07-10-2022 16:48:30 | Current | ESPI | 5/2022
Article 17 (1) MAR – confidential information.
Contents of the report:
The Management Board of Median Polska S.A. with its seat in Mysłowice _hereinafter: the Company_ informs that today it has entered into a letter of intent with FUMO Ltd. with its seat in Sofia _Bulgaria; hereafter: FUMO_, in which the Parties, seeing the benefits of establishing cooperation between, taking advantage of the synergy resulting from the experience and potential of both Parties, decided to undertake negotiations on the acquisition of FUMO shares by the Company. The basis for the decision is the conviction of the Management Boards of the Parties that after the acquisition of FUMO shares by the Company, a capital group with a strong position in the production and sale of nicotine-free liquds for e-cigarettes and liquids with CBD will be created. The tightening of cooperation will make it possible to take advantage of synergies resulting from, among other things, the use and mutual complementation of the Company’s and FUMO’s potential, optimization and increase of the scale of operations and reduction of operating costs.
The Company’s Management Board points out that FUMO is engaged in the production and sale of nicotine-free liquds for e-cigarettes and CBD liquids. Sales are conducted in the European Union, with France, the Netherlands, Germany and Belgium as the main destinations. FUMO also provides contract manufacturing services for the aforementioned products, including White Label and Private Label production. FUMO plans to implement a fully automatic production process there and also to develop private label within the European Union. FUMO also allows for the possibility of expanding its offerings to include disposable e-cigarette-style devices, including those with CBD.
- Piotr Zawadzki – President of the Board