Partial execution of the commitment agreement for the sale of MODIVO S.A. shares with MKK3 Sp. z o.o. and the planned buyout of shares in DeeZee Sp. z o.o.  

(Current report no. 30/2024)

19.08.2024 /Issuer/

Legal basis:
Article 17 sec. 1 MAR - confidential information 

I. With reference to current reports No. 15/2021 dated March 31, 2021 and No. 40/2022 dated December 21, 2022, the Management Board of CCC S.A. (hereinafter: the "Issuer") informs that the parties to the option agreement, i.e. CCC Shoes & Bags Sp. z o.o. (a subsidiary of the Issuer) and MKK3 sp. z o.o. (hereinafter: "MKK3") have agreed, at CCC's initiative, on the next capital steps for a 5% stake in Modivo S.A. (hereinafter: "Modivo") owned by MKK3 and covered by the option.

1. CCC Shoes & Bags Sp. z o.o. will repurchase 250,500 Modivo shares, i.e. approximately 2.5% of Modivo's shares, from MKK3 for approximately PLN 100 million. As part of the implementation of this arrangement, MKK3 made the relevant statements today, and according to the option agreement, the acquisition of these shares by CCC Shoes & Bags Sp. z o.o. will take place by November 19, 2024.

2. The option for the remaining 2.5% of Modivo shares expires under the option agreement on June 30, 2026. 

The transaction is part of CCC Group's goals to consolidate Modivo's shareholding. 

II. The Management Board of CCC S.A. also announces that it plans to repurchase shares in DeeZee Sp. z o.o. in the second half of this year (CCC currently holds 75% of the shares). 

The acquisition of Modivo shares and shares in DeeZee Sp. z o.o. will be financed with CCC S.A.'s own funds. After the acquisition, the shares and stocks will be pledged to CCC's financing institutions.