ESPI Report 19/2020: Increase in the share capital of the subsidiary of Sescom

The Management Board of Sescom S.A. (“the Company”, “the Issuer”) was informed today that on 26 June 2020 the shareholders meeting of Sescom Ltd. headquartered in London adopted a resolution on increasing in the share capital of this company. Pursuant to the resolution, the share capital of Sescom Ltd. was increased from £100 (in words: one hundred pounds) to £100.000 (in words: one hundred thousand pounds), by £99.900 (in words: ninety-nine thousand nine hundred pounds).

The increase in share capital was a result of the share issuance of 99.900 shares with a nominal value of £1 each share.

The issued shares were fully acquired by Sescom S.A. at a nominal price due to £99.900 debt-for-equity swap. The debt of Sescom Ltd. consisted of: loan granted by Sescom S.A. for development objectives and current liabilities related to the internal services of Sescom Group, including software licenses.

Before the increase in the share capital, The Issuer owned 100 shares entitling to 100% votes at shareholders meeting and 100% share in the capital of Sescom Ltd.

After the increase in the share capital, the Issuer owned 100.000 shares entitling to 100% votes at shareholders meeting and 100% share in the capital of Sescom Ltd.

Legal Basis: Article 17(1) MAR – confidential information

Signatures of the Company’s representatives:

Sławomir Halbryt – President of the Management Board