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Work Service S.A. has established the final price and number of its shares

The final share price in the public offering of Work Service S.A. has been set at PLN 6.00. This price will apply to the purchase of the company’s shares both in institutional and open tranches. Primary subscriptions for shares for investors will be accepted from 22 to 26 March.

“The price is a result of talks with institutional investors willing to possess shares in a company that is the leader of a new sector on the WSE in their portfolios,” comments Tomasz Hanczarek, President of the Management Board of Work Service S.A.
 
 “With some of funds raised from the issue of series L shares, we first plan to acquire 75% of shares in IT Kontrakt, which will allow us to enter a new market in Poland and offer the company’s services to the Czech Republic, Slovakia, Germany and Russia,” adds Dariusz Rochman, Vice-President of the Management Board of Work Service S.A.. 
 
 Shares will be issued in an Open tranche as part of which 5 000 000 series L shares will be offered and an Institutional Investors tranche as part of which authorized entities can subscribe for 15 000 000 shares. Subscriptions will be accepted from 22 to 26 March, for no less than 100 shares.

 

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Offering structure 

 

The object of the offering are 20 000 000 series L shares of Work Service S.A., including:

 

●      as part of the Institutional tranche –issue of 15 000 000 shares,

●      as part of the Open tranche –issue of 5 000 000 shares.

 

Rules of subscription for shares by individual and institutional investors

 

In both tranches, shares will be offered in blocks of at least 100 shares, no less.

 

Issue price

 

The issue price is PLN 6.00 and is equal for both tranches and additional subscriptions.

 

Offering schedule

 

The most important dates of the public offering of the shares of Work Service S.A. are included in the following table:

 

Opening of Public Subscription

22 March 2012

Accepting primary subscriptions for Offered Shares

from 22 March 2012

to 26 March 2012

Closing of Public Subscription if there are no additional subscriptions

26 March 2012

Planned announcement to the public of the number of Offered Shares which could be subscribed for as part of additional subscriptions

27 March 2012

The acceptance of any additional subscriptions for shares

from 28 March 2012

to 29 March 2012

Closure of Public Subscription in the case of additional subscriptions

29 March 2012

Planned allotment of shares

Up to 6 business days following the closure of public subscription

 

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Work Service Capital Group provides services in the area of HR management. It specializes in selection and recruitment of qualified employees, personnel consultancy, full outsourcing of functions related with HR and auxiliary processes management in companies as well as offering solutions based on usage of temporary employment contracts. Work Service S.A. is the largest service company on the Polish HR market, operating in the whole country through the network of branch offices as well as abroad in five countries of the Central and Eastern Europe. Work Service has been present on the market since 1999, and due to long-term cooperation with the largest employers in Poland and abroad it has full knowledge of the labour market and comprehensive solutions supporting management. Even 1000 large companies have already chosen Work Service to be their business partner, appreciating the company’s experience, professionalism and individual approach. Each year, thanks to Work Service, as many as 150 thousand people find employment.

 

 

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