications with total value PLN 293 978.22 thousand. The quantity of the loans rose up by 95.75% and their total value by 246.70% in relation to the same period in the previous year.

2) The estimated operational and sales results of Aforti Exchange S.A. for July 2018:
The currency  exchange  platform’s turnover in July 2018 reached 19 034,64 thousand EUR and was higher by 249,23% compared to the same period of the previous year. At the same time, after seven months of the current year, the turnover reached the level of 131 155.64 thousand EUR, an increase of 240.66% year-on-year.

3) The estimated operational and sales results of Aforti Exchange Romania S.A. for July 2018:
The value of trading on the currency exchange platform in Romania in July 2018 amounted to 4 957.46 thousand EUR. At the end of July 2018, Aforti Exchange Romania S.A. recorded 24 684.13 thousand EUR of the total turnover value.

In connection with the registration the Company on June 2017, the comparative data are not available.

4) The total estimated operational and sales data of Aforti Exchange for July 2018:
The total value of trading on the currency exchange platforms of Aforti Exchange operated in Poland and in Romania in July 2018 amounted to EUR 23 992.09 thousand, which in comparison to the same period in the previous year means an increase of 340.18%.

At the same time, cumulatively after the first seven months of this year the total value of turnover reached the level of EUR 155 839.77 thousand and it increased year-on-year by 304.78%

The total comparative data for 2017 include only the result generated by Aforti Exchange S.A. due to the fact that Aforti Exchange Romania S.A. was registered in June 2017.

5) The estimated operational and sales results of Aforti Collections S.A. for July 2018:
Nominal value of debt collection commissions on July 2018 reached PLN 456.52 thousand. This is a decrease of 71,87% YoY. The number of recovery orders amounted to 8 and was lower by 96.84% compared to July 2017.
The company concluded 4 contracts in the indicated month, which is a decrease by 80,00% compared to the same period in the previous year.

Cumulatively, at the end of July 2018, the nominal value of the debt collection orders amounted to PLN 10 127.35 thousand, which is a decline of 36.83% year-on-year. The number of orders also decreased by 90.43% from 14 156 to 1 355. At the same time, the number of debt recovery agreements concluded after the first seven month of this year, decreased by 51.06% to 46.

6) The estimated operational and sales results of Aforti Factor S.A. for July 2018:
In  July  2018  the  value  of  receivables  financed  by  Aforti  Factor  S.A.  amounted  to  PLN  2 105.31 thousand.  Further, at the end of July 2018 this value reached level of PLN 10 864.58 thousand.

The  date comparative  are  not  available  because the  Company had started  its  operating  activities from  January 2018.

A  table  containing  estimated  additional  data,  reported  for July  2018 together  with  the  comparative  data,  can be found in an annex to the current report.

Legal basis: Article 17 paragraph 1 of the MAR  – confidential information

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Buy out of the M16 series bonds CR 79/2018

The Management Board of Aforti Holding SA based in Warsaw (“the Company”, “the Issuer”) hereby announces, that on 1^st August 2018, in accordance with the Conditions of Issue which comprised an annex to Resolution of the Board no 02/19/07/2016 dated on 19^th July 2016, it purchased 675 of the M16 series Bonds to redemption of them.

Legal basis: Article 3, Paragraph 1, Point 6) of the Exhibit 3 “Current and Periodical Information in the Alternative Trading System on the NewConnect market” to the Alternative Trading System Rules

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