Date	2022-08-22
Current report no.	23/2022

 

The Management Board of TIM S.A. having its registered office in Wrocław announces that on 22 August 2022, it made a decision to start a review of strategic options regarding the future of the TIM Capital Group.The purpose of the strategic options review is to assess possible directions of actions aimed at maximising the value for the shareholders of TIM S.A. The company considers and is open to a number of possible strategic options, which may include acquiring a financial or strategic investor or carrying out another transaction that may result in a change in the shareholding structure of TIM S.A. In the near future, the Management Board of TIM S.A. plans to conclude agreements with a financial advisor and legal advisor who will support the Management Board in carrying out a review of strategic options. At the same time, the Management Board of TIM S.A. announces that no decision related to the choice of any strategic option has been made and it is uncertain whether and when such a decision will be made. The Company will publish information on the course of the strategic options review process in accordance with applicable law. In addition, the Management Board of TIM S.A. announces that although the Company did not take any initiating actions, external entities interested in the TIM Capital Group expressed their readiness to start talks regarding the future of the TIM Capital Group. The Management Board of TIM S.A. will analyse these expressions of readiness to start talks and any other actions that may result from the review of strategic options. During the review of strategic options, the TIM Capital Group will continue the fulfilment of its operational plan and the implementation of the current business strategy.

SIGNATURES OF PERSONS REPRESENTING THE COMPANY

2022-08-22, Krzysztof Folta – President of the Board 2022-08-22, Piotr Tokarczuk – Member of the Board