WORK SERVICE SA (74/2017) Undertaking by the Work Service Management SA resolutions on the issue of bonds

Work Service SA Management Board ("Issuer", "Company") in reference to Resolution No. 3/2016 of the Extraordinary General Meeting of the Company of May 18, 2016 regarding the launch of the bond issue program ("EGM Resolution"), which the Issuer announced in the current report 25/2016 of 18 May 2016 - informs that on 13 September 2017, the Management Board of the Company adopted Resolution No. 2 regarding the issue of bonds (the "Issue Resolution"). The Issue Resolution was adopted in the implementation of the EGM Resolution, as part of the bond issue program established by the Company up to the total nominal value of not more than PLN 150,000,000.00 (the Bond Issue Program). Under the Issue Resolution, the Company's Management Board, decided to issue, in the mode of art. 33 point 2 of the Act of 15 January 2015 on Bonds by directing the proposal to purchase a bond to a designated addressee in a number not exceeding 149 recipients, secured ordinary bearer bonds, up to 60,000 (sixty thousand) under one or two issues with a unit nominal value of PLN 1,000 (the "Bonds"). The Bonds will be offered at an issue price equal to the nominal price. The purpose of the issue of the Bonds will be to finance the purchase of shares by the Work Service Group in the subsidiary Prohuman 2004 Kft. And the financing of the Group's core business The Management Board of the Company did not specify the threshold The issue of interest will be payable. Interest will be payable from the date of issue of the Bonds every six months on the last day of each interest period. The reference rate for determining the interest rate is the six-month WIBOR base rate (WIBOR 6M), determined for each interest period increased by 5% of percentage points. The bonds will be issued no later than October 31, 2017. Bond redemption day will take place within 15 months from the date of issue (no later than November 30, 2018). The Company will be entitled to an earlier redemption of the Bonds (call option). This entry may be excluded or modified upon the issuance of particular series of bonds by the Management Board. Bondholders will be entitled to an earlier redemption of the Bonds (put option). This subscription may be excluded or modified upon the issuance of particular series of bonds by the Management Board. Allotment of the Bonds to the investor will take place provided thatthe investor declares that they accept the proposal to purchase the Bonds and that the investor pays the issue price for the Bonds on time and in the manner indicated in the proposal for the purchase of Bonds. The Bonds will be issued as bearer bonds without a document and will be registered on the date of issue. within the meaning of art. 8 sec. 1 of the Act on Bonds maintained by mBank S.A .. The bonds may be introduced into the Catalyst alternative trading system organized by BondSpot S.A. or the Warsaw Stock Exchange SA. The bonds are secured with a blank promissory note issued by the Company, registered pledges on 9,000,000 shares of Work Service SA. held by the Company's shareholders. In respect of the claim resulting from the promissory note, the Company made a declaration on submission to enforcement pursuant to art. 777 § 1 point 5 of the Code of Civil Procedure up to a maximum amount of 120 per cent of the nominal value of the Bond Issue Program. The above securities have been established to secure the entire Bond Issue Program. As a result of the analysis, the Issuer considered that it was justified to qualify the above information as confidential information within the meaning of art. 17 sec. 1 MAR, subject to publication in the form of this report. Legal basis: Art. 17 sec. 1 MAR (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 Council and Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC). Signatures: Maciej Witucki - President of the Board Krzysztof Rewers - Vice President of the Board

Source: company website, investor relations, current and periodic reports.

Company information
Company name:Work Service SA
Adress: ul. Ruska 51 50-079 Wrocław
Phone:+48 71 3710900

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