Transfer of intellectual property rights between subsidiaries

04 Oct 2013
The Management Board of Cyfrowy Polsat S.A. (the 'Company') hereby informs that on October 4, 2013, Telewizja Polsat Sp. z o.o. ('TV Polsat'), seated in Warsaw, and Polsat License Ltd. ('Polsat License'), seated in Zug, Switzerland (subsidiaries of the Company) entered into an agreement (the 'Agreement') under which TV Polsat contributed to Polsat Brands - Swiss simple partnership (einfache Gesellschaft; under articles 530 seqq. of the Swiss Code of Obligations), established by TV Polsat and Polsat License - certain trademarks valued at PLN 880 million (the 'IP-Rights'), while Polsat License agreed to contribute a cash equivalent of 1/99 of the IP-Rights' value. 

The IP-Rights contribution to Polsat Brands is intended to reorganize the TV Polsat group structure by segregating its core business of TV production and broadcasting from non-core business of intellectual property management.

The Agreement was considered significant as its value exceeds 10% of the consolidated revenues for the last four financial quarters.

Legal grounds: Article 56 Section 1 item 2 of the Offering Act in connection with § 5 sec. 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 regarding current and periodic information to be submitted by issuers of securities, and the conditions for recognizing equivalence of information required under non-member states regulations.

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Last updated 10/05/2014