Gielda Papierow Wartosciowych w Wrszw : 23/2018 - Disclosure of delayed inside information concerning sale of shares of an affiliate

2018-06-11 08:16:22

Current Report No. 23/2018

Date:
11 June 2018

Legal basis:
Article 17(4) of MAR - delayed disclosure of inside information

Topic:
Disclosure of delayed inside information concerning sale of shares of an affiliate

Content:
The Management Board of the Warsaw Stock Exchange ('GPW' or 'Company'), acting on the basis of Article 17 (1), (4) and (7) of Regulation of the European Parliament and of the Council (EU) 596/2014 of 16 April 2014 on Market Abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC ('MAR') in connection with the cessation of indications of delay of inside information, hereby discloses these inside information concerning sale of shares of an affiliate ('Inside Information of 8 June') to the public information.

Content of the inside information which was delayed on 8 June 2018 according to Article 17(4) of MAR:
'Further to Current Reports: No. 6/2018 from 23 March 2018, No. 7/2018 from 23 March 2018 and No. 13/2018 from 23 April 2018, the Warsaw Stock Exchange ('GPW') informs that on 8 June 2018 in relation to IPO process, the distribution of shares of the affiliate Aquis Exchange
('Aquis', 'Issuer'), in which GPW held 20.31% of voting and economic rights, took place. Therefore GPW will sell on admission on the 14th June shares of Aquis at the price GBP 2.69 per share, giving the value of the sale of Aquis shares owned by GPW at 12.396.327 GBP gross.'
On 11 of June 2018, the Company decided to publish the delayed inside information due to the termination of the premises to further delay information.

In the opinion of the Management Board, immediate disclosure of the Confidential Information could have adversely affected the legitimate interest of the Company by negatively impacting activities related to the finalization of the IPO process, including the potential negative impact on the business partner's interests and the Issuer whose shares were the subject of the sale transaction, including the competitive position of the Issuer.

At the same time, the Company indicates that the delay in disclosing the above information does not mislead the public and also indicates that it has made all efforts to ensure the confidentiality of the information.

According to the content of art. 17 sec. 4, third paragraph of MAR Regulation, the Company will inform the Polish Financial Supervision Authority about the delay in disclosing the confidential information in question by submitting written explanation about meeting the conditions specified in art. 17 sec. 4 points a) - c) of MAR Regulation immediately after the publication of this report.

Legal basis: Article 17(4) of Regulation of the European Parliament and of the Council (EU) 596/2014 of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (EU Official Journal L 173) ('MAR').

Signatures of authorised representatives of the Company:
Jacek Fotek - Vice President of the Management Board
Dariusz Kułakowski - Member of the Management Board