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Current reports

Expedited payment for George Wilson Industries Ltd shares.

Nr 36/2017
Date and time: 2017/10/11, 20:26
Category: Others

With reference to the current report No. 10/2015, the Management Board of Apator SA („Issuer”) notifies that on Feb 27, 2015, Apator Metrix S.A. increased to 100% its participation in George Wilson Industries Ltd. ("GWi"), with its registered office in the United Kingdom, by purchasing 4 million shares from National Industry Group Ltd. ("NIG"). 
The purchase price was GBP 5.4 million, and the payment was divided into 6 annual instalments of GBP 0.9 million each, and hedged by a guarantee granted by Apator S.A covering the amount of GBP 4.5 million. At the same time, GWi had a loan received from BI Group PLC (NIG subsidiary) amounting to GBP 1.7 million with its payment divided into 4 annual instalments and hedged by a guarantee granted by Apator Metrix S.A.

The payments indicated above were effected in accordance with the schedule. In consequence, the amount to be repaid is GBP 2.7 million for the shares themselves and GBP 1.5 million for the loan.

Issuer informs that Apator Metrix S.A, decided to pay the remaining amount for shares ahead of the schedule, reduced by a discount to GBP 2.4 million: on Oct 11, 2017, the amount of GBP 1.5 million financed by an investment loan, and on Feb 28, .2018, the amount of GBP 0.9 million. This will result in expiry of the guarantee for GBP 4.5 million granted by Apator S.A. to NIG.

Furthermore, Issuer informs that GWi will make an expedited repayment of GBP 1.5 million loan, reduced by a discount to GBP 1.4 million, no later than on Nov 30, 2017. The source of financing will be an overdraft and the loan will be hedged with a guarantee granted by Apator Metrix S.A.

legal basis: Article 17.1, MAR. 


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