RB W ASO: Appeal of Aforti Holding S.A. in restructuring against the decision to establish compulsory administration

The Management Board of AFORTI Holding S.A. in restructuring with its registered office in Warsaw hereinafter referred to as the “Company” hereby informs that on October 18, 2024, the Company filed a complaint through the National Register of Debtors against the decision of the District Court for the Capital City of Warsaw in Warsaw of October 14, 2024 issued regarding the establishment of compulsory administration in the Company. The appeal in question was filed together with a motion for resumption.

The content of the complaint is attached to this report.

Klaudiusz Sytek
President of the Management Board

REPORT

RB ESPI 24/2024 Announcement on the arrangement date of the subsidiary Aforti Factor Polska S.A.

On October 15, 2024, the Management Board of AFORTI Holding S.A. in restructuring with its registered office in Warsaw (hereinafter referred to as the “Company”) received information from the Management Board of Aforti Factor Polska S.A. with its registered office in Warsaw (hereinafter referred to as the “subsidiary”) that Mr. Paweł Lewandowski – the arrangement supervisor in the restructuring proceedings (arrangement approval proceedings) of the subsidiary, pursuant to Article 226a section 1 of the Restructuring Law, made an announcement in the National Register of Debtors about setting the arrangement date at October 15, 2024.

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

Klaudiusz Sytek
President of the Management Board

REPORT

RB ESPI 23/2024 Disclosure of delayed confidential information

The Management Board of AFORTI Holding S.A. w restrukturyzacji (in restructuring) with its registered office in Warsaw (hereinafter referred to as the “Company” or “Issuer”), acting under Article 17 paragraph 1 in conjunction with Article 17 paragraph 4 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (“MAR Regulation”), hereby makes public the content of the delayed inside information, the provision of which was delayed on 25 September 2024.

Content of confidential information whose publication has been delayed:

The Management Board of AFORTI Holding S.A. in restructuring with its registered office in Warsaw (hereinafter referred to as the “Company”) hereby informs that on September 25, 2024, it became aware of the conclusion by the subsidiary Aforti Factor Polska S.A. (hereinafter referred to as the “subsidiary”) with Mr. Paweł Lewandowski, who holds a restructuring advisor license no. 735 and the title of qualified restructuring advisor, of an agreement dated September 25, 2024 to supervise the course of the proceedings for approval of the subsidiary’s arrangement pursuant to the Act of May 15, 2015 – Restructuring Law. The agreement was concluded for the purpose of conducting restructuring proceedings in the subsidiary in the form of proceedings for approval of the arrangement. Reasons for delaying the publication of confidential information: In the Management Board’s opinion, the delay in providing the above information met the conditions specified in the MAR Regulation at the time the decision on the delay was made.

The Management Board indicates that the conclusion of an agreement on supervision over the course of the proceedings for approval of the arrangement of the subsidiary pursuant to the Act of 15 May 2015 – Restructuring Law was not tantamount to opening the restructuring proceedings. Financial and legal analyses were ongoing and the possibility remained real that the subsidiary would resign from conducting the restructuring. Therefore, premature disclosure of delayed confidential information at the stage of its classification would be misleading and would be detrimental to the Company. The Issuer and the subsidiary decided to announce the arrangement date due to the initiated restructuring process of the Issuer and due to the introduction of a two-pillar strategy in the group, consisting in focusing the activity on two operating lines. In the remaining scope, the Issuer’s restructuring plan assumes reducing to a minimum the operating activity of the corporate finance division and limiting it to the collection of own receivables. As part of this strategy, it is necessary to restructure the subsidiary. Disclosure of this confidential information is due to the impossibility of further ensuring its confidentiality due to the announcement of the arrangement date of the subsidiary.

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

Klaudiusz Sytek
President of the Management Board

REPORT

RB ESPI 22/2024 Decision on securing

The Management Board of AFORTI Holding S.A. in restructuring with its registered office in Warsaw (hereinafter referred to as the “Company”) hereby notifies that on October 14, 2024, it became aware of the decision of the District Court for the Capital City of Warsaw in Warsaw, 18th Commercial Division, of October 14, 2024 regarding a change in the method of securing the Company’s assets, in such a way that instead of appointing a temporary court supervisor, a compulsory administration was established over all assets. The function of the administrator was entrusted to Mr. Marcin Kubiczek (license number 244). The Company is analyzing the impact of the security on the Company’s situation.

The Company is conducting legal analyses related to the possibility of repealing the decision. On September 14, 2024, the Company filed an application for approval of the arrangement in the initiated restructuring proceedings. A significant part of the creditors voted in favor of the arrangement, in the amount of 83% in quantitative terms. The Company is conducting intensive work to implement the arrangement assumptions. In accordance with the content of art. 12 sec. 2 first sentence of the Restructuring Law, the bankruptcy court suspends the consideration of the bankruptcy application until a final judgment is issued on the restructuring application. In the Company’s opinion, the court’s decision is premature and unjustified, because it is against the public interest – the majority of the Company’s creditors voted in favor of the arrangement.

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

Klaudiusz Sytek
President of the Management Board

REPORT

RB ESPI 21/2024 Announcement on the arrangement date of the subsidiary Aforti Factor Group S.A.

On October 11, 2024, the Management Board of AFORTI Holding S.A. in restructuring with its registered office in Warsaw (hereinafter referred to as the “Company”) received information from the Management Board of Aforti Factor Group S.A. with its registered office in Warsaw (hereinafter referred to as the “subsidiary”) that Mr. Paweł Lewandowski – the arrangement supervisor in the restructuring proceedings (arrangement approval proceedings) of the subsidiary, pursuant to Article 226a section 1 of the Restructuring Law, made an announcement in the National Register of Debtors about setting the arrangement date at October 11, 2024.

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

Klaudiusz Sytek
President of the Management Board

REPORT