Announcement.

URSUS SA (92/2018) Disclosure of delayed confidential information

The Management Board of URSUS S.A. publicizes the content of confidential information, the transfer of which has been delayed in accordance with the provisions of art. 17 sec. 4 MAR Regulation. & Lt; br / & gt; I. & lt; br / & gt; & quot; URSUS Board of Directors S.A. informs that on October 10, 2018, the Issuer filed with the Lublin-Wschód District Court in Lublin with its registered office in Świdnik, 9th Commercial Department for bankruptcy and restructuring proceedings, a request for opening restructuring proceedings based on the provisions of the Act of May 15, 2015 (Journal of Laws from 2015, item 978, as amended) (hereinafter the Restructuring Law). The Issuer in the application applied for restructuring in the accelerated arrangement proceedings - art. 2 point 2 of the Restructuring Law. & Lt; br / & gt; The Management Board's decision was dictated by concern for continuing the Company's operations as well as respect for the liabilities of the Company and its creditors. Accelerated arrangement proceedings, conclusion of the arrangement and execution of it is a way that ensures the highest possible level of performance of obligations. & Lt; br / & gt; Submitting an application to open a restructuring proceeding is aimed at avoiding the bankruptcy of the Issuer by allowing it to restructure while securing the rights of all the Issuer's creditors. The Issuer's Management Board intends to undertake legal and factual actions aimed at improving the economic situation of the Company and aimed at restoring the Company's ability to perform obligations while at the same time using protection against execution. & Lt; br / & gt; This confidential information is a process step within the meaning of art. 17 sec. 4 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014. on market abuse (Regulation on market abuse_ and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC) hereinafter referred to as & quot; Regulation & quot; ;. The above step consists of the following events: & lt; br / & gt; 1. Making a decision to proceed with the preparation of an application for opening a restructuring proceeding; & Lt; br / & gt; 2. Applying to the court for the opening of restructuring proceedings; & Lt; br / & gt; 3. Opening of the proceedings by the competent court. & Lt; br / & gt; Based on Article. 17 sec. 4 of the Regulation, the Company and the publication of this report will inform the Supervisory CommissionFinancial statement regarding the delay of disclosure of the abovementioned confidential information, at the same time providing justification for the existence of reasons to delay disclosure of confidential information referred to in Article 17 sec. 4 points a - c of the Regulation. & Lt; br / & gt; The main reason for delaying the publication of confidential information regarding the protection of legitimate interests of the Company was seriously and directly threatened financial condition of the Company, when the provisions regarding bankruptcy or restructuring are not applicable and prompt disclosure of confidential information would jeopardize the interests of shareholders, creditors and the Company. The arrangements in this respect were made on the basis of the provisions of the Restructuring Law regarding the beginning of the debtor's protection. & Lt; br / & gt; Disclosure of information about submitting a request to open a restructuring proceeding of the Company under the Restructuring Act prior to the Court's decision to open an accelerated arrangement proceedings would result in legal action of some creditors aimed at reducing the Company's working assets, which would consequently prevent the Company's operational activities, restructuring and would mean significant damage to the Company's shareholders and other creditors. Delayed publication of confidential information, pending the Court's decision to open the accelerated arrangement proceedings, aims to protect the Company, its shareholders and contractors, and results from the provisions of the Restructuring Act. Pursuant to the Act, as of the date of opening the restructuring proceedings by the Court, the Company will be subject to legal protection against creditors, based on the provisions of the Act, which in the opinion of the Management Board will not only facilitate but facilitate restructuring proceedings. " & Lt; br / & gt; II. & Lt; br / & gt; & quot; URSUS Board of Directors S.A. informs that on October 17, 2018, the Issuer learned of the necessity to supplement the formal defects submitted on 10 October 2018 of the request to open a restructuring proceeding. The company will fulfill the obligation within the deadline set by the Court. & Lt; br / & gt; This confidential information is a process step within the meaning of art. 17 sec. 4 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014. on market abuse (Regulation on fraud onof the market_ ​​and repealing Directive 2003/6 / EC of the European Parliament and of the Council and the Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC) hereinafter referred to as & quot; Regulation & quot; The following stage consists of the following events: & lt; br / & gt; 1. Making a decision to proceed with the preparation of an application for opening a restructuring proceeding; & Lt; br / & gt; 2. Applying to the court for the opening of restructuring proceedings; & Lt; br / & gt; 3. Opening of the proceedings by the competent court. & Lt; br / & gt; Based on Article. 17 sec. 4 of the Regulation, the Company along with the publication of this report will inform the Polish Financial Supervision Authority about the delay in disclosing the above-mentioned confidential information, at the same time providing justification for the existence of reasons to delay disclosure of confidential information referred to in Article 17 sec. 4 points a - c of the Regulation. & Lt; br / & gt; The main reason for delaying the publication of confidential information regarding the protection of legitimate interests of the Company was seriously and directly threatened financial condition of the Company, when the provisions regarding bankruptcy or restructuring are not applicable and prompt disclosure of confidential information would jeopardize the interests of shareholders, creditors and the Company. The arrangements in this respect were made on the basis of the provisions of the Restructuring Law regarding the beginning of the debtor's protection. & Lt; br / & gt; Disclosure of information on a request to supplement formal defects of an application to open the arrangement proceedings of the Company under the Restructuring Law before issuing a decision to open a restructuring proceeding would cause legal action of some creditors aimed at reducing the Company's working assets, which would consequently prevent the Company's operational activities, carry out restructuring proceedings and would mean significant damage to the Company's shareholders and other creditors. Delayed publication of confidential information, pending the Court's decision to open the accelerated arrangement proceedings, aims to protect the Company, its shareholders and contractors, and results from the provisions of the Restructuring Act. Pursuant to the Act, as of the date of opening the restructuring proceedings by the Court, the Company will be subject to legal protection from creditors based on the provisions of the Act, which, in the opinion of the Management Board, will not only facilitate but facilitatecarrying out restructuring proceedings. & quot; & Lt; br / & gt;

Automatic translation of the announcements.

Rate the announcements:


Positive

Neutral

Negative

ALL COMPANY ANNOUNCMENTS
Company information
Company name:Ursus SA
ISIN:PLPMWRM00012
NIP:739-23-88-088
Adress: ul. Frezerów 7 20-209 Lublin
Phone:+48 22 2660266
website:www.ursus.com.pl

Copyright © 2017 PolandStockExchange
This website uses cookies (Regulations / Cookie Policy).