Conclusion of a conditional agreement regarding the acquisition of 10% of the share capital of S.A.

31 Mar 2021

In connection with current report no. 4/2021 dated 11 March 2021 the Management Board of Cyfrowy Polsat S.A. (the “Company”, “Cyfrowy Polsat”) hereby informs that following the negotiations conducted with CCC Shoes & Bags sp. z o.o. (the “Seller”), a subsidiary of CCC S.A., concerning the potential acquisition of a 10% block of shares of the company S.A., in which the Seller holds directly 74.99% of the share capital (“”) and the completion of the due diligence of, on 31 March 2021 the Management Board of the Company decided to acquire 10% of the share capital of within the scope of a pre-IPO investment for a consideration of PLN 500 million (the “Investment”). Moreover, on 31 March 2021 the Supervisory Board of the Company gave its consent for the Investment.

In connection with the above on 31 March 2021 the Company signed with the Seller a preliminary agreement for the sale of shares of (the “Share Sale Agreement”) and with the Seller and another investor a shareholders’ agreement regulating, among others, the future corporate governance principles of 

The Share Sale Agreement is a conditional agreement. In particular, the Seller is obligated to obtain relevant consents of banks financing the operating activities of entities from the Seller’s capital group as well as the consent of the general shareholders meeting of for the sale of shares in (the “Conditions Precedent”).

The Company anticipates that the settlement of the Investment will take place following the fulfillment of the Conditions Precedent by 30 April 2021, with the possibility to extend this deadline by the Seller in a manner determined in the Share Sale Agreement.

Legal basis

Article 17 Section 1 of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (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.

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Last updated 03/31/2021