Sale of shares in NG2 Suisse GmbH (owner of Karl Voegele AG)
(Current report no. 33/2021)
03.06.2021 /The Issuer/
Legal basis:
Article 17(1) MAR - inside information
With reference to the current report No. 21/2020 of 21 April 2020 and the current report No. 61/2020 of 21 September 2020, the Management Board of CCC S.A. with its registered seat in Polkowice ("Issuer", "CCC") informed that it concluded on 3rd June 2021 with cm.shoes GmbH and GA Europe Coöperatief U.A. agreements on the sale of 100% of the shares of NG2 Suisse GmbH ("NG2") and assets owned by NG2.
As a result of the agreements, cm.shoes GmbH became the indirect owner of all of the shares of Karl Voegele AG with its registered seat in Uznach, Switzerland ("Karl Voegele"), which were indirectly owned by the Issuer.
The Issuer expects that from the sale of the NG2 shares, the clearance of commercial settlements between NG2 and the CCC Group and other settlements will receive total cash proceeds of around 14-15m CHF (final amount will depend on i.a. the settlement of actual balances, costs of closing the shops, selected court disputes).
Together with the sale of the NG2 shares, the parties entered into an agreement that enables continuations of providing selected services and delivery of goods over the period of up to 2 years to Karl Voegele by CCC with capped amount of trade receivable balance towards CCC in the amount of EUR 8.5 million.
The agreements contain earn-out clauses for CCC in case of a future sale of Karl Voegele's shares by the new investors to another entity.
The conclusion of the above-mentioned agreements implements the review of strategic options for Karl Voegele. The executed transaction is an element of the announced by CCC Group restructuring of its presence in Western Europe and its strategic focus on activities in Central and Eastern Europe and the development of e-commerce segment.
Signatures:
1/ Mariusz Gnych – The Vice-President of the Management Board
2/ Hanna Kamińska – The Proxy