CCC footwear will offer to investors some 8.16 million shares at PLN 190/share

As stated, the submission of the offer to take up shares to Ultro Investment will take place after the company's supervisory board approves the transaction with a related party under the regulations.

On Monday, CCC started the book-building process for a private placement offer of up to 10 million N-series shares.

The offer is being conducted under the terms and conditions set out in the EGM resolution and the board of directors' resolution of March 17 2025. The EGM shareholders decided to increase the share capital by issuing up to 10 million series N shares.

According to the resolution, the primary purpose of the issue of new CCC shares is to raise funds to pay the cash portion of the redemption price from minority shareholders of Modivo shares.

Previously, CCC's board had already received a pledge from the company's shareholder, Ultro, to provide the company with equity financing of approximately PLN 500 million (EUR 119.4 mln) through the share issue.

Ultro, owned by CCC chairman Dariusz Milek, intends to maintain or increase its shareholding in CCC after the issue.

A&R Investments Limited, an existing shareholder of Modivo, has decided to invest PLN 100 million (EUR 23.9 mln) in the acquisition of CCC shares through a series N share offering. A&R Investments is a company related to parcel locker operator InPost's CEO Rafal Brzoska.

In an earlier announcement, it was reported that the conclusion of the share subscription agreements is planned by March 27, 2025.

On Tuesday, by the end of trading, CCC's share price was PLN 208.8 (EUR 49.86).

doa/ han/