Opening of the liquidation proceedings of ATM S.A. subsidiaries
Current report 34/2009 dated 23.12.2009
The Management Board of ATM S.A. announces that on December 22, 2009 The Extraordinary Meeting of iloggo Sp. z o.o. Shareholders passed the resolution concerning dissolving iloggo Sp. z o.o.
With reference to the above, on December 28, 2009 the opening of the liquidation proceedings concerning iloggo Sp. z o.o. will be submitted to the 13th Commercial Division of District Court of Warsaw.
Mr Rafał Mrzygłocki was appointed as the company’s liquidator.
Shareholders’ equities of the company on the day of the liquidation opening are PLN 106,223,52. At the same time, iloggo Sp. z o.o. does not have any obligations exceeding shareholders equities.
The iloggo Sp. z o.o. shareholders jointly decided that further development of the company and its products would require significant marketing expenditures to increase the portal’s reach, and build popularity necessary to pass the profitability threshold. Taking into consideration that the involved financial risk would be too high, and the project’s success still would be uncertain, the shareholders decided jointly to end iloggo Sp. z o.o. business activity.
The undertaken actions are consistent with adopted by the Issuer’s Management assumptions regarding the rearrangement of ATM S.A. capital group structure.
Roman Szwed — President of the Management Board,
Tadeusz Czichon — Vice-President of the Management Board