Concluding by the Issuer an agreement to sell 90 per cent of shares in Olavion sp. z o.o.

Report: 7/2023
Date of publication:08.03.2023 / 13:59
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With reference to Current Report No. 47/2022 of 14 November 2022, Current Report No. 49/2022 of 9 December 2022 and Current Report No. 1/2023 of 9 January 2023, The Management Board of UNIMOT S.A. with its registered office in Zawadzkie (the “Issuer”) announces that on 7 March 2023, the Issuer concluded an agreement by virtue of which the Issuer acquired 90% of shares in Olavion sp. z o.o. (the “Agreement”, “Olavion”) from two individuals, including the majority shareholder (the “Seller”).

Following the fulfilment of all conditions precedent, the Sellers transferred 90 per cent of the shares in Olavion to the Issuer for the agreed base sale price, which was adjusted for net debt and working capital differences at the date of sale.

The Issuer reminds that the acquisition of the remaining 10 per cent of the shares will take place from the management of Olavion under the terms and conditions set out in earlier current reports, no later than 7 July 2025.

The Issuer’s total financial involvement in the currently acquired package of shares in Olavion including, inter alia, adjustments for estimated net debt and working capital differences, amounted to PLN 24.2 million.

The above value may be subject to change as a result of the commitment to pay the Sellers an additional price under the “earn out” mechanism in accordance with the principles described in current report No. 47/2022 of 14 November 2022.

The Issuer has deemed this information confidential due to the potential impact of the transaction on the economic, asset and financial position of the Issuer and its Group.