RB: 3/2019
Date: 15 January 2019
Acquisition by the Issuer of 47.5% of shares in Benefit Partners sp. z o.o. 
Legal basis: Article 17 Sec. 1 MAR – confidential information

Text of the report: 

The Management Board of Benefit Systems S.A. with its registered seat in Warsaw (the “Issuer”) hereby announces that on 15 January 2019, the Issuer entered into agreement for acquisition of 47.5% of shares in Benefit Partners sp. z o.o. (the “Benefit Partners”) at the price of PLN 2.6 million. The agreement was entered into with Cal Capital sp. z o.o., a company controlled in 100% by Ms Agnieszka van Bergh. As a result of the transaction, the Issuer now holds 95% of the share capital of Benefit Partners and will be fully consolidating the results of the latter company. The remaining 5% of the share capital are held by Mr Zbigniew Tatys, CEO of the company.

The activity of Benefit Partners consists in the purchasing of sports equipment and leasing it out to fitness clubs (which form parts of the Capital Group of the Issuer with an option of cooperation also with the entities of the fitness sector from outside of the Issuer’s Capital Group). Benefit Partners is financed by bonds (PLN 36.3 million as at 31 December 2018) and loans granted by the Issuer (PLN 41.0 million as at 31 December 2018).

The revenues of Benefit Partners amounted to PLN 4.5 million in 2017 and PLN 5.2 million in the first six months of 2018.  At the web site of Benefit Partners, in the section: relacje inwestorskie (investor relations), semi-annual and annual financial statements of the company are available.

Cal Capital sp. z o.o. acquired shares in Benefit Partners as a result of capital increase in Benefit Partners in May 2017, which was announced by the Issuer in the consolidated financial statements for the first six months of 2017 and in the consolidated financial statements for 2017.