Conditional agreement for the sale of shares of S.A.



Current report no.



Management Board of TIM S.A. with its registered office in Wrocław notifies that a conditional agreement for the sale of shares of S.A with its registered office in Bydgoszcz (hereinafter: „Agreement”) was concluded on 26 November 2020 pursuant to which TIM S.A. with its registered office in Wrocław undertook to sell for the benefit of OPONEO.PL S.A. with its registered office in Bydgoszcz 10,000,000.00 (in words: ten million) bearer shares of S.A. with the nominal value of PLN 0.10 (in words: ten groszy) each share, with the total nominal value of PLN 1,000,000.00 (in words: one million zlotys), which shares constitute 100% of the share capital of S.A., for the price of PLN 35 000 000,00 (in words: thirty five million zlotys).

The Agreement was concluded subject to fulfilment of a condition precedent consisting in obtaining an unconditional and final consent of the President of the Office of Competition and Consumer Protection to concentration.

The agreement transferring ownership of shares of S.A. will be concluded between the parties within 10 (ten) business days of the date of fulfilment of the condition precedent referred to above, unless the Parties agree otherwise.

The maximum date for the fulfilment of the above condition has been determined by the parties for 31 March 2021.

The Agreement provides for the right to withdraw from the Agreement for each party under the conditions specified therein.

The remaining terms and conditions of the Agreement do not diverge from the terms and conditions applied in this type of contracts.

As a result of the performed analysis, the Management Board of TIM S.A. has decided that it is justified to classify the information indicated above as confidential information within the meaning of Art. 7 MAR due to potential influence of the above facts on financial results of TIM Capital Group.

2020-11-27, Krzysztof Folta – President of the Board
2020-11-27, Piotr Nosal – Member of the Board