April 17, 2018 / 9:56 AM / in 6 months

BRIEF-KNF To Take Necessary Steps To Explain GetBack's Case, Resume Trading

April 17 (Reuters) - GETBACK SA

* THE POLISH FINANCIAL SUPERVISOR KNF (KNF) SAYS THAT IT IS TAKING ALL THE NECESSARY MEASURES TO EXPLAIN THE CURRENT SITUATION AND RESUME TRADING OF GETBACK’S FINANCIAL INSTRUMENTS AS SOON AS POSSIBLE, KNF SAID IN A STATEMENT

* THE DEBT COLLECTING COMPANY’S SHARE TRADING GOT SUSPENDED AFTER IT HAD INFORMED ON APRIL 16 THAT IT IS IN TALKS WITH BANK PKO BP SA AND POLSKI FUNDUSZ ROZWOJU (PFR) REGARDING A LOAN OF UP TO 250 MILLION ZLOTYS

* HOWEVER, BOTH PFR AND PKO DENIED BEING IN TALKS WITH GETBACK

* ACCORDING TO KNF, THE ANALYSIS OF ACTUAL SITUATION CASTS DOUBT ON THE CREDIBILITY OF THE INFORMATION PROVIDED BY THE COMPANY

* IT ALSO MAY CONTRIBUTE TO DISINFORMATION THAT IS HARMFUL TO THE MARKET, AS WELL AS IT MAY MISLEAD MARKET PARTICIPANTS ABOUT THE ACTUAL SITUATION OF THE COMPANY

* THE TRADING OF THE COMPANY’S SHARES AND BONDS HAS BEEN SUSPENDED AS OF APRIL 17 ON THE REQUEST OF KNF

* GETBACK’S SUPERVISORY BOARD DISMISSED THE COMPANY’S CEO AND APPOINTED THE SUPERVISORY BOARD CHAIRMAN TO ACT AS AN INTERIM CEO UNTIL JUNE 15

* TWO OTHER BOARD MEMBERS HAVE ALSO RESIGNED, THE COMPANY SAID IN A STATEMENT

Source text: bit.ly/2HHzB5A

Further company coverage: (Gdynia Newsroom)

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