Key insights
5 takeaways · ~2 min read- 01PCF Group S.A. reached a settlement with OÜ Blite Fund on 21 August 2023 regarding the acquisition of Incuvo S.A. shares.
- 02The agreement requires PCF Group S.A. to pay an additional 2,050,000 PLN to Blite Fund as part of the final purchase price.
- 03This payment covers 7,143,900 shares of Incuvo S.A. originally acquired under a share sale agreement dated 13 December 2021.
- 04The settlement amount constitutes a full and final resolution of all mutual claims between the two parties related to the 2021 share sale agreement.
- 05PCF Group S.A. will record the 2,050,000 PLN payment in its income statement for the second quarter of 2023.
Summary
The report announces that on 21 August 2023, PCF Group S.A. entered into an agreement with OÜ Blite Fund, a limited liability company based in Tallinn, Estonia. Under the settlement, PCF Group S.A. committed to pay Blite Fund 2 050 000,00 złoty as an additional payment for the purchase price of 7 143 900 shares of Incuvo S.A., a company headquartered in Katowice. These shares were originally acquired by PCF Group S.A. through a share sale agreement dated 13 December 2021 between the two parties.
The additional payment represents a full settlement of all mutual claims arising from or related to the share sale agreement. The amount will be recorded in PCF Group S.A.’s income statement for the second quarter of 2023. The settlement is made pursuant to Article 17(1) of the MAR regulation, and it follows a prior interim report dated 13 December 2021. The document provides no further methodological details, as it is a straightforward disclosure of the contractual resolution and its financial impact on the company’s quarterly results.
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