Current reports

02.08
2019

Report 16/2019

Current Report No. 16/2019 dated 2 August 2019

Revaluation of the option liability in the consolidated financial statements of the Wirtualna Polska Holding SA Capital Group.

Legal basis: Art. 17 paragraph. 1 MAR - confidential information.

Content of Report:

The Management Board of Wirtualna Polska Holding SA ("WPH") in reference to the current report No. 14/2016 of June 7, 2016 - Disclosure of delayed confidential information about the conclusion of a preliminary conditional share sale agreement / Conclusion of the promised share sale agreement by a subsidiary of Wirtualna Polska Holding SA and current report no. 65/2017 dated 18 October 2017 - Delayed confidential information about the conditional annex to the Shareholders Agreement concluded in connection with the planned subsidiary's investment and the revaluation of the option liability having a significant impact on the consolidated financial result of the Group Capital Group Wirtualna Polska Holding SA in the fourth quarter of 2017, informs that on 2 August 2019 a resolution was passed by the Management Board of WPH regarding the update of the valuation of the option liability for the purchase of other minority shares in the subsidiary Nocowanie.pl Sp. z o.o. ("Nocowanie").

The company's financial results were better than planned, and therefore the Management Board of WPH reviewed the forecasts adopted to measure the option liability. As a result of the update, the valuation of the option liability was increased by PLN 11.6 million. This amount will be charged to the consolidated net financial result of the WPH S.A. Capital Group. for the first half of 2019.

Legal basis: Art. 17 paragraph. 1 MAR - confidential information.

Signatures of the individuals representing the Company:

Jacek Świderski – President of the Management Board/Chief Executive Officer

Elżbieta Bujniewicz – Belka – Member of the Management Board/Chief Financial Officer

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WIRTUALNA POLSKA HOLDING S.A.

ul. Jutrzenki 137 A
02-231 Warszawa
tel.: +48 22 57 67 900
fax: +48 22 57 67 901

REGON: 016366823
NIP: 5213111513