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WORK SERVICE S.A.: The beginning of negotiations aimed at restructuring the Issuer's financial indebtedness towards GI International S.R.L. (2021-04-19 22:05)
KOMISJA NADZORU FINANSOWEGO

Raport bieżący nr20/2021
Data sporządzenia: 2021-04-19
Skrócona nazwa emitenta
WORK SERVICE S.A.
Temat
The beginning of negotiations aimed at restructuring the Issuer's financial indebtedness towards GI International S.R.L.
Podstawa prawna
Art. 17 ust. 1 MAR - informacje poufne.
Treść raportu:
The Management Board of Work Service S.A. ("Issuer" or “Company”) with reference to the current report No. 110/2020, informs that today the Issuer signed a letter of intent s with Gi International S.R.L. based in Milan, Italian Republic, which is a guarantor for the repayment of the Issuer's debts under the Restructuring Agreement on the basis of agreements with Banks, about which the Issuer informed in the current report No. 42/2020 ("GI"), initiating the formal discussions between the Issuer and GI relating to the restructuring the Issuer's financial indebtedness towards GI due to the granted financing ("Receivables", "Restructuring of Receivables").

The Issuer and GI agreed to consider and examine all available solutions, which may be applied to the Restructuring of Receivables, in particular amending the Financing Agreement concluded between the Issuer and the GI, about which the Issuer informed in the current report No. 54/2020, , aimed at rescheduling the repayment date of the Receivables or converting the Receivables into shares of the new Company issue ("Conversion"). The effect of the potential Conversion assumed by the Issuer is, in particular, a positive impact on the amount of equity capitals on a separate basis.

The Issuer also informs that the Restructuring of Receivables will not affect the situation of the Banks resulting from the agreements concluded with the Issuer, including the Restructuring Agreement, about which the Issuer informed in the current report No. 42/2020 and 74/2020, as well as on the existing partial arrangement with the Banks adopted in the proceedings for approval of the arrangement, about which the Issuer informed in the current report No. 11/2021.

The Issuer will inform about the effects of the talks and arrangements in separate current reports.

As a result of the analysis, the Issuer decided that it is justified to classify the information referred to above as confidential information within the meaning of Art. 17.1 of the MAR, to be published in the form of this report.


Legal basis:

Art. 17.1 of MAR (Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC).

Signatures:

Iwona Szmitkowska - President of the Management Board

Nicola Dell'Edera - Vice-President of the Management Board

MESSAGE (ENGLISH VERSION)

WORK SERVICE SPÓŁKA AKCYJNA
(pełna nazwa emitenta)
WORK SERVICE S.A.Usługi inne (uin)
(skrócona nazwa emitenta)(sektor wg. klasyfikacji GPW w W-wie)
53-413Wrocław
(kod pocztowy)(miejscowość)
Gwiaździsta66
(ulica)(numer)
+48 71 37 10 900+48 71 37 10 938
(telefon)(fax)
www.workservice.pl
(e-mail)(www)
897-16-55-469932629535
(NIP)(REGON)
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2021-04-19Iwona Szmitkowska President of the Management Board
2021-04-19Nicola Dell'Edera Vice-President of the Management Board

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