The Management Board of Agora SA with its registered office in Warsaw ("Agora"), with reference to current report no. 11/2018 dated 7 March 2018, informs that today, ie on June 14, 2018, Agora concluded with Bank Zachodni WBK S.A. - BZ WBK Brokerage House, acting on behalf and for the account of Kino Polska TV S.A. ("Kino Polska") agreement for the sale of all shares held by Agora in Stopklatka S.A. with headquarters in Warsaw ("Stopklatka") ("Transaction").
As a result of the Transaction, today Agora will sell all shares held in Stopklatka (ie 4,596.203 ordinary shares, constituting 41.14% of the share capital of Stopklatki). The price for one share is PLN 7.0, and the transaction value is about PLN 32 million.
As a consequence of the Transaction, Stopklatka's investment contract between Agora and Kino Polska, which Agora reported in the current report 06/2013 of 22 February 2013, will expire.
Agora informed about the investment in Stopklatka in current reports 06 / 2013, 22/2013 and 03/2014. Conducting a Transaction means that Agora ends Agora's investment in Stopklatka and discontinues Agora's activity in the field of digital terrestrial television.
The Management Board of Agora estimates that this transaction will have a positive impact on the net result of the Agora Group in the second quarter of 2018. Initial impact on the quarterly net result of Agora and Agora SA it may amount to approximately PLN 22.6 million and PLN 17.4 million, respectively.
Legal basis: art. 17 sec. 1 of 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 directive 2003 / 124 / EC, 2003/125 / EC and 2004/72 / EC.
Source: company website, investor relations, current and periodic reports.