RB 7/2018 
Date: 13 February 2018
Subject: Consent of the Supervisory Board for the restructuring of debts of subsidiaries of the Fitness segment
Legal basis: Art. 17 item 4 MAR – inside information

The Management Board of Benefit Systems S.A., with its registered seat in Warsaw (hereinafter ‘the Company’) informs that on 13 February 2018, the Supervisory Board of the Company, acting upon request of the Management Board of the Company, granted consent for the restructuring of debts of selected companies of the Fitness Segment, consisting in increase of the share capital of Fit Invest Sp. z o.o. (which is 100% controlled by the Company) (hereinafter ‘Fit Invest’) from PLN 4 713 600 up to PLN 10 813 600, i.e. by PLN 6 100 000 by way of creating 122 000 new shares and their taking up by the Company in return for contribution in cash of PLN 61 000 000, which will be spent on:

a) increase of the share capital of Fitness Academy Spółka z ograniczoną odpowiedzialnością SKA, with its registered seat in Wrocław, which is 100% controlled by Fit Invest (hereinafter ‘Fitness Academy’), from PLN 160 000 up to PLN 2 860 000, i.e. by PLN 2 700 000, by way of creating 27 000 new shares and their taking up by Fit Invest in return for contribution in cash of PLN 27 000 000.
b) increase of the share capital of Fabryka Formy S.A. with its registered seat in Sierosław, which is 100% controlled by Fit Invest (hereinafter ‘Fabryka Formy’), from PLN 3 457 702 up to PLN 5 457 702, i.e. by PLN 2 000 000, by way of creating 20 000 000 new shares and their taking up by Fit Invest in return for contribution in cash of PLN 20 000 000; and
c) increase of the share capital of Fitness Place Sp. z o.o. with its registered seat in Warsaw, which is 100% controlled by Fit Invest (hereinafter ‘Fitess Place’), from PLN 5 000 up to PLN 1 405 000, i.e. by PLN 1 400 000, by way of creating 28 000 new shares and their taking up by Fit Invest in return for contribution in cash of PLN 14 000 000.

The funds received by Fitness Academy, Fabryka Formy and Fitness Place will be spent on repayment of liabilities on account of loans granted to them by the Company.

The Management Board of the Company indicates that the above-mentioned activities are expected to be implemented in the first half of 2018.