McGovern buys into e-book company

On February 16th, Closed-end investment fund for Niepublicznych Venture Capital Satus (SATUS Venture) sold a total of 141,600 shares of Legimi for PLN 24 per share in an off-market transaction. This gives a package worth nearly PLN 3.4 million. This means that the SATUS Venture fund reduced its involvement in the Legimi shareholding from 21 percent to 11 percent. It is a natural process related to the strategy and investment profile of venture capital funds. It was also connected with the resignation from the functions held by the fund’s representatives on the supervisory board of Legimi.

The other party to the transaction, buying a block of shares from the fund, was Małgorzata McGovern (wife of AmRest founder Henry McGovern), who as a result of the transaction owns 159,600 shares of Legimi, which gives a share of 11% in the shareholder structure. The founders and members of the management board of Legimi – Mikołaj Małaczyński and Mateusz Frukacz, hold the largest block of shares in total, giving a 32% stake in the shareholder structure.

Legimi S.A. is a pioneer on the Polish e-book market. The company was the first in Poland to offer users access to the Legimi digital library in return for a subscription fee. It also offers its services through all mobile operators, and offers its customers a number of amenities, including free choice of reading platform and device, possibility to switch between e-book and audiobook. Legimi boasts the largest database of titles in the fiction category. Thanks to attractive offers, the Company has been developing very dynamically for several years, increasing its revenues and the number of clients in Poland. The company also operates on the German market, which is one of the largest in the world.


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