Board of YOLO S.A. ("Company") informs that today the Company has received information on mutual signing of a contract with a specialized entity from the receivables management sector ("Buyer") dated as at 30/04/2018. The subject of the agreement is the sale of a portfolio of irregular loan receivables due to the Company with a total PLN 3,114,758.08 (three million, one hundred and fourteen thousand, seven hundred and fifty-eight and PLN 08/100). The portfolio sale price was PLN 1 059 018.00 (one million fifty-nine thousand eighteen and PLN 00/100) and will be paid by the Buyer within 14 days from the date of signing this contract. Other terms of the contract do not differ from market standards commonly used for this type of transaction.
Due to the significant value of the contract in relation to the current scale of the Company's operations and its significant impact on the Company's financial result, the Management Board of the Company considered the conclusion of the contract as confidential information within the meaning of art. 17 sec. MAR 1
This contract has been concluded as part of a previously signed framework agreement providing for the cyclical sale of receivables. However, the framework contract is not an obligation to conclude a specific contract in the future.
Source: company website, investor relations, current and periodic reports.