Brief: Satis Group Signs Settlement

Satis SA

06/12/2018 08:35

Dec 6 (Reuters) - SATIS GROUP SA  IAGP.WA :
    * SAID ON WEDNESDAY THAT ON FEB. 22 IT SIGNED SETTLEMENT
WITH ALL
PERSONS AND ENTITIES THAT FORMALLY OBJECTED TO ACTIONS INITIATED
DURING EXTRAORDINARY GENERAL MEETING OF JUNE 14, 2017
    * SAID UNDER THE SETTLEMENT, AMONG OTHERS, ALL CO'S
MANAGEMENT
BODIES' MEMBERS WERE DETERMINED
    * ALSO SAID THE SETTLEMENT CONFIRMS SALE OF HOLDING
INWESTYCYJNY
AKESTO SP. Z O.O. FOR 45,000 ZLOTYS
    * UNDER THE SETTLEMENT CO'S UNIT, SATIS GPS SP. Z
O.O.(SATIS),
RESOLVED TO RAISE ITS SHARE CAPITAL BY 100,000 ZLOTYS
    * SAID SATIS IS CO'S ONLY VALUABLE ASSET
    * SAID SATIS' NEW SHARES TO BE TAKEN UP BY AN EXTERNAL
INVESTOR
FOR 1.0 MLN ZLOTYS
    * THE SURPLUS OVER NOMINAL VALUE OF SHARES IN AMOUNT OF
900,000
ZLOTYS WILL BE TRANSFERRED TO UNIT'S RESERVE CAPITAL STABILIZING
ITS FINANCIAL SITUATION
    * SAID CO WILL HOLD 85% IN SATIS, WHILE 15% WILL BE OWNED BY
XENOTIM SA, WHICH PROVIDED CURRENT FINANCING AND PREVENTED
SATIS' INSOLVENCY
    * SAID SIGNED THE SETTLEMENT MAINLY TO WITHDRAW ALL COURT
CASES,
ENABLE CO TO CONTINUE OPERATIONS AND RESUME TRADING IN CO'S
SHARES

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM8cjbHva
    
 Further company coverage:  IAGP.WA  
   


 (Gdynia Newsroom)
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))