Current Report No.: [35/2016]
Date of preparation: 07.11.2016
Time: 19:55
Abbreviated name of the Issuer: CIECH S.A.
Subject: Completion of participation of the Issuer in the process of the sale of 100% of shares of SAPEC - Agro, S.A. and Trade Corporation International, S.A.
Legal basis: Art. 17. 1 of the MAR – confidential information
Contents of the report:
The Management Board of CIECH S.A. with its registered office in Warsaw (the “Issuer” or the “Company”), in reference to current report no. 33/2016 dated 02.11.2016, hereby announces that today it has become aware of the selection and conclusion of the sales agreement for 100% shares in SAPEC - Agro, S.A., a company incorporated under the law of Portugal with its registered office in Setúbal, Portugal, and 100% shares in Trade Corporation International, S.A., a company incorporated under the law of Spain with its registered office in Madrid, Spain (hereinafter jointly referred to as the: “Companies”) by the seller - SAPEC - Portugal, SGPS, S.A. a company incorporated under the law of Portugal with its registered office in Lisbon, Portugal (the “Seller”), with Bridgepoint investment fund.
The Issuer became aware of the information from the announcement published today on the website of the parent company of the Seller - SAPEC S.A. with its registered office in Brussels, Belgium (www.sapec.be/images/2016/2016-11-7%20COMMUNIQUE%20DE%20PRESSE%20DU%20GROUPE%20SAPEC_EN.pdf).
The conclusion of the agreement for the sale of shares of the Companies entails completion of participation of the Issuer in the process of acquisition of the Companies.
The Management Board of the Issuer emphasises that the submission of the offer was preceded by a series of business, operational and financial analysis, and in the opinion of the Management Board, the offer itself was optimal, considering the potential benefits from the purchase of the Companies for the Issuer.
At the same time, the Management Board informs that its plans for intensive development of the AGRO business will be maintained. The Issuer will continue to strive to strengthen this area of operations, including both organic growth and potential acquisitions.
Legal basis: article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) 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 (Official Journal of the European Union L No. 173, p. 1) (the “MAR”).
Signatures of persons representing the Company:
Maciej Tybura – President of the Management Board
Artur Król – Member of the Management Board
