Acquisition of Saturn Fitness Group sp. z o.o.
Management Board of Benefit Systems S.A. with its registered seat in
Warsaw (the “Issuer”) hereby announces that on April 13, 2023, the
Issuer, as the buyer, concluded with, inter alia, Ms. Katarzyna Beata
Szafron, as the seller (the “Seller”) – shareholder of Saturn Fitness
Group sp. z.o.o. with its registered seat in Warsaw (“Saturn Fitness
Group”), agreement for the sale of shares in the share capital of Saturn
Fitness Group (“Agreement”). The Seller is not related to the members of
the Issuer’s governing bodies.
Under the Agreement the Issuer acquired shares representing 100% of the
share capital of the Saturn Fitness Group (the “Shares”).
The total valuation of the transaction amounts to PLN 27.6 million. The
amount consists of the selling price for the Shares and Saturn Fitness
Group cash liabilities amount, resulting from an acquisition by the
Saturn Fitness Group of organized parts of the enterprises of Saturn
Investment Katarzyna Szafron sp. j., Saturn Fitness sp. z o.o. and
Saturn Fitness Plus sp. z o.o. companies in the form of inter alia 6
fitness clubs (located in Gdynia, Warsaw, Kraków, Chorzów, Gorzów
Wielkopolski and Łódź) before the conclusion of the Agreement.
The selling price for the Shares could be increased by PLN 1.1 million
on the terms and conditions set in the provisions of the Agreement,
inter alia achieving by the Saturn Fitness Group revenue level set in
the provisions of the Agreement.
The Agreement also specifies other obligations of the parties to the
Agreement not deviating from the applicable standards for this type of
agreement.
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