The Management Board of Summa Linguae Technologies S.A. based in Krakow (“Issuer”), with reference to Current Report 54/2020 of 2 December 2020 regarding the conclusion of heads of terms concerning the sale of shares in a subsidiary of the Issuer, hereby announces that on 23 March 2021, the Issuer and Casa de Traduceri SRL based in Bucharest, Romania, an LSP (“Buyer”), and Kommunicera Communications AB based in Goteborg, Sweden (“Kommunicera”), a subsidiary of the Issuer, concluded an agreement on the sale of a total of 100% shares in Summa Linguae Romania SRL based in Bucharest (Romania ) (“SLR”), a subsidiary of the Issuer, under which the Issuer sold to the Buyer 25,409 shares of SLR, representing 99.996% of the share capital of SLR, for a price not higher than EUR 80,000 (PLN 368,800.00 at the average NBP exchange rate of 23 March 2021: EUR 1 = PLN 4.61 (“EUR exchange rate”)), and Kommunicera sold 1 share representing 0.004% of the share capital of SLR for EUR 1 (PLN 4.61 at the EUR exchange rate) (“Transaction”).
As a result of the Transaction the Issuer ceased to control SLR.
The Issuer considers the above information material, as the Transaction affects the composition of the Issuer’s group.
The Company’s representatives,
Krzysztof Zdanowski, CEO