Report19/2022
Seizureof cash receivables pursuant to the decision on property collateral andregarding bank account freeze in connection with the termination ofcriminal proceedings against a former client of the Company belonging tothe STS Group.
Inconnection with the information disclosed in the Company's prospectusapproved by the Polish Financial Supervision Authority on 23 November2021 ("Prospectus") and the previous regular reports of theCompany concerning criminal proceedings against a former client of acompany belonging to the STS Group, i.e. STS S.A., the Management Boardof STS Holding S.A. ("Issuer") would like to announce thatit has become aware that on 29 August 2022, information on the seizureof cash receivables on the bank account of a subsidiary of the Issuer,i.e. STS S.A., in the amount of PLN 9.2 million was delivered. Theseizure was made pursuant to the final termination of criminalproceedings against a former STS S.A. client and the execution of thedecision on property collateral and regarding bank account freeze, about_#160;whichthe Company provided information in the Prospectus and regular reports.
TheManagement Board of the Issuer would also like to announce that as atthe issuance of this report, the collection of the seized cash has notbeen completed, whereas STS S.A. itself will take all legal measuresavailable at this stage to the Company under enforcement proceedings inorder to protect the seized cash.
Inaddition, the Issuer notes that STS S.A. was not a party to the criminalproceedings against the aforementioned client and did not haveappropriate legal tools to protect the interests of the Company in thecourse of the criminal proceedings. In May 2021, however, STS S.A.launched a civil action within criminal proceedings against the StateTreasury for PLN 9.2 million, which is equivalent to the amount of thecurrently seized cash. The proceedings are ongoing and are yet to beclosed.
STSS.A. intends to take all legal measures available to it in order toprotect its financial interests. In the Issuer's opinion, the situationhas no significant impact on the financial situation of the STS Group.
Legalbasis: Article 17(1) of the MAR.