mBank: Conclusion of the agreements with Orange Polska Spółka Akcyjna with its registered office in Warsaw.
mBank: Conclusion of the agreements with Orange Polska Spó|łka Akcyjna with its registered office in Warsaw.
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| Current Report | | |
| Drafted on: | | |
| Current report No | 20/2014 |
| Abbreviated issuer&rsquo|s name | mBank |
| Legal basis | Article 56 section 1 item 1 of the Act on Public Offering - classified information |
| Contents: | |
| The Management Board of mBank S.A. with its registered office in Warsaw (&ldquo|mBank&rdquo|) informs that it established cooperation with Orange Polska S.A. with its registered office in Warsaw (&ldquo|Orange&rdquo|) by concluding the cooperation agreement concerning financial services and the investment agreement concerning the option to acquire the organized portion of the bank&rsquo|s enterprise on 19 March 2014 (the &ldquo|Agreements&rdquo|). mBank and Orange hereinafter referred to as the Parties. mBank under the cooperation shall establish a branch (the &ldquo|Branch&rdquo|), which shall render banking services for clients acquired in cooperation with Orange and shall, together with Orange, establish a platform via which both financial and non-financial shall be rendered. The operation within the Branch will be conducted under the brand name made available by Orange Group under the license agreement concluded simultaneously with the Agreements. As a part of the cooperation, mBank shall be responsible for rendering banking services for the clients acquired through Orange. The duties of Orange shall include the clients acquisition and marketing. In the period from 1 January 2020 to 31 December 2023 Orange has the right to exercise option to acquire the organized part of the enterprise operated as a part of the Branch, which may be realized mainly through the acquisition of the organized part of the enterprise by the bank selected by Orange or bank established jointly by the Parties. The condition for exercising the option shall be the approval of the General Meeting of mBank and regulatory approvals required by the law. When implementing the cooperation agreement, Orange shall obtain the remuneration in the amount and under conditions of calculations provided for therein. The remuneration payable to Orange for the financial intermediation services with regard to banking products shall be based on commissions, and, with regard to non-banking products, the profit generated by mBank, defined in the cooperation agreement, shall be divided between the Parties.In the cases stipulated in the Agreements, in case of terminating or extinguishing the cooperation agreement, Orange shall be authorized to obtain additional remuneration, the amount of which shall depend on the value of portfolio of clients acquired by Orange, for whom mBank shall still render services. The term of cooperation between mBank and Orange under the cooperation agreement shall be until 31 December 2025 with the option to extend it for another 3 years. This agreement may be terminated earlier in the situations stipulated in it. |
SIGNATURES OF THE PERSONS REPRESENTING THE COMPANY
| President of the Management Board | Cezary Stypułkowski 19 March 2014 | |
Information on the entity:
| Abbreviated issuer&rsquo|s name: | mBank |
| Full issuer&rsquo|s name: | mBank SA |
| Sector according to Warsaw Stock Exchange (WSE) classification: | Banks (ban) |
| Address: | SENATORSKA 18, 00-950 WARSZAWA |
| Phone No: | 829-00-00 |
| Fax: | 829-00-33 |
| e-mail: | | |
| WWW | www.mbank.pl |
| NIP (Tax identification number): | 526-021-50-88 |
| Statistical identification number (REGON): | 001254524 |