Fabrity Holding S.A

M&A Activity • Apr 22, 2020

Notification of the signing of a letter of intent to reverse theacquisition of a company listed on the London Stock Exchange.

The Management Board of Aforti Holding S.A. with its registered officein Warsaw hereinafter: "Company", "Issuer" informs that today, i.e. 22April 2020 The Company signed a letter of intent with the Company listedon the main market of the London Stock Exchange ("LSE Company"), on thebasis of which the Companies decided to make all efforts to take up byAforti Holding S.A. shares of LSE Company in exchange for shares ofAforti Exchange S.A. By acquiring the relevant shares, Aforti HoldingS.A. would become the majority shareholder in the UK Company and at thesame time indirectly become the majority shareholder in Aforti ExchangeS.A. The transaction called reverse takeover ("RTO") is aimed atimplementing the strategy announced in current report 11/2018 datedApril 4, 2018 consisting in listing Aforti Exchange on one of theforeign stock exchanges. The parties assume that after signing theletter of intent they will immediately start work related to convening aGeneral Meeting of Shareholders of the LSE Company to issue sharesaddressed to the Issuer and to work related to the legal andtransactional aspects of the undertaking. It is also the Issuer'sintention to conduct the process of raising capital through the LSECompany during the RTO process.

Detailed rules and manner of execution of particular joint actionsreferred to above will be determined in separate agreements concluded.This letter of intent does not give rise to any financial obligationsfor any of the Parties.

Legal basis: Article 17 paragraph 1 of the MAR - confidential information