The Board of Directors of IMS S.A. (“the Issuer”) informs that on 7th February 2018 the parties to the letter of intent of 17th October 2017 (“the Letter”), of which the Issuer informed in ESPI 36/2017 report, closed negotiations without reaching an agreement. The reason for prolonged and difficult negotiations was the findings and conclusions of the due due diligence audit. The due diligence audit showed a disparate picture and actual financial results of MakeSense Media Sp. z o.o. (“MSM”) than the ones the company and its controlling shareholder had presented before. The due diligence audit also revealed unknown before major risks relating to this company and its operations, which had a significant effect on negotiations and the discussed terms and conditions of the acquisition and further collaboration.
