Current Report No. 106/2016: Agreement for acquisition of shares in Credit Base International S.r.l.

The Management Board of KRUK S.A. (the “Company” or “Buyer”) announces that on November 7th 2016 the Company concluded an agreement with the shareholders of Credit Base International S.r.l. of La Spezia, Italy (“CBI”) for acquisition of 100% of the shares in CBI (the “Shares”), (the “Agreement”). Acceptance of the offer to acquire the Shares was announced in the Company’s Current Report No. 101/2016 of October 28th 2016.

The subject matter of the Agreement is the acquisition of 100% of the shares in CBI, free and clear of any encumbrances, restrictions or third-party rights. CBI’s business involves the management of purchased debt portfolios and credit management services in Italy. CBI’s 2015 consolidated revenue amounted to EUR 2.2m (PLN 9.5m at the PLN/EUR mid-rate quoted by the NBP for November 7th 2016).

Under the Agreement, the Company will also acquire 100% of the share capital of Elleffe Capital S.r.l. of La Spezia, Italy (“EC”) (CBI’s subsidiary), whose business activity includes investment in debt or debt-backed assets. 

The Agreement is subject to a condition precedent that the Shares covered by the Agreement will be transferred to the Buyer upon payment of the Price. The Price has been paid today.