RB 9/2024
The Management Board of PragmaGO S.A., based in Katowice, Poland (the “Company” or the “Issuer”), informs that on February 5, 2024, the Company (as the Buyer) concluded with Monevia International société responsabilité limitée, a limited liability company under Luxembourg law, based in Luxembourg (as the Seller) a sales agreement (the “Sales Agreement”) of shares in the share capital of Monevia sp. z o.o. with its seat in Bydgoszcz (“Monevia”), on the basis of which the Issuer acquired 17,000 shares constituting 100% of the share capital in Monevia (“Shares”) for a total price of PLN 11.1 million. The transfer of the Shares to the Issuer took place upon crediting the Seller’s bank account with the amount of 10.1 million, which is part of the price payable on the date of execution of the Sale Agreement.
In connection with the business strategy adopted by the Issuer related to the acquisition of the Shares, Monevia will retain a separate legal personality and will operate under its own brand in its current product offering, i.e. provide invoice acquisition services, which will allow PragmaGO Group to increase its turnover and increase the Group’s share in the digital factoring market.
The Issuer also provides financial information resulting from Monevia’s audited financial statements for 2022, which show:
– PLN 8.8 million revenue,
– PLN 1.2 million net profit,
– PLN 31 million total assets, including PLN 25 million factoring receivables portfolio,
– PLN 5.2 million equity,
– PLN 183 million factoring turnover.
The Issuer considered the above information as important information due to the increase of the Issuer’s market share in the factoring market in the digital segment.
Legal basis: Article 17 (1) MAR – confidential information.