The Management Board of DAMF INVESTMENTS S.A. with its registered office in Warsaw hereby informs that on 19.07.2018. he decided to update the Company's development strategy.
The Management Board of the Company informs that the actions taken so far by the Company in the scope of the main development direction of the Company, i.e. activities aimed at building a capital group of entities operating in the tourism industry, do not bring the results expected by the Company. The Management Board explains that the company's development assumptions based on acquisitions of entities operating on the market, on which the Issuer possesses the necessary know-how, due to the prevailing economic situation in the opinion of the Management Board are associated with too high economic risk.
Bearing in mind the above, the Management Board of DAMF INVESTMENTS S.A. in Warsaw on July 19, 2018 he decided to change the main direction of the Company's development. As the Management Board has already signaled in the report on the Company's operations for 2017 (EBI report 3/2018), the current market situation has increased the Company's involvement in the area of financial services, in particular for the provision of non-consumer cash loans.
The company intends to focus its activities on developing financial activities involving the provision of cash loans to selected entities. At the same time, the Company does not exclude that in the case when there are changes in economic conditions or if the Management Board considers certain projects in the industry in which the Issuer has previously considered attractive and not subject to excessive economic risk, also conduct further activities in this area.
The Management expects the change in the Company's development strategy to enable the Company to increase its growth dynamics.
Source: company website, investor relations, current and periodic reports.