GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Regulatory Filings • Oct 4, 2021

Current Report No. 19/2021Date: 4 October 2021Topic:Disclosure of delayed inside information concerning the commencement ofthe development of TeO, a multi-module auction platform supportingcomprehensive processing of media industry transactionsLegalbasis: Article 17(4) MAR - notification of delayed disclosure of insideinformation.Content:Acting pursuant to Article 17(1) and(4) of Regulation (EU) No 596/2014 of the European Parliament and of theCouncil on market abuse and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC ("MAR"), in connection with thecessation of the criteria of delaying inside information, the ManagementBoard of the Warsaw Stock Exchange ("GPW" or "Company") hereby publishesthe following inside information concerning:• Signing ofmemoranda of understanding with PIKE and PIKSEL and with KIKE concerningthe opening of negotiations on the development of a TV industryadvertising auction system operator ("Inside Information of 24 September2020");• Decision of the Exchange Management Board to signa memorandum of understanding with KRRiT concerning interest in aproject of development of an Addressable TV/DAI auction platform("Inside Information of 26 July 2021");• Approval ofthe Exchange Supervisory Board for a strategic initiative of developmentof an Addressable TV/DAI auction platform and an implementation budget("Inside Information of 7 September 2021").Contentof inside information delayed on 24 September 2020 under Article 17(4)MAR:"The Management Board of the Warsaw Stock Exchange ("GPW","Company" or "Issuer") announces that on 24 September 2020 it signedmemoranda of understanding with Polska Izba Komunikacji Elektronicznej("PIKE") and Polska Fundacja Wspierania Rozwoju KomunikacjiElektronicznej ("PIKSEL") and with Krajowa Izba Komunikacji Ethernetowej("KIKE") concerning the opening of negotiations on potential developmentof a TV industry advertising auction system operator.The parties tothe memoranda of understanding have declared their interest inparticipation in a joint project of development of an Adressable TVauction platform ("Platform").Addressable TV providesreal-time diverse advertising communications depending on defined viewerprofiles. With Addressable TV, advertising campaigns only reach thoseviewers who meet the targeting criteria. As a result, different viewerswatch customised advertising broadcast by the same televisionbroadcaster at the same time. Addressable TV allows to implementProgrammatic TV, i.e., automated television content purchasing.GPWhas declared to provide the technology necessary for the development forthe Platform as well as a transparent clearing system.PIKE andPIKSEL as well as KIKE have declared among others to take stepsnecessary to ensure the participation of their members in the project.Theparties to the memoranda of understanding have decided that thePlatform's business model will be based on transaction fees. PIKE andPIKSEL as well as KIKE have declared that a single-digit percentagemargin (approx. 5%) of the Platform operator (i.e., GPW) is acceptable.The financial details of the project including the detailed businessmodel of the Platform will be defined in the course of efforts andanalyses to be carried out by the parties to the memoranda ofunderstanding.GPW points out that the signing of the memoranda ofunderstanding does not necessarily mean that further steps will be takenin relation to the co-operation with those entities.The potentialco-operation and the implementation of the project are subject tofurther analyses and necessary corporate consents."Contentof inside information delayed on 26 July 2021 under Article 17(4) MAR:"TheManagement Board of the Warsaw Stock Exchange ("GPW", "Company" or"Issuer") announces that on 26 July 2021 it decided to sign a memorandumof understanding with Krajowa Rada Radiofonii i Telewizji ("KRRiT")dated 27 July 2021. The parties to the memorandum of understandingexpressed their interest in participation in the project of developmentof an Adressable TV auction platform ("Platform").GPWhas declared to provide the technology necessary for the development forthe Platform as well as a transparent clearing system.The parties tothe memorandum of understanding have expressed their interest inco-operation including the development of an auction system supportingtrade in accordance with terms and conditions defined in co-operationwith KRRiT and the media industry, in particular including advertisingtime pricing rules and algorithms as well as advertising buy and selltransaction clearing and auditing.The parties to the memorandum ofunderstanding have decided that the Platform's business model will bebased on transaction fees.GPW points out that the signing of thememorandum of understanding does not necessarily mean that further stepswill be taken in relation to the co-operation with KRRiT.Thepotential co-operation and the implementation of the project are subjectto further analyses and necessary corporate consents."Contentof inside information delayed on 7 September 2021 under Article 17(4)MAR:"The Management Board of the Warsaw Stock Exchange ("GPW","Company" or "Issuer") announces that on 7 September 2021 the ExchangeSupervisory Board approved the strategic initiative of development of anAddressable TV/DAI auction platform ("Platform") and its 2021-2023implementation budget of PLN 33,345,386.73 (in words: thirty-threemillion three hundred forty-five thousand three hundred eighty-sixzlotys 73/100) including PLN 13,338,154.67 (in words: thirteen millionthree hundred thirty-eight thousand one hundred fifty-four zlotys67/100) as a grant from Narodowe Centrum Badań i Rozwoju ("NCBR").Thepotential implementation of the project is subject among others tofurther analyses.GPW will announce next steps in the process in adedicated current report."The publication of the InsideInformation of 24 September 2020, the Inside Information of 26 July 2021and the Inside Information of 7 September 2021 was delayed due tocriteria referred to in Article 17(4) MAR.Legal basis: Article17(4) of Regulation (EU) No 596/2014 of the European Parliament and ofthe Council on market abuse (market abuse regulation) and repealingDirective 2003/6/EC of the European Parliament and of the Council andCommission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (EUOfficial Journal L No. 173).