The completion of the review of strategic options for subsidiaries and co-subsidiaries of TIM S.A.

16.05.2019

Date

2019-05-16

Current report no.

20/2019

 

TIM S.A. (“TIM S.A.”, “the Company”) informs that on 16.05.2019 the Board of the Company passed a resolution on the completion of the review of strategic options for subsidiaries and co-subsidiaries of TIM S.A. which initiation was announced by the Company in the Current Report no. 5/2018 of 22.03.2018.

As a result of the review of strategic options, the Company completed the following operations:

  • 29 June 2018 the General Meeting of Shareholders of Sun Electro Sp. z o.o. passed a resolution on dissolving Sun Electro Sp. z o.o. upon carrying out the liquidation proceedings. Currently, the liquidation procedure of Sun Electro Sp. z o.o. is carried out.
  • In period 18-26 September 2018 TIM S.A. purchased 2,502,111 shares of ROTOPINO.PL S.A. with its seat in Bydgoszcz, at weighted average price of PLN 2.60 per share increasing their involvment in the share capital of ROTOPINO.PL S.A. from 74.1% to 99.13%. On 15 November 2018 the Board of TIM S.A. decided to initiate operations to request other Shareholders of ROTOPINO.PL S.A. to sell all possessed shares. On 18 December 2018 the settlement of the Forced Buyout took place; as a result TIM S.A. possesses in total 10,000,000 shares of ROTOPINO.PL S.A. which corresponds to 100% of the share capital of ROTOPINO.PL S.A. Currently, on the motion of TIM S.A., waiving of share dematerialisation of ROTOPINO.PL S.A. and delisting the above-mentioned company’s shares from the alternative trading system NewConnect are being carried out.
  • On 10 December 2018 TIM S.A. sold 1,020,000 shares of Elit S.A. at the price of PLN 1.00 per share decreasing their involvement from 51% to 0%.
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
2019-05-16, Krzysztof Folta – President of the Board
2019-05-16, Piotr Tokarczuk – Member of the Board
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