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Modern Commerce takes over Moliere2 the value of the transaction why


Modern Commerce will take over 80 percent in the first stage of the transaction. shares in IT Fashion Polska Group & Partners, of which 60 percent. shares will be purchased for PLN 60 million, and 20 percent. shares will be contributed as a contribution non-cash towards the increased share capital of the company.

The only condition precedent to the transaction is the registration by the competent court of the increase in the share capital of Modern Commerce by issuing shares for a total amount of not less than PLN 60 million. The second stage of the transaction concerns the acquisition of 10 percent. shares until June 30, 2022 and June 30, 2023.

Modern Commerce will finance the acquisition of the owner of the Moliera2.com brand through the issue of shares, which will be decided by the Ordinary General Meeting convened for June 16 this year. According to the proposed resolutions, the issue will cover up to 190 million shares.

The funds obtained from the issue will also be allocated to recapitalization and development of subsidiaries, operating and investment activities as well as refinancing loan liabilities and further development of the Modern Commerce Group in the area of ​​e-commerce fashion premium.

Modern Commerce is the new owner of Moliere2

Modern Commerce is the owner of the ZłoteWyprzedaż.pl online stores (an online outlet store with premium brands) and Mamissima.pl (an online store with exclusive accessories and toys for children).

“These platforms will gain a very strong partner, thanks to which they will be able to scale their businesses and adjust the quality of services and after-sales service to the acquired company” – emphasizes the company in the announcement.

Moliera2.com fits perfectly into our business. It has an established position on the market with great potential for further development. Together, we create a unique group of e-commerce fashion premium projects that will be an important player on the Polish market. We are entering the first league of online sales of luxury goods in Poland. This is an excellent foundation for further dynamic growth in the coming years based on the multidimensional synergy of selectively selected Group entities – comments Maciej Tygielski, member of the Modern Commerce management board.

IT Fashion Polska Group & Partners is the sole owner of the Moliera2.com store. Six exclusive boutiques in selected cities in Poland in Warsaw, Poznań, Katowice, Sopot and Zakopane also operate under the popular brand.

This is a very important moment in our history and one of the largest transactions of this type on NewConnect. We take over a company larger than us. With a large scale of operations, diversified income, which generates solid profits. After the transaction, the Group’s revenue potential is significantly above PLN 100 million per year, and Moliera2.com will be a pearl in our Group – comments Maciej Tygielski.

The Management Board made a decision according to which, after the end of the share issue related to obtaining financing for the transaction, it will take actions aimed at conducting the issue first of all for the current shareholders of the shares admitted to listing on NewConnect. These shareholders will be able to subscribe for a proportional number of shares in order to maintain their share in the shareholder structure, at a price equal to the issue price from the planned issue, “the company announced in a press release.

The transaction on the Buyer’s side was handled by the law firm MJH Moskwa, Jarmul, Haładów, and on the seller’s side MKZ Partners Michalak Kosicka Zawolski i Partnerzy. Vienna Capital Partners was responsible for the preparation of the transaction.

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