ESPI Report 28/2018: Cancellation of security connected with the legal action filed by the Company to establish that the obligation to pay the amount requested by CUBE.ITG S.A. for the purchase of the organized part of the enterprise is non-existent

In connection with the current reports no. 1/2018 and 2/2018 please be advised that the Management Board of Sescom S.A. (“the Company”, “the Issuer”) was informed today that the Regional Court in Wrocław, 10th Commercial Division, on the 30th of August 2018 issued an order (“the Order”), in which the Court ruled to cancel the security that had been granted to the Issuer. The Court granted the security in the order issued on the 23rd of January 2018, which was made public by the Company in the current report no. 1/2018. The security was connected with the Issuer’s action (“the Legal Action”) to establish that the obligation to pay the amount of PLN 1.265.426,40 (“the Amount”) to CUBE.ITG S.A., a company with its registered seat in Wrocław (“CUBE.ITG”), is non-existent. The Amount is the fourth installment of the purchase price of the organized part of CUBE.ITG; the purchase was carried out by the Issuer under an initial sales agreement concluded on the 22nd of February 2016 and under the final sales agreement concluded on the 27th April 2016. The security was granted in connection with a dispute between the parties relative to whether the payment of the Amount by the Issuer is justified.

The Issuer published the information relative to the establishment and settlement of the final purchase price of the organized part of the enterprise in the following current reports: 4/2017, 5/2017, 12/2017. The Company challenges the correctness of the Order. The Order is not appealable. The Company upholds the position that the Legal Action is justified and it will continue efforts to have it judicially enforced.

Legal basis: Article 17(1) MAR – Confidential Information

Signatures of the Company’s representatives:

Sławomir Halbryt – President of the Management Board