Press Office

Announcement of the Merger Plan of Asseco Poland S.A. with SKG S.A.

1. Announcement of the Merger Plan

2. Merger Plan

3. Financial statements and reports of management boards on the activities of the merging companies for the last three financial years, together with the auditor's opinion and report:

1. Annual reports of Asseco Poland S.A. for 2019
2. Annual reports of Asseco Poland S.A. for 2018
3. Annual reports of Asseco Poland S.A. for 2017
4. Financial Statement of SKG S.A. for 2018
5. Statement on operations of SKG S.A.in 2018
6. Independent Auditors' Opinion on Financial Statement for 2018
7. Financial Statement of SKG S.A. for 2017
8. Statement on operations of SKG S.A. for 2017
9. Independent Auditors' Opinion on Financial Statement for 2017
10. Financial Statement of SKG S.A. for 2016
11. Statement on operations of SKG S.A.in 2016
12. Independent Auditors' Opinion on Financial Statement for 2016

4. I notification about the intended merger

5. II notification about the intended merger

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With the safety of our employees, customers and all stakeholders in mind, we have reviewed our business continuity and crisis management plan to adapt procedures to the current situation caused by coronavirus and its subsequent consequences. We have taken into account possible governmental orders such as restrictions on movement and assemblies or the need for quarantine, which would involve the unavailability of offices or mass absences of employees.
We would like to emphasize that at present we do not see any real threat to the continuity of the Company's operations. We have taken all necessary steps to ensure safe working conditions for our employees and full readiness to serve our clients and meet their obligations.
As part of our preventive measures, we have taken the following steps, among others:
•All events organized by Asseco (conferences, presentations, company meetings, etc.) have been moved to another date.
•We have introduced a ban on our employees from participating in mass events or trainings organized by other companies.
•We have limited the number of business trips with the use of public transport to the necessary minimum. At the same time, we recommend that as many meetings as possible be held in the form of tele- or videoconferences.
•We have introduced a ban on business trips to the countries or regions listed on the GIS website, as well as on receiving delegations from these places. The list is monitored on an ongoing basis.
•We discourage employees from making private journeys to countries or regions at risk (listed on the GIS website). In the event that an employee returns from one of these places, he/she is required to undergo quarantine for 14 days and will work from home if possible.
•If an employee comes into contact with an infected or quarantined person, he/she is obliged to undergo quarantine for 14 days and will work from home if possible.
With best regards,
Management Board of Asseco Poland

Asseco and Cyfrowy Polsat won in the "Event of the Year in the ICT Sector" category during the 12th TIME Economic Forum held on March 9-10, 2020 in Warsaw. The title was awarded for establishing the cooperation between these two leaders of the IT and telecommunications market. The award was received on their behalf by Radosław Semkło, the Director of the Telecommunications and Media Division at Asseco Poland and the Member of the Management Board at Polkomtel.

The cooperation with Cyfrowy Polsat is a huge development opportunity for Asseco, especially in the telecommunications and media sector. We are aware that having such a partner not only strengthens our market position, but also gives us a chance to gain unique references, said Radosław Semkło. In turn, our knowledge and experience reinforce the competence of Cyfrowy Polsat in the IT area, which has become an integral part of the telecommunications industry, he added.

The TIME Economic Forum Award is a distinction awarded to companies and individuals contributing to the development of the ICT market with their attitude, work and commitment. They promote the implementation of modern technologies, contribute to the improvement of standards, quality of offered products and services and support the innovative transformation of the digital industry.

By the end of June, non-public stock and limited companies must select an entity to keep an electronic register of shareholders. Only entities authorized to conduct brokerage activities, such as brokerage offices and houses, will be able to do so. Asseco Poland has developed PROMAK RA - an IT system that will enable to serve these new clients. Asseco's solution is integrated with the Blockchain Platform for the Capital Market provided by the National Depository for Securities (KDPW).

The mandatory dematerialization of non-public companies' shares will apply to all stock companies and limited stock partnerships, regardless of the number of shareholders. In Poland there are about 14,000 such entities. The shares of these companies issued in the form of a paper document will expire in 2021. These companies will have to have an electronic register of shareholders kept by an authorized entity, e.g. a brokerage house. The aim of the changes is to increase the transparency and efficiency of the exchange of information on tax matters in accordance with the standards of the Organization for Economic Cooperation and Development.

The introduced changes mean a new area of activity for brokerage offices. With a view to adapt them to the new responsibilities, Asseco Poland has developed PROMAK RA - an IT system that enables keeping the register of shareholders. It provides users with an electronic form of all brokerage activities related to the register of shareholders (register of agreements, issues, transfers, blocks of shares, register certificates) as well as handling of rights attached to shares, including dividends. By the end of June 2020, companies must select the entity with which they will conclude an agreement to maintain the e-register.

It is impossible to keep an electronic register without a specially developed IT system. Asseco has been cooperating with the capital market for many years; therefore, with the new responsibilities of brokerage houses in mind, we have created PROMAK RA, which will allow them to offer these services at the highest level of technology and security, said Artur Trunowicz, Director of the Capital Markets Division, Asseco Poland.

PROMAK RA can be implemented both in the system of the existing infrastructure of the financial institution, as well as launched in the cloud-based SaaS formula. This allows for an easy and quick start-up of the solution without the need to engage internal IT resources. Asseco's system is integrated with the Blockchain Platform for the Capital Market developed by KDPW.

The idea of the Blockchain Platform for Capital Market is to provide all its participants with the infrastructure to co-create a uniform, safe and trusted ecosystem of cooperation. It is an open solution, which facilitates the cooperation in the area of innovative post-trading services, said Sławomir Panasiuk, Vice-President of the Management Board of KDPW.

The aim of KDPW in creating the concept of the Platform was to minimize the costs associated with the creation of services in a distributed model. This allows for the creation of specific solutions without the need to incur duplicate expenses on the creation of the network and development of its maintenance processes. The Platform also lowers the threshold of entry into the area of blockchain technology and allows to widely use the potential of the ecosystem created by capital market institutions. The platform was launched in mid-2019. The first service available on the platform is eVoting, which digitizes the voting process at general meetings of companies.

Asseco for the capital market
Asseco Poland is a provider of the PROMAK family of solutions dedicated to the financial sector, which effectively support the work of brokerage houses, banks, depositors and investors, both individual and institutional. The company is also the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the 6th largest European software producer. It leads international Asseco Group, which operates in over 50 countries and employs over 24,000 people.

KDPW Group
The National Depository for Securities (Krajowy Depozyt Papierów Wartościowych - KDPW) forms a capital group offering highly specialized services for the financial sector, related to the deposit of dematerialized financial instruments, clearing and settlement of transactions, performance of services to holders of securities, data collection and storage. The group consists of KDPW, which acts as the central securities depository (CSD), and the KDPW_CCP clearing house.

Related links

• Więcej informacji o rozwiązaniach PROMAK

In 2019 Asseco Poland conducted 64 R&D projects. The vast majority of them has been financed by the company's own resources, which confirms its high potential in developing and implementing innovations. In addition, it has implemented 4 projects with the use of the EU funds.

Currently, the largest R&D project is the construction of the Asseco Innovation Hub in Rzeszów. This emerging, modern R&D centre will be a place where teams conducting research and development in such innovative fields as artificial intelligence, telemedicine, electromobility, the Internet of Things or drones' control systems will be gathered. Their findings will be used to develop proprietary technologies and IT products for the power industry, telecommunications and media, healthcare, banking, agriculture, enterprises, public administration - said Grzegorz Warzocha, Director of EU Projects Office, Asseco Poland. Projects related to broadly defined IT security will also be developed there. The whole value of the project is over PLN 65 million net (gross is over PLN 80 million), of which over PLN 26 million will be provided by the Ministry of Investment and Development from the Intelligent Development Operational Programme. The implementation of this investment will translate into increased innovation and competitiveness of the whole region - he added.

According to the Rzeczpospolita daily, the innovativeness of Polish companies has been constantly growing. The Central Statistical Office's (GUS) research showed that in 2016-2018 over 26% of manufacturing companies and 21% of service providers carried out research and development activities.

Asseco Enterprise Banking Platform - Digi Trade has been recognized in the category of products using artificial intelligence. The solution is a response to the growing trend of using the OCR (Optical Character Recognition) technology in Trade Finance. With OCR support, the application enables, among other things, quick and effective recognition of invoices and commercial documents, and simplifies the decision making regarding granted limits.
It is estimated that currently the operating costs of banks in the Trade Finance area amount to USD 12-16 million. Digitization of processes may reduce them to USD 8-13 million in 3-4 years, said Marta Mróz-Sipiora, Product Manager, Asseco Poland. For this cost reduction to be possible, banks will need modern solutions, such as the Asseco Enterprise Banking Platform - Digi Trade, which allows, among others, for secure and fast electronic transfers of orders, interactive communication with bank employees and has individual document templates, she added.
The winners of "Trade Finance and Supply Chain Finance Awards 2020" are selected from among banks and service providers from 94 countries.