Amendment of the agreement obliging to acquire shares of EOBUWIE.PL Spółka Akcyjna
(Current Report No. 44/2017)
21.08.2017 / The Issuer /
Legal basis:
Art. 17 section 1 of MAR - confidential information
The Management Board of CCC S.A. (The "Issuer") hereby announces that on 21st August 2017 they signed an annex to the agreement obliging the sale of shares of eobuwie.pl S.A. (The "Company") as of 26 August 2015 concluded between the Issuer and CCC Shoes & Bags Sp. z o.o., based in Polkowice (collectively referred to as "the Buyer") and the shareholders of the Company eobuwie.pl S.A. (The "Seller") and with the participation of the Company, of which the Issuer informed in current report No. 51/2015 as of 26 August 2015.
According to the content of the annex, the Buyer, the Seller and the Company, having regard to their current very good cooperation as well as mutual business prospects, decided on:
• extending by 3 years, i.e. until 28th February 2023 the Call Option and Put Option provided in the agreement, i.e. the Buyer's right to purchase directly or indirectly from the Sellers and the Seller's right to sell to the Buyers or any other entity from the Capital Group of the Buyers in respect of 2,501,000 registered shares (two million five hundred one thousand) with a nominal value of 0.20 PLN (twenty groszy) each share, constituting 25.01% (twenty five percent 01/100) of the nominal value of the Company's share capital (The "Shares"). The price for the Shares was determined as 25.01% of the amount being the product of EBITDA 2021 (as defined by the annex) x 12, whereby unless there occurs any of the cases specified in the annex then this amount cannot be lower than PLN 100 million (one hundred million zlotys) and in under no circumstances it cannot be higher than 1 billion 200 million zlotys (one billion two hundred million zlotys). In the cases indicated in the agreement or the annex the price for the Shares can be determined on the basis of EBITDA for a different period;
• allocating 20% of the Company's net profit for the fiscal years 2019-2021 to a dividend for the Company's shareholders.