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New investors in eobuwie.pl. CCC has signed contracts with Cyfrowy Polsat, A&R Investments and MKK3

The CCC Group has signed agreements regulating changes in the shareholding structure of eobuwie.pl, the e-commerce leader in footwear in Central and Eastern Europe. The company will acquire two new minority investors - Cyfrowy Polsat S.A. and A&R Investments Limited, who will purchase blocks of 10% of shares. At the same time, the Group concluded an agreement with MKK3, the investment vehicle of the company's founder, which provides for the sale of a 20% stake in eobuwie.pl to CCC in the next two quarters, leaving a 5% stake in MKK3 and a long-term continuation of the existing cooperation in the development of the platform, with the prospect of its stock exchange debut.

The transaction includes the sale of 10% of the company's shares to each of the investors for PLN 500m (a total of PLN 1bn). Up to PLN 450 million from the capital obtained in this way will be allocated by the Group to the repayment and refinancing of liabilities. The remaining amount will be financed, based on the concluded agreement, by 20% of eobuwie.pl shares currently owned by MKK3, and will also provide additional financial security required in connection with the COVID-19 pandemic. The CCC Group remains the majority shareholder of the company.

- Eobuwie.pl is a project created by an ambitious team that constantly poses new challenges and far-reaching plans, and consistently strives to implement them. This is confirmed, for example, by the sales results of the Eobuwie Group, which in March recorded a three-digit growth dynamics. The involvement of such experienced investors in the company will support it in achieving its main goal, which is rapid further development and strengthening the position of the European e-commerce leader. We will also expand the composition of the company's management board and thus provide a balanced combination of the experience of the current and new management staff to achieve the above-mentioned goal efficiently - says Dariusz Miłek, Chairman of the Supervisory Board of eobuwie.pl and Chairman of the Supervisory Board of CCC SA.

The transaction includes the sale of 10% of the company's shares to each of the investors for PLN 500m (a total of PLN 1bn). Up to PLN 450 million from the capital obtained in this way will be allocated by the Group to the repayment and refinancing of liabilities. The remaining amount will be financed, based on the concluded agreement, by 20% of eobuwie.pl shares currently owned by MKK3, and will also provide additional financial security required in connection with the COVID-19 pandemic. The CCC Group remains the majority shareholder of the company.

- Eobuwie.pl is a project created by an ambitious team that constantly poses new challenges and far-reaching plans, and consistently strives to implement them. This is confirmed, for example, by the sales results of the Eobuwie Group, which in March recorded a three-digit growth dynamics. The involvement of such experienced investors in the company will support it in achieving its main goal, which is rapid further development and strengthening the position of the European e-commerce leader. We will also expand the composition of the company's management board and thus provide a balanced combination of the experience of the current and new management staff to achieve the above-mentioned goal efficiently - says Dariusz Miłek, Chairman of the Supervisory Board of eobuwie.pl and Chairman of the Supervisory Board of CCC SA.


- E-commerce, whether someone likes it or not, is the future of trade and it is not only affected by the current closure of traditional trade related to the pandemic, but it is a profound civilization change. The impressive sales growth dynamics of eobuwie.pl in recent months is a great example of the opportunity taken by this market change - said Rafał Brzoska on behalf of A&R Investments Limited.

The entry into force of the agreement depends on the fulfillment of formal conditions relating to the relevant bank consents, the first of which has already been granted. The Group plans to meet the above-mentioned requirements by the end of April this year.


The signing of contracts with investors was also accompanied by the conclusion of a new contract with a shareholder MKK3. It provides for the replacement of the previously applicable provisions regarding the possibility of the purchase by the CCC Group of a 25% stake in 2022 with a faster buyout of 20% of them, i.e. by 30 September 2021. MKK3 will remain the owner of 5% of eobuwie.pl shares.


 - The appearance of two new shareholders will allow to strengthen the shareholding structure of eobuwie.pl,and at the same time support CCC in the period of recovery from the pandemic. The current development plan of the company and eachwe want to implement the projects in full, but also strengthen the structures, so as to fully prepare them for introduction to the stock exchange in the perspective of 1-2 years - says Marcin Czyczerski, President of the Management Board of the CCC Group.


I am glad that this ambitious plan, thanks to the contract we have just concluded, will be implemented together with Marcin Grzymkowski, the founder of the eobuwie.pl company - adds Karol Półtorak, Vice President of the Management Board of the CCC Group.


Joining new investors to the eobuwie.pl team is the first step on the way to strengthening the corporate organization. Another will be the expansion of the composition of the Management Board, which will be joined in six months by:

• Mikołaj Wezdecki, currently e-commerce director at eobuwie.pl

• Szymon Dąbrowski, currently Purchasing and Sales Director at eobuwie.pl


The Supervisory Board plans to further strengthen the composition of the management bodies of eobuwie.pl.


- During several years of dynamic growth, we have built the position of a fashion e-commerce leader in the region of Central and Eastern Europe. We are a recognizable shoe sales brandand accessories, and in line with our strategy, we are strengthening the strength of the Modivo platform, which offers access to a collection of premium clothing. Our passion is to combine fashion and technology with the latest logistics solutions and wide media presence. We hope that by joining forces with new shareholders, we will develop our business at an even faster pace, both in Poland and in other European countries - comments Marcin Grzymkowski, founder and CEO of eobuwie.pl.


***
CCC S.A. is one of the largest footwear retail companies in Central Europe and one of the largest footwear manufacturers in the Old Continent. Through its subsidiary eobuwie.pl, the CCC Group is also a leader in the e-commerce footwear market in Central and Eastern Europe. The company is present in 30 countries - in 22, sales are carried out in over 1,000 stationary stores with a total area of 685,000. m2, and in 17 via the online channel. The CCC Group has a total of 70 online platforms throughout Europe (eobuwie.pl, ccc.eu, MODIVO, DeeZee, Gino Rossi), sells over 52 million pairs of shoes per year and employs nearly 16,000 employees. CCC S.A. is listed on the Warsaw Stock Exchange and is included in the index of the largest Polish listed companies - WIG20.

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