The Management Board of Summa Lingua S.A., based in Krakow, (“Issuer”, “Company”) hereby announces that on 8 May 2018, the Company concluded a contract for the provision of translation services (“Agreement”) with Christian Holy City Church (“CHCC”), based in New York, USA.
Under the Contract the Issuer will provide translation services to CHCC in the EN-PL language pair. Each Party may terminate the Contract at any time.
The estimated consideration payable to the Issuer under the Contract will be approx. PLN 1.0 million per annum. The Issuer is carrying out negotiations aimed at extending cooperation with CHCC to provide translation services also in other language pairs.
Christian Holy City Church is a Chinese-American Christian organization based in New York, founded in 2011 by a group of pastors and Christians. It deals with e.g. publication and distribution of various religious materials, mainly in the Chinese community around the world (books, films, music, publications).
The Issuer’s Management Board considers this Contract significant, as its value meets the significance criteria defined in the Issuer’s Disclosure Strategy, and due to the fact that its conclusion is yet another important stage in building up the revenue backlog for 2018 and subsequent years.
Legal grounds: Article 17(1) of MAR – confidential information.
The Company’s representatives
Krzysztof Zdanowski, President of the Management Board