The Management Board of GROCLIN Spółka Akcyjna with its registered office in Grodzisk Wielkopolski (the "Company / Issuer") informs that on September 18, 2017, a subsidiary of the Issuer, ie CADM AUTOMOTIVE Spółka z o.o. ("CADM") concluded an Investment Agreement, the purpose of which is to acquire a 100% stake in CTRLCAD spółka z ograniczoną odpowiedzialnością with its registered office in Katowice for PLN 2 million, registered in the Register of Entrepreneurs kept by the District Court Katowice-Wschód in Katowice, under KRS 0000585419 ("ctrlCAD"). br> ctrlCAD specializes in the design of components, modules and systems for the automotive industry in the field of interior finishing, sound systems, car bodies and bumpers. br> The transaction is scheduled to close at the beginning of October 2017. The transaction will increase the portfolio of the Group's clients GROCLIN Capital in the engineering segment. The crtlCAD designers cooperated with such concerns as: Alpine, Audi, AMG, BMW, Daimler, Dacia, Peugeot, Porsche, Renault and Volkswagen. Br> Acquisition of shares in ctrlCAD will mean that the Capital Group will expand by another design office in Poland , which will bring new competences in the field of designing bumpers for passenger cars. br> ctrlCAD will generate PLN 2m in revenues in 2017, and EBITDA at the end of 2017 should close with approximately PLN 500,000. At the end of the transaction, the team of designers will join the Group in two locations - in Katowice and Wrocław. br> The acquisition of ctrlCAD is part of the strategy pursued by the Issuer's Management Board, which assumes increasing the activity on the engineering and design activity generated by CADM that generates high margins. br> The acquisition of rights to shares in ctrlCAD depends on the fulfillment of the conditions precedent that should be implemented in early October 2017. The agreed conditions precedent significantly increase transaction security, and at the same time, CADM has the right to waive individual or all suspensive conditions. Br>
Source: company website, investor relations, current and periodic reports.