Capital/Financing Update • Nov 15, 2019
Capital/Financing Update
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Information concerning the sale of debts in theAforti Group
The board of Aforti Holding S.A. ("the Company", "theIssuer") headquartered in Warsaw hereby announces to the public, that hegot the information that on November 15, 2019, the Issuer'ssubsidiaries: Aforti Finance S.A. based in Warsaw (hereinafter: "AfortiFinance") and Aforti Factor S.A. with its registered office in Warsaw(hereinafter: "Aforti Factor") concluded with Aforti Collections S.A.with its registered office in Warsaw (hereinafter: "Aforti Collections")the assignment agreements of overdue receivables from loans granted andfinanced invoices of small and medium enterprises.
The above debt portfolios were acquired by AfortiCollections for a total price of PLN 5,100,000.00 (in words: fivemillion one hundred thousand PLN). The agreements do not containsuspensive conditions, nor do they provide for contractual penalties,and their other provisions do not depart from market standards used forsuch contracts.
Conclusion of the above debt sale agreements aredictated by the growing scale of operations of Aforti Factor and AfortiFinance, as well as the market practice followed by domestic and foreignentities with a similar profile of activity. The Aforti Collectionscompany, which belongs to the Capital Group, is a debt collectioncompany specializing in receivables management, including the purchaseand servicing of debt portfolios, which will allow achieving the optimalfinancial result on managed portfolios being the subject of sale.
The above transactions will have an impact on theconsolidated financial results of the Aforti Group, which will bepresented in the periodic report for the fourth quarter of 2019. Uponobtaining reliable information in the above scope, the Issuer'sManagement Board will publish an appropriate current report.
Legal basis: Article 17 para. 1 MAR - confidentialinformation
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