Forum X plans to take part in Answear.com share issue

Answear.com's main shareholder Forum X, which is related to the Company's CEO Krzysztof Bajołek, plans to take part in the offering and subscribe for L-series shares. Forum X's intention is to at least maintain its share in the Company's capital. According to the wording of the announced draft resolutions for the General Meeting, upon approval by the Shareholders, the shares will be offered through a public offering exempt from the requirement to publish a prospectus. The issue price will be determined based on the results of the book-building process.

 

Forum X plans to take part in the offering and subscribe for series L shares in a number that will at least maintain Forum X's current level of involvement in the Company's share capital and total number of votes, with the proviso that Forum X's participation in the offering of series L shares may not give rise to Forum X's obligation to announce a tender offer for the Company's shares.

 

- Participating in the issue is a completely natural decision for us. The PRM brand is an important factor of development for Answear.com, thanks to which we will be able to enter new markets, reach new groups of customers, which will directly translate into maintaining high sales growth dynamics and improving profitability. - comments Krzysztof Bajołek, President of the Management Board of Answear.com and adds - It is too early to talk about the details of the share in the offer, of course we have to wait for the General Meeting to pass resolutions, nevertheless our intention is to avoid dilution and at least maintain the current share in the share capital of the Company, concludes Krzysztof Bajołek.