The Management Board of TOYA S.A. (hereinafter: the Issuer) informs that on 24 December, 2018 it made a decision to enter into the process of negotiation with the economic zone located in the Zhejiang Province in the People’s Republic of China (hereinafter: the Zone) aimed at preparing, drawing up and signing an agreement between the Issuer and the Zone, the subject of which is to enable the Issuer to increase the warehouse storage space by constructing a warehouse (hereinafter: the Project) in the area of the Zone.
The performance of the Project is related to an intensive growth of TOYA S.A. Capital Group (hereinafter: the Group) and thus resulting necessity to ensure high availability of the goods, both to the Issuer and the remaining companies within the Group. For many years, the Group has been successfully managing the chain of supplies made up of suppliers and customers on many continents. The Group adjusts those activities to current needs with a view to ensuring effectiveness with maximum reduction of related costs.
At the moment, the Issuer is considering the possibility of implementing the project by a newly formed company dependent on the Issuer.
The Issuer would like to stress that for the time being no final arrangements have been made, and the commencement of the above-described negotiations does not mean that the negotiations will end in determining final terms and conditions of the agreement.
At the same time, the Issuer stipulates that the implementation of the Project requires obtaining the necessary administrative decisions and formal and legal consents as well as obtaining the desired financing structure for the project.
In the event of concluding the agreement which the negotations apply to, the Issuer shall notify of its conclusion by means of a separate current report.
Legal basis: art. 17, section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU L of 2014 No. 173 p. 1 as amended).
Radosław Czajkowski
pp. President of the Management Board