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December 21, 2017 / 16:57

35/2017 Intention to establish a tax capital group

Regulatory filing

The Management Board of Agora S.A. with its registered seat in Warsaw (“Company”, “Agora”) hereby informs that on December 21st, 2017 it adopted a resolution expressing the intention to establish a tax capital group which shall include Agora S.A. and its subsidiaries: Grupa Radiowa Agory Sp. z o.o., Agora TC Sp. z o.o., Trader.com (Polska) Sp. z o.o., Helios S.A., AMS S.A., Yieldbird Sp. z o.o. and Plan A Sp. z o.o.

Agora’s intention is to establish the tax capital group since March 1st, 2018. The process requires fulfillment of a number of formal requirements, including corporate approvals and registration of application for the creation of a tax capital group by the Head of a relevant Tax Office.

In the agreement establishing the tax capital group, Agora shall be appointed the representative company for the tax group within the scope of obligations resulting from the Personal Income Tax Act and from the provisions of Tax Ordinance. The agreement establishing tax capital group shall be in force till 31st of December, 2020.

The Company estimates that the establishment of the tax capital group may result in lower tax charges of tax group, as provided for by law, by approximately PLN 5.0 million annually in the period of tax group’s operation.

Legal basis: Article 17, paragraph 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission directive 2003/124/EC, 2003/125/EC and 2004/72/EC.

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35/2017 Intention to establish a tax capital group