Altus TFI agrees merger plan with Esaliens TFI

Altus TFI agreed on a merger plan with Esaliens TFI, according to which Altus TFI will receive the entire assets of Esaliens TFI in exchange for 11.5 million shares.  The share capital of Altus TFI will be increased by PLN 1.2 million through the issue of 7.7 million new series I ordinary shares and 3.8 million J series shares. All shares will be received by Esaliens TFI shareholders. The merger should be completed at the turn of October and November. Cost synergies, resulting from the merger, are estimated at PLN 10.25 million per year.