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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 2Q2022

REGULATORY FILINGS, AGORA, HOME PAGE, NAJNOWSZA AKTUALNOść (TOOLBAR)

FINANCIAL RESULTS OF THE AGORA GROUP IN THE 2Q2022

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5,58 zł

Zmiana[PLN]

-0,53%

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Company data

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

AGO -0,53%
mWIG40 -0,72%
WIG-MEDIA -0,11%

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

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November 22, 2022 / 12:52

41/2022 Conclusion of consultation process on reduction of employment at Helios S.A.

Regulatory filing

The Management Board of Agora S.A. with its registered seat in Warsaw, in relation to regulatory filing no. 38/2022 dated November 14, 2022, hereby informs about being informed by the Management Board of the company Helios S.A. ("Company") – subsidiary of Agora S.A. of:

(i) concluding by the Company the consultation process with employees’ representatives, under provisions of the Act of March 13, 2003 on Special Rules for Termination of Employment for Reasons Not Attributable to Employees,

(ii) adopting by the Management Board of the Company on resolution to execute collective redundancies in the Company, in accordance with the provisions of the regulations as agreed during the consultation process.

Collective redundancies shall be executed from November 22 until December 23, 2022, and shall affect up to 53 employees. Additionally, The Company decided not to prolong given agreements or fill vacancies, which shall decrease headcount of the Company by further 16 employees.

In accordance with the regulations, the laid-off employees will be provided by the Company with a wider range of supportive measures than required by law. The redundancy payment estimated according to law regulations shall be increased by an additional compensation in the amount up to PLN 30,800, depending on the seniority at The Company. The laid-off employees shall be supported by additional protective measures provided by the Company, i.a. basic medical care. The Company, in accordance with requirements of law, shall submit an appropriate set of information, together with the signed consultation minutes, to a relevant Labor Office.

The estimated amount of provision for collective redundancies which will be charged to the Company and Agora Group's result in 4Q2022, shall amount to approximately PLN 1.9 million. The Company estimates that the restructuring measures my result in the annual savings may amount to approximately PLN 5.45 million.

Agora S.A. shall provide its estimates of costs and savings related to the process of collective redundancies in the Management Discussion and Analysis in the annual report for 2022.

Legal basis: article 17, paragraph 1 of the Regulation of the European Parliament and Council Regulation (EC) No. 596/2014 of April 16th, 2014 on market abuse (Regulation on Market Abuse) and repealing Directive 2003/6/EC of the European Parliament and of the Council and the Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (Acts. Office. EC L 173, 06.12.2014).

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