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February 28, 2019 / 14:50

4/2019 The commencement of negotiations by Helios S.A. on the development of the Pasibus brand

Regulatory filing

The Management Board of Agora S.A. with its registered seat in Warsaw ("Agora", "the Company") hereby informs that on February 28, 2019 Helios S.A., a subsidiary of Agora (“Helios”), commenced negotiations with some of the partners ("Partners") of the company Food for Nation, Sp. z o.o. sp. k. ("FFN"), which is the owner of a restaurant chain under the brand Pasibus, on the joint growth of the Pasibus brand.

In connection with the above, on February 28, 2019, Helios and Partners signed a letter of intent ("Term Sheet") on the basic terms of the cooperation under consideration within the SPV, which is a subsidiary of Helios S.A. (Step Inside Sp. z o. o. with its registered seat in Lodz ("Step Inside")). Establishing the cooperation is dependent upon agreement on detailed principles of cooperation and obtaining the consent of the President of the Office of Competition and Consumer Protection ("the President of UOKiK").

At the same time, on February 28, 2019, Step Inside and FFN signed a cooperation agreement, based on which Step Inside is entitled to i.a. operate up to 10 eateries under the Pasibus brand. For this purpose, Helios funded Step Inside company with PLN 10 million. With the approval of the President of UOKiK and concluded investment agreement the Partners will acquire shares in Step Inside company, which will open total of 40 premises under the Pasibus brand. Simultaneously, the Company informs that the Term Sheet does not constitute binding obligations of the parties. Agora will inform about the next steps related to the course of the process in separate filings.

The value of investment in the Company is not significant from the Agora Group’s perspective. The investment in joint development of the Pasibus brand will be the extension of Helios’ projects, a subsidiary of Agora, undertaken in the restaurant segment.

Legal basis: Article 17, paragraph 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) 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.

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4/2019 The commencement of negotiations by Helios S.A. on the development of the Pasibus brand

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