Brief: Answear.com Signs Prelim. Deal To Buy Part Of Fashion Trends Group

Answear.Com SA

10/02/2023 07:04

Feb 10 (Reuters) - Answear.com SA  ANRP.WA :
    * SAID ON THURSDAY IT HAS SIGNED A PRELIMINARY DEAL WITH
FASHION
TRENDS GROUP (FTG), LUKASZ LEPCZYNSKI AND JPO INVEST ON PURCHASE
OF ORGANISED PART OF ENTERPRISE (OPE) OF FTG
    * FTG RUNS RETAIL SALE UNDER SNEAKERSTUDIO AND PRM BRANDS AS
WELL
AS DISTRIBUTION SALE OF SELECTED BRANDS 
    * FTG FOCUSES ITS ACTIVITY ON CENTRAL EASTERN EUROPE MARKETS
    * THE ACQUISITION OF FTG'S ORGANISED PART OF ENTERPRISE IS
TO BE A
LONG-TERM INVESTMENT WHICH IS AIMED AT STRENGTHENING COMPANY'S
POSITION IN THE PREMIUM SEGMENT AND REACHING NEW GROUPS OF
CUSTOMERS
    * ACQUISITION TO TAKE PLACE IN EXCHANGE FOR COMPANY SHARES
    * SIGNING OF PROMISED DEAL DEPENDS ON SHAREHOLDERS' DECISION
TO
INCREASE COMPANY'S SHARE CAPITAL VIA ISSUE OF 350,000 SHARES AT
ISSUE PRICE OF 29.0 ZLOTYS WITHOUT PRE-EMPTIVE RIGHTS
    * DEAL ALSO DEPENDS ON SHAREHOLDERS' DECISION TO
CONDITIONALLY
INCREASE COMPANY'S SHARE CAPITAL BY UP TO 27,500 ZLOTYS VIA
ISSUE OF 300,000 SUBSCRIPTION WARRANTS FOR FTG AND 250,000
SUBSCRIPTION WARRANTS FOR LUKASZ LEPCZYNSKI
    * DEAL ALSO DEPENDS ON JOINED APPLICATION BY FTG AND THE
COMPANY
FOR AN INDIVIDUAL TAX INTERPRETATION CONFIRMING THAT THE
ORGANISED PART OF ENTERPRISE CONSTITUTES AN ORGANISED PART OF
ENTERPRISE
    * SIGNING OF THE PROMISED DEAL IS PLANNED FOR JUNE 1 WITH
POSSIBLE
DELAY OF THE DEADLINE TILL JULY 1

        
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