Current Report No. 14/2019 — 11.12.2019 16:36Signing a letter of intent concerning the sale of shares in a subsidiary
The Management Board of Atende S.A. (′the Company′, ′the Issuer′) hereby informs that on 11 December 2019 a letter of intent (′Letter of Intent′) was signed between the Issuer and STGE sp. z o.o. (′STGE′), concerning the sale by the Issuer of 60% of shares in Sputnik Software sp. z o.o. (′Sputnik Software′). The STGE company currently holds 40% of shares in Sputnik Software and is controlled by two members of the Management Board of Sputnik Software. The parties to the Letter of Intent have determined the value of the sales transaction of 60% of shares in Sputnik Software at PLN 16.2 million. The transaction should take place no later than on 31 March 2020.
The objective of the potential transaction is to generate profit from the Issuer's investment in Sputnik Software. The book value of the shares which are the subject of the planned sales amounts to PLN 6.5 million. In case of the transaction, the Company will record a profit of 9.7 million.
The Letter of Intent is non-binding and expresses the initial intention of the Issuer and STGE. The Letter of Intent does not constitute an offer, a preliminary agreement or an agreement that obliges to conclude a transaction.