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Number Date Subject
23/2014 2014-03-21 Signing a Letter of Intent regarding purchase of assets of significant value

Current report no 23/2014

The Management Board of Boryszew S.A. (the Company) informs that on 21 March 2014 the Company signed a Letter of Intent with shareholders of Tensho Poland Corporation Spółka z o.o. with the seat in Ostaszewo (TPC), i.e. Mitsui & Co. Limited, Tokio, Japan, Mitsui & Co. Deutschland, Düsseldorf, Germany, Tensho Electic Industries Co. Ltd., Tokio, Japan, Sanko Corp. Ltd., Tokio, Japan regarding purchase of 80 % of the company’s shares.

The Letter determines the principles of sale by the to date shareholders of TPC for the benefit of Boryszew S.A. of 136 000 shares of the nominal value of PLN 500 each and the total nominal value of PLN 68,000,000 , constituting 80 % of the initial capital (with the option to purchase the remaining 34 000 shares constituting 20 % of the initial capital). Transaction includes purchase of 80 % of shares for the amount of EUR 1.6 m and acquisition by Boryszew S.A. the interests indebtedness of TPC for the amount of EUR 9 m, altogether EUR 10.6 m.

According to the provisions of the signed Letter of Intent, the Share Purchase agreements will be concluded separately by each of Shareholders. The detailed conditions of the Share Purchase agreements , binding for Parties, will be determined on behalf of provisions accepted in the letter of Intent.
The above mentioned Letter of Intent does not obliged the Parties to conclude the Share Purchase agreement.
TPC is a high-quality producer of plastics products, including:
- elements for TV industry (both outer elements as well as inner assembling elements),
- plastics parts for automotive,
- packagings and other products with wide use in logistics and dispatching (plastic pallets, containers, boxes), as well as containers for medical waste materials).


Piotr Szeliga - President of the Management Board


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