76/2011
The Management Board of Boryszew S.A., in connection with the current report no 69/2011 of July 30th, 2011, informs that, according to decisions of the agreement (current report of July 30th, 2011), e.g agreement regarding purchase of:
– assets of Altmärker Kunststoff-Technik GmbH in Gardenlegen / Germany,
– shares in AKT Plastikarska Technologie Cechy spol. s.r.o. with the seat in Jablonec over Nisou in Czech Republic
the parties have executed the final activities carried to fulfillment of the agreement.
The issuer informs that on August 27th, 2011 the purchaser received the price for purchased assets and shares according to the decisions of the agreement. The rest of the suspended conditions of the agreement, including the agreement of Federal Anti-Trust Office (Bundeskartellamt) and release the Czech company by banks from guaranties of financial liabilities of AKT in Germany, have been fulfilled. It results in taking over of property of the purchased assets on August 28th, 2011.
The approximate value of the agreement amounts to ca EUR 14 million, including: purchased assets and shares (current report no 69/2011 of July 30th, 2011) and purchased inventories of ca EUR 7 million value. The final price of inventories may be changed after finishing of the process of their valuation as at August 28yh, 2011.
The Management Board of Boryszew S.A. estimates that the replenishment of working capital to EUR 10 million will be made. The total investment of Boryszew S.A. in the international AKT group of companies of the automotive sector amounts to EUR 24 million.
Signatures:
Małgorzata Iwanejko – President of the Management Board