The Management Board of Aforti Holding S.A. with its registered office in Warsaw hereinafter: „Company”, „Issuer” informs that today, i.e. 22 April 2020 The Company signed a letter of intent with the Company listed on the main market of the London Stock Exchange („LSE Company”), on the basis of which the Companies decided to make all efforts to take up by Aforti Holding S.A. shares of LSE Company in exchange for shares of Aforti Exchange S.A. By acquiring the relevant shares, Aforti Holding S.A. would become the majority shareholder in the UK Company and at the same time indirectly become the majority shareholder in Aforti Exchange S.A. The transaction called reverse takeover („RTO”) is aimed at implementing the strategy announced in current report 11/2018 dated April 4, 2018 consisting in listing Aforti Exchange on one of the foreign stock exchanges. The parties assume that after signing the letter of intent they will immediately start work related to convening a General Meeting of Shareholders of the LSE Company to issue shares addressed to the Issuer and to work related to the legal and transactional aspects of the undertaking. It is also the Issuer’s intention to conduct the process of raising capital through the LSE Company during the RTO process.
Detailed rules and manner of execution of particular joint actions referred to above will be determined in separate agreements concluded. This letter of intent does not give rise to any financial obligations for any of the Parties.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information