The Management Board of Aforti Holding S.A. with its registered office in Warsaw (hereinafter: „Company”, „Issuer”), in reference to the current report of ESPI No. 32/2018 dated 18/09/2018 regarding the signing by the Issuer’s subsidiary company: Aforti Finance S.A. with its registered office in Warsaw (hereinafter: „Aforti Finance”, „Subsidiary”) of the special-purpose agreement, hereby publishes that on March 12, 2019 it received information that the Subsidiary received a letter of intent and a term sheet, concerning the acquisition of external financing by Aforti Finance.
In accordance with the offer submitted to the Subsidiary by a foreign institutional investor, the level of the proposed amount of maximum commitment to finance the Aforti Finance loan campaign was set at EUR 25 million.
An investor who submitted the term sheet – the document containing the proposed preliminary terms of the transaction, is a British investment fund (hereinafter: „the Fund”) based in London, operating on the European financial market since 2004. The Fund managed an asset portfolio valued at USD 4.3 billion on 31/12/2018.
Both parties are goinng to immediately negotiate to establish detailed conditions for obtaining financing. A part of the negotation process will be also a due diligence search, which the Fund will conduct toward Aforti Finance.
According to the knowledge of the Issuer’s Management Board, the negotiation process may take up to several weeks. The Company will inform about any significant changes in this with an appropriate current announcement.
In the opinion of the Issuer’s Management Board, the acquisition of a foreign investor will allow to strengthen the position of the AFORTI brand on the Central and Eastern European markets where selected companies from the Issuer’s Capital Group are present.
In addition, the acquired funds will be used for the further development of the loan action run by the Subsidiary. This will allow for the dynamic growth of Aforti Finance, which in the opinion of the Management Board of the Subsidiary should influence on a gradual increase in its market share and thus affect the financial results posted by it.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information