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.

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: https://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.

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.

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.

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).