XCC INVESTMENT SPÓLKA ZOGRANICZONA ODPOWIEDZIALNOSCIA entered into an agreement to acquire FLT Polska Sp. z o.o. from Boryszew S.A. for PLN 100 million.

XCC (POLAND) INVESTMENT SPÓLKA ZOGRANICZONA ODPOWIEDZIALNOSCIA entered into an agreement to acquire FLT Polska Sp. z o.o. from Boryszew S.A. (WSE:BRS) for PLN 100 million on July 27, 2021. The acquisition was acquired in the form of cash payment.

The total consideration for the acquisition is PLN 100 million, PLN 82 million are used to acquire the equity of FLT, and PLN 18 million are used to acquire the "FLT" series of trademarks. Zhejiang XCC Group Co.,Ltd has paid PLN 10 million intent money in the previous period, which will be converted into a part of the transaction consideration after the acquisition agreement is signed. The delivery payment of PLN 85 million (85% of the total transaction consideration) will be paid when the equity is delivered and the final payment.

(5% of the total transaction consideration) is paid within six months of the completion of the settlement. Impexmetal S.A. also undertook to sell to XCC trademarks related to the activities of FLT. FLT Polska Sp.

z o.o. reported Total assets of PLN 186.318 million and net assets of PLN 108.014 million for March 31, 2021. The transaction is subject to the fulfillment of the conditions precedent set out therein, including: (i) the condition of obtaining approvals from the relevant XCC regulatory authorities for the transaction; and (ii) the condition of obtaining approval from the supervisory board of Boryszew. Zhejiang XCC Group Co.,Ltd held the 24th meeting of the third board of directors on July 27, 2021, and reviewed and approved the transaction.

The transaction does not need to be submitted to the shareholders meeting for deliberation.