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Termination of the contract with an entity authorized to audit financial statements CR 35/2018
The Management Board of Aforti Holding S.A. (hereinafter: “Company”, “Issuer”), in reference to current reports no. 88/2017 and 89/2017 dated on 1st December 2017 on the selection of statutory auditor for examination the separate and consolidated financial statements of Company for 2017 and in reference to current reports no. 3/2018 and 4/2018 dated on 10th January 2018 on the selection of statutory auditor for examination the separate and consolidated financial statements of Company for 2018, informs that the agreement concluded on 15th January 2018 (?Agreement”) between the Issuer and the Kancelaria Biegłego Rewidenta Małgorzata Kryszkiewicz, ul. Warszawska 288, 05-092 Łomianki, KIBR no. 3986, the register of statuatory auditors no. 11554, was terminated on 18th April 2018 by mutual agreement
The reason for terminating the Agreement was the lack of consent of the Company’s Management Board to the proposed amendment by the statutory auditor in order to extend the date of the audit of the Company’s financial statements for 2017.
During the term of the Agreement, there were no cases of differences of opinion between the managing persons and the auditor regarding the application of accounting principles or audit standards.
In the coming days, the Supervisory Board of the Company will select a new entity authorized to audit financial statements. At the same time, the Issuer’s Management Board informs that the indicated date of publication of the Issuer’s annual report for 2017 determined on 30 May 2018 remains unthreatened.
Legal basis: Article 3, Paragraph 1, Point 12) of the Exhibit 3 “Current and Periodical Information in the Alternative Trading System on the NewConnect market” to the Alternative Trading System Rules
Sale of shares of a subsidiary Aforti Finance S.A. CR 34/2018
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
O5 Series Bonds Allocation CR 33/2018
The Management Board of Aforti Holding S.A. based in Warsaw (“the Company”, “the Issuer”), hereby informs that on 06th April 2018 The Management Board passed a resolution of O5 series bonds allocation („the Bonds”). Subscription of the Bonds was conducted in accordance to a resolution of The Management Board on 30th March 2018 of O5 series bonds issue.
In accordance to the resolution of O5 series bonds allocation, The Board allocated 2 507 (two thousand five hundred seven) O5 series bonds of 1.000,00 (one thousand) PLN both nominal and emissional value each and 2.507.000 (two millions five hundred and seven thousand) PLN in total.
O5 series bonds are three-years unsecured bonds. Bondholders will be paid a monthly coupon at a constant percentage amount of 8,00% per annum. The O5 series bonds purchase date is 06th April 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
Development strategy for Aforti Holding Capital Group for 2018 – 2020 CR 32/2018
The Management Board of Aforti Holding SA based in Warsaw („the Company”, „the Issuer”) hereby announces, that on 4th April 2018 it passed resolution no. 01/04/04/2018 of the Management Board regarding mergers of the document „Development strategy for Aforti Holding Capital Group for 2018-2020” („Strategy”).
The updated Strategy was based on three mainstays:
1. Group development in Poland;
2. development of the Group through international expansion;
3. development of the Group through the disclosure of its subsidiaries.
Detailed assumptions of the Aforti Holding S.A. development Strategy are presented in the attachment to this report.
Legal basis:
Article 17 paragraph 1 of the MAR – confidential information
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. – March 2018 CR 31/2018
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 March
2018
1) The estimated operational and sales results of Aforti Finance S.A. for March 2018:
In March 2018 Aforti Finance S.A. granted 56 loans (increase by 69,70% YoY) with a total value of PLN 5 018,89 thousand, which is an increase of 209,52% compared to the same month of 2017.
The value of submitted applications amounted to PLN 32 052,64 thousand and that is a result higher by 177,83% compared to the same period of the previous year. In March 2018, there were filed 320 loan applications, an increase of 67,54% compared to the same month of 2017.
Cumulatively, after the first three months of 2018, Aforti Finance SA granted 163 loans (75,27% more YoY) with total value PLN 14 992,01 thousand and it is an increase by 232,69% compared to 2017. In the first quarter of this year, there were filed 890 loan applications with total value PLN 92 581,11 thousand. The quantity of the loans rose up by 93,48% and their total value by 308,38% in relation to the same period in the previous year.
2) The estimated operational and sales results of Aforti Exchange S.A. for March 2018:
The currency exchange platform’s turnover in March 2018 reached 22 410,49 thousand EUR and was higher by 314,66% compared to the same period of the previous year. At the same time, after two months of the current year, the turnover reached the level of 46 053,42 thousand EUR, an increase of 194,45% year-onyear.
3) The estimated operational and sales results of Aforti Exchange Romania S.A. for March 2018:
The value of trading on the currency exchange platform in Romania in March 2018 amounted to 3 926,39 thousand EUR. In the first quarter of this year, Aforti Exchange Romania S.A. recorded 7 200,87 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 estimated operational and sales results of Aforti Collections S.A. for March 2018:
Nominal value of debt collection commissions on March 2018 reached PLN 5 121,80 thousand. This is an increase of 14,04% YoY. The number of recovery orders amounted to 70 and was lower by 98,74% compared to March 2017.
The Company did not signe recovery agreement.
Cumulatively, at the end of March 2018, the nominal value of the debt collection orders amounted to PLN 7 727,83 thousand, which is a decline of 31,27% year-on-year. The number of orders also decreased by 92,66% from 12 768 to 937. At the same time, the number of debt recovery agreements concluded in the first quarter of this year, decreased by 71,43% to 8.
5) The estimated operational and sales results of Aforti Factor S.A. for March 2018:
In March 2018 the value of receivables financed by Aforti Factor S.A. amounted to PLN 1 397,18 thousand. Further, at the end of March 2018 this value reached level of PLN 2 933,03 thousand.
The date comparative are not available because the Company had started its operating activities from the third quarter of the previous year.
A table containing estimated additional data, reported for March 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