The completion of the review of strategic options for subsidiaries and co-subsidiaries of TIM S.A.

Date

2019-05-16

Current report no.

20/2019

As a result of the review of strategic options, the Company completed the following operations:

• 29 June 2018 the General Meeting of Shareholders of Sun Electro Sp. z o.o. passed a resolution on dissolving Sun Electro Sp. z o.o. upon carrying out the liquidation proceedings. Currently, the liquidation procedure of Sun Electro Sp. z o.o. is carried out.
• In period 18-26 September 2018 TIM S.A. purchased 2,502,111 shares of ROTOPINO.PL S.A. with its seat in Bydgoszcz, at weighted average price of PLN 2.60 per share increasing their involvment in the share capital of ROTOPINO.PL S.A. from 74.1% to 99.13%. On 15 November 2018 the Board of TIM S.A. decided to initiate operations to request other Shareholders of ROTOPINO.PL S.A. to sell all possessed shares. On 18 December 2018 the settlement of the Forced Buyout took place; as a result TIM S.A. possesses in total 10,000,000 shares of ROTOPINO.PL S.A. which corresponds to 100% of the share capital of ROTOPINO.PL S.A. Currently, on the motion of TIM S.A., waiving of share dematerialisation of ROTOPINO.PL S.A. and delisting the above-mentioned company’s shares from the alternative trading system NewConnect are being carried out.
• On 10 December 2018 TIM S.A. sold 1,020,000 shares of Elit S.A. at the price of PLN 1.00 per share decreasing their involvement from 51% to 0%.