WORK SERVICE SA (40/2020) Concluding by the Issuer of Annex no. 1 to

Analizy i Rynek / Informacje z rynku / Komunikaty

WORK SERVICE SA (40/2020) Concluding by the Issuer of Annex no. 1 to the Investment Agreement and extension of the deadline for payment of bridge financing.

30.06. Warszawa (PAP/ESPI) - Raport bieżący 40/2020

The Management Board of Work Service S.A. ("Issuer" or "Company") - in relation to the current reports: (i) No. 12/2020 and 12/2020 K, on the conclusion with the company under the name Gi International S.R.L., with its registered office in Milan, Italian Republic, owned by Gi Group SpA ("Investor"), investment agreement of 13 February 2020 ("Investment Agreement"), determining, among others, the terms and conditions for granting financing by the Investor to the Company for the purpose of restructuring the Company's existing debt due to banks and financing current activities of the Company's capital group, and (ii) no. 30/2020 on the approval of the Issuer's financing banks ("Banks") for the extension of the deadline for the payment of bridge financing until 30 June 2020, which the Company notified in current report no. 28/2020 ("Bridge Financing") - announces, that today the Company and the Investor concluded the Annex no. 1 to the Investment Agreement, pursuant to which the final date for the fulfilment of all Conditions Precedent specified in the Investment Agreement (indicated by the Company in current report No. 12/2020 and 12/2020 K) and the final date for closing the transaction with the Investor was extended to 31 July 2020 ("Annex").

Simultaneously, today the Banks agreed to conclude the Annex and to pay out the Bridge Financing after 30 June 2020, but not later than 31 July 2020.

As a result of the analysis carried out, the Issuer assumed that qualification of the above-mentioned information as confidential within understanding of Art. 17 sec. 1 MAR, subject to publication in the form of this report, is justified.

Legal basis:

Article 17 section 1 MAR _Regulation of the European Parliament and of the Council _EU_ No 596/2014 of 16 April 2014 on market abuse _Regulation on market abuse and repealing the 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.


Iwona Szmitkowska - President of the Management Board

Jarosław Dymitruk - Vice-president of the Management Board

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