Disposal of Elit SA shares
10.12.2018
Share
Date |
2018-12-10 |
Current report no. |
49/2018 |
| The Management Board of TIM SA with its registered office in Wrocław announces that as a part of the review of strategic options, which the company reported in current statement No. 5/2018 of 22.03.2018, the Management Board of TIM SA on 10.12.2018 decided to sell the shares of Elit SA with its registered office in Warsaw held by TIM SA. As a result of this decision, on 10 December 2018 TIM SA and Elettronica Italiana SP. z o.o. with its registered office in Warsaw entered into an agreement pursuant to which TIM SA sold its stake of shares of Elite SA with its registered office in Warsaw to Elettronica Italiana SP. z o.o. ,i.e. 1.020.000_one million twenty thousand_ _ordinary bearer shares of Elites SA with a nominal value of PLN1 _in words: one_ each, which represent a share in the share capital of Elit SA of 51% _fifty one percent_ and entitle to 1.020.000 _ one million twenty thousand_ votes at the General Meeting of Elite SA, which represents a share of 51% _in words: fifty-one percent_ in the total number of votes at the Ordinary General Meeting of Elit SA, for the price of PLN1 _in words: one_ gross per share, which gives a total amount of PLN1.020.000 _in words: PLN one million twenty thousand gross. As a result of the above transaction, Elettronica Italiana Sp. z o. o. holds 100% shares of Elit SA.The sale price will be paid as follows: PLN 270,000 was paid today, the remaining amount of the sales price in the amount of PLN 750,000 will be paid in 15_in words: fifteen equal monthly instalments, PLN 50,000_fifty thousand PLN _each paid by the 20th day of each month from January 20, 2019 to March 20, 2020. As for the obligation to pay the sale price within the time limits, Elettronica Italiana SP. z o.o. submitted itself to enforcement pursuant to art. 777(1)(4) of the Civil Proceedings Code. As a security for the payment of the sales price, Elettronica Italiana SP. z o.o. has issued a blank promissory note which is guaranteed by shareholders of the company and a contractual mortgage was registered up to the amount of PLN800 000. At the same time, on 10.12.2018 TIM SA and Elit SA entered into a three-year framework commercial agreement under which the parties have agreed on the terms and conditions of the purchase by TIM SA of goods offered by Elit SA. |
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
| 2018-12-10, Anna Słobodzian-Puła – Member of the Management Board 2018-12-10, Piotr Tokarczuk – Member of the Management Board |