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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q2020

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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 1Q2020

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Company data

AGORA S.A.
Czerska 8/10 Street
00-732 Warszawa

AGO 0,97%
mWIG40 0,58%
WIG-MEDIA 0,49%

Regon: 11559486
Numer KRS: 59944
NIP: 526-030-56-44

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April 30, 2020 / 15:26

20/2020 Commencement of negotiations regarding the sale of the company Domiporta Sp. z o.o. and a write-off of the company’s shares

Regulatory filing

Management Board of Agora S.A. with its registered office in Warsaw ("Company", "Agora") announces that on April, 302020 its subsidiary Domiporta Sp. z o.o. with its registered office in Warsaw ("Domiporta") started negotiations on the sale of the enterprise to Mieszkanie.pl, whose partners are Piotr Przybysz and Sławomir Gąsiorowski – members of the management board of Domiporta. The subject of negotiations is the sale of an organized set of tangible and intangible assets intended for conducting business activity under the name of Domiporta sp. z o.o. within the meaning of art. 551 of the Civil Code, such as trademarks, rights to internet domains, software, databases, rights from contracts with customers, suppliers and other contractors, employees, bank accounts.

At the same time, the Management Board of Agora informs that due to the negative impact of the COVID-19 pandemic on Domiporta's financial results and the achievable selling price of Domiporta, it has been decided to revaluate its shares in Domiporta. The sale price of shares is immaterial, both from the perspective of Agora S.A. and the Agora Group. As a result, Agora will write down the value of shares in Domiporta in the amount of PLN 59.5 million (fifty nine million five hundred thousand zlotys), and Agora Group will write-off the value of assets related to Domiporta's activity in the amount of PLN 12.7 million (twelve million seven hundred thousand zlotys). The recognized write-offs will be charged to Agora S.A.'s unit result, respectively and consolidated results of the Agora Group in the first quarter of 2020.

Agora S.A. acquired 100% shares in Domiporta Sp. z o.o. (formerly Trader.com (Polska) Sp. z o.o.) in 2008, and announced about signing of the relevant contract in a current report on May 14, 2008.

Legal basis: art. 17 clause 1 of Regulation (EC) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Regulation on market abuse) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directive 2003 / 124 / EC, 2003/125 / EC and 2004/72 / EC (Official Journal EC L 173 of 12/06/2014).


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