Infoscan has agreed the terms of the investment in Grupa Modne Shopping (GMZ.CO) – the owner of e-commerce platforms (including Intymna.pl), the company said. Infoscan will acquire a 30% stake in GMZ.CO for PLN 4.5 million, and will subsequently take control of the company. The signed document is one of the stages of the implementation of Infoscan’s strategy for 2021-2025, assuming the generation of annual revenue of PLN 100 million within 4 years.
“First, the extraordinary general meeting of GMZ.CO shareholders will decide to increase the share capital by issuing 9,517 new shares. Some of them will ultimately be acquired by Infoscan, thanks to which they will obtain 30% of the company’s capital. Then the extraordinary general meeting of shareholders of Infoscan will decide to issue up to 26.4 million new shares, and the funds obtained from the issue will be allocated to the acquisition of GMZ.CO shares, ”the release reads.
“The signed term sheet is the culmination of the last few weeks of talks and negotiations with the Modne Shopping Group. The acquisition of a significant stake in the company by Infoscan will be the first step to start operating in the e-commerce segment and implement the new development strategy. We hope that the change of the market will be beneficial for the company’s shareholders. Guided by their interests, we want to direct the issue of shares to them in the first place, ”said the president of Infoscan, Kamil Gaworecki.