ESPI 24/2020 Disposal of the subsidiary

Management Board of IMS S.A. (“Issuer”, “Company”) informs that on 2 July the Issuer sold to a natural person all of its shares (constituting 73% of the share capital and giving the right to 73% of votes) in the subsidiary IMS events Sp. z o.o.  The sale price was PLN 40 thousand.

IMS events is the business segment of the IMS Capital Group (“the Group”) most affected by negative economic effects caused by the coronavirus pandemic. The estimated revenues of IMS events for the first half of 2020 will amount to only approx. 10% of the revenues generated in the first half of 2019, and the equity of this company shown in the Group’s consolidated financial statement fell below zero at the end of the first half of this year.

The disposal of this subsidiary (and exclusion of its results from the Group’s consolidated statement) will allow to focus even more strongly on the most profitable segments of the Group’s operations.

ESPI 23/2020 Appointment of a new member of the Management Board

Biography of Piotr Kabaj – DOWNLOAD

Member of the Management Board of IMS S.A. statement of Piotr Kabaj – DOWNLOAD

Management Board of IMS S.A. (“Issuer”, “Company”) informs that the Supervisory Board of the Company on 30 June 2020 appointed Mr. Piotr Kabaj to the Management Board of the Company as Vice President of the Management Board as of 1 July 2020. Mr. Piotr Kabaj will be responsible for musical content in the Company. The appointment of Mr. Kabaj to the Management Board of the Issuer is aimed at intensifying the process of commercialization of music databases created in the Issuer’s subsidiary – Closer Music Sp. z o.o., where Piotr Kabaj has been the President of the Management Board since August 2019.

Information on education, professional experience and the position held, together with the required statements of Mr. Piotr Kabaj can be found in the attachment and on the Company’s website: http://imssensory.com/relacje-inwestorskie/zarzad-ir/.

 

Detailed legal basis:

§5 point 5 in connection with §10 of the Regulation of the Minister of Finance on current and periodic information to be published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state.

ESPI 22/2020 Information on transactions on shares of the Company

Information art. 19 MAR – DOWNLOAD

The Board of Directors of IMS S.A. informs that on 23 June 2019 it received notifications under Article 19(1) of the Market Abuse Regulation from a person closely related to the President of the Board of the Company – regarding the disposal shares of IMS S.A.

The notifications constitute attachments to this report.

ESPI 21/2020 Signing an important framework agreement for the installation of Digital Signage systems

Management Board of IMS S.A. (“Company”, “Issuer”) informs about signing on 17 June this year a significant framework agreement for the installation of Digital Signage systems with one of the banks (“Partner”), having several hundred branches in Poland. The agreement was concluded for a period of 3 years with the possibility of its extension for another 2 years. The sale and installation of Digital Signage systems for particular bank branches will be carried out upon placing of specific orders. The estimated maximum revenue of the Issuer from the execution of the agreement in the 3-year period, with orders placed by the bank for all branches, is PLN 10-11 million. The pace and scale of project implementation depends on current decisions of the Partner. Together with the agreement, the parties signed the first order for the implementation of Digital Signage systems in several branches, with the value amounting to less than PLN 0.3 million. The order will be completed by the end of August 2020 at the latest.

ESPI 20/2020 Change in the date of publication of quarterly report for Q1 2020

The Management Board of IMS S.A. informs about the change of the date of publication of the extended consolidated quarterly report for Q1 2020. The report will be published on 15 June 2020, not as the Company informed on 28 May 2020 (according to current report no. 1/2020 of 20 January 2020).

 

Detailed legal basis: §80 section 2 of the Regulation of the Minister of Finance of 29 March 2018 on the current and periodic information and § 21 section 3 of the Regulation of the Minister of Finance on the determination of other deadlines for the fulfilment of certain reporting and information obligations of 7 April 2020. (Journal of Laws of 2020, item 622 in connection).

ESPI 19/2020 Opinion of the Supervisory Board on the Management Board’s recommendation to pay dividends for 2019

With reference to the current report no 15/2020, the Management Board of IMS S.A. (“Company”) informs that today the Supervisory Board of the Company adopted a resolution on positive assessment of the Management Board’s motion to temporarily suspend its dividend policy.

In accordance with the decision of the Management Board – taking into account the occurrence of the epidemic of coronavirus SARS-CoV-2, causing COVID-19 disease and its impact on the activity of IMS S.A. – The dividend payment policy applied by IMS S.A. in relation to 2019 (dividend paid in 2020) is suspended.

At the same time, the Supervisory Board of IMS S.A. indicated that – due to a difficult to predict general economic situation – it is appropriate to re-examine at a later date whether and, if so, in what amount the Management Board will issue a recommendation concerning the payment of dividend for the financial year 2019. The Supervisory Board recommended to the Management Board of IMS S.A. to formulate a new proposal concerning the payment of dividend and thus the distribution of profit for the financial year 2019 on the date of convening the Ordinary General Meeting in 2020.

ESPI 18/2020 Receiving a substantial financial subsidy

Management Board of IMS S.A. (“Company”, “Issuer”) hereby informs that on 13 May 2020 it received information that the Company was granted a subsidy of PLN 2.978.000 from the Polish Development Fund under the PDF Small and Medium Enterprises Financial Shield Programme (“Programme”) launched on 29 April 2020. Previously, three subsidiaries of the Issuer – IMS r&d Sp. z o.o., IMS events Sp. z o.o. and APR Sp. z o.o. – received subsidies in the amounts of PLN 380.000, 265.000 and 299.000 respectively.

Subsidies are subject to be repaid in 24 equal monthly installments, starting from the 13th calendar month, counting from the first full calendar month after the date of granting the subsidy. Basing on the conditions included in the regulations of the Programme, the Board of the Issuer estimates that about 50% of the received amounts of the subsidy, i.e. a total of approximately 2 million PLN, will be remitted.

ESPI 17/2020 Change in the date of publication of annual reports for 2019

The Management Board of IMS S.A. informs about the change of the date of publication of the separate annual report for 2019 and consolidated annual report for 2019. Both reports will be published on 20 May 2020, not as the Company informed on 8 May 2020. (according to current report no. 16/2020 of 27 April 2020). Change of the date of the publication of the reports results from the high involvement of the financial department of IMS S.A. in developing tools to support IMS Group companies in connection with the coronavirus pandemic.

At the same time, the Management Board of IMS S.A. informs that the final financial results for 2019 have not changed significantly in relation to the estimates for 2019 published on 10 February this year in current report no. 6/2020 (the differences are not greater than +/- PLN 0.1 million).

Detailed legal basis: §80 section 2 of the Regulation of the Minister of Finance of 29 March 2018 on the current and periodic information and § 21 section 3 of the Regulation of the Minister of Finance on the determination of other deadlines for the fulfilment of certain reporting and information obligations of 7 April 2020. (Journal of Laws of 2020, item 622 in connection).

ESPI 16/2020 Change in the date of publication of annual reports for 2019

The Management Board of IMS S.A. informs about the change of the date of publication of the separate annual report for 2019 and consolidated annual report for 2019. Both reports will be published on 8 May 2020, not as the Company informed on 29 April 2020. (according to current report no. 13/2020 of 24 March 2020). Change of the date of the publication of the reports results from the high involvement of the financial department of IMS S.A. in developing tools to support IMS Group companies in connection with the coronavirus pandemic.

At the same time, the Management Board of IMS S.A. informs that the final financial results for 2019 have not changed significantly in relation to the estimates for 2019 published on 10 February this year in current report no. 6/2020 (the differences are not greater than +/- PLN 0.1 million).

Detailed legal basis: §80 section 2 of the Regulation of the Minister of Finance of 29 March 2018 on the current and periodic information and § 21 section 3 of the Regulation of the Minister of Finance on the determination of other deadlines for the fulfilment of certain reporting and information obligations of 7 April 2020. (Journal of Laws of 2020, item 622 in connection).

ESPI 15/2020 Information on dividend policy

Management Board of IMS S.A. (“Company”, “Issuer”) announces the suspension of the Company’s dividend policy in relation to 2019 (i.e. the dividend paid in 2020).
The suspension of the applied dividend policy results from a widespread coronavirus pandemic and its impact on the Issuer’s activity (the Issuer informed about it in current reports no. 12/2020 and 14/2020). Thus, the Management Board revokes its recommendation concerning the payment of dividend for 2019 published in Current Report No. 6/2020.
The Management Board will inform the Ordinary General Meeting (“OGM”) on the date of convening the OGM whether and, if so, in what amount the Management Board will recommend the payment of dividend for 2019. The decision will depend on the current situation related to the coronavirus pandemic and the predictions concerning the economic situation in the future.