The Management Board of Cyfrowy Polsat S.A. (the Company, Purchaser) hereby announces that on March 12, 2012, the agreements concerning the sale of shares (the Agreement) has been concluded between the Company and Bithell Holdings Ltd. (the Seller). Under the Agreement the Company will acquire shares in the following entities, which run ipla, the leader in online video distribution in Poland.
1. 100% shares in Redefine Sp. z o.o. seated in Warsaw (Redefine)
2. 100% shares in Gery.pl Redefine Sp. z o.o. seated in Warsaw (in liquidation)
3. 100% shares in Frazpc.pl Sp. z o.o. seated in Warsaw
4. 100% shares in Netshare Sp. z o.o. seated in Warsaw
The Seller is controlled by Mr Zygmunt Solorz-Żak.
The parties have agreed that the total price for shares in the companies abovementioned, that the Company will pay to the Seller, amounts to PLN 150 million. The parties have agreed, that the transfer of the legal rights to the acquired shares and the payment for the shares will be effectuated on April 2, 2012.
The purchased entities run ipla, the leader of online video market in Poland in terms of: availability on different devices - PCs, laptops, tablets, smatrphones, connected TVs, game consoles, home cinemas and set-top-boxes; content library, thanks to programming deals with Telewizja Polsat, TVP and film studios (i.e. Warner Bros, Best Film, Kino Świat, Epelpol Entertainment); number of users and time spent by user on watching video online.
The acquisition of ipla completes the Company's strategy which an important element was the acquisition of Telewizja Polsat, in order to provide the best quality content using most advanced devices and technologies. Ipla, the leader in this market segment, significantly strengths Cyfrowy Polsat market position as a content aggregator and distributor and provides a significant competitive advantage in the critical market segment.
Legal basis: Article 56, section 1, item 1 of the Act dated July 29, 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies.
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