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CCC RAISES PLN 0.5BN IN NEW CAPITAL

CCC S.A. (the “Company”), a leader of the footwear sector in Central and Eastern Europe, has placed all 13.7 million of its new shares. The issue price was set at PLN 37 per share, which means that the Company has raised PLN 506.9m from the issue. The proceeds will be used to reinforce the Company’s working capital, including purchase of products for the autumn/winter 2020 season. Subscription agreements for Series I shares and Series J shares are expected to be concluded by, respectively, May 6th and May 14th.

We are pursuing our goals as planned. The successful share issue is a sign that investors, as well as myself, are optimistic about CCC’s future. I am positive that the skills and knowledge that made us a market leader, such as understanding of the product, analysis of customer needs, and quick adaptation to changes, will now allow us to strengthen our position when the crisis is over. The issue proceeds are a critical component of this plan,’ said Dariusz Miłek, Chair of the CCC S.A. Supervisory Board.

We managed to stabilise the company’s financial condition and buttress its foundations. We have received funds from the government's aid programmes. We are working to secure financing guaranteed by BGK. As an organisation, we took swift measures to get through the coronavirus crisis unscathed. The successful share issue is another milestone and proves that the market has acknowledged the efforts we have made in the last few weeks in response to the pandemic. March 13th was a symbolic date of the beginning of the most challenging period in the Company’s history and April 29th marks the end of that period. We are coming back stronger and looking forward to meeting our customers,” said Marcin Czyczerski, President of the CCC S.A. Management Board.

“The last few weeks were an exceptionally busy time, but we are back in the game, on a great shape. We are fully prepared to take advantage of all the opportunities created by the crisis and changes in the market,” said Karol Półtorak, Vice President of the CCC S.A. Management Board.

 

 

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