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November 13, 2020 / 13:33

40/2020 Intention to extend the period of operation of the tax capital group

Regulatory filing

Management Board of Agora S.A. with its registered office in Warsaw ("Company", "Agora"), with reference to the regulatory filings no. 35/2017 of 21 December 2017 and 6/2018 of 16 February 2018 adopted a resolution on the intention to extend the period of operation of the tax capital group ("PGK"), which will include Agora and the following subsidiaries: Grupa Radiowa Agory Sp. z o.o., Agora TC Sp. z o.o., Plan D Sp. z o.o., Helios S.A., AMS S.A., Yieldbird Sp. z o.o. and Plan D Sp. z o.o., and on signing an agreement to extend the period of operation of the PGK.

The extension of the PGK operation period is planned until 31 December 2021. It was associated with a number of formal requirements, including collecting a number of corporate approvals and submitting an application for registration of the extension of the operation period of the tax capital group by the Head of a relevant Tax Office.

In the agreement to establish a tax capital group, Agora was indicated as a company representing PGK in the scope of obligations under the Corporate Income Tax Act and the provisions of the Tax Ordinance. The agreement on extending the period of operation of the PGK was concluded for the period until 31 December 2021.

The company estimates that the extension of the operating period of the tax capital group may result in a reduction of the group's tax liability by approx. PLN 5 million in 2021.

Legal basis: Art. 17 sec. 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 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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40/2020 Intention to extend the period of operation of the tax capital group