Decision regarding the discontinuation of operation of a subsidiary – City Interactive Spain, S.L. The Management Board of City Interactive S.A. with its seat in Warsaw
hereby informs that on November 13, 2009 it passed a resolution in the matter of discontinuation of operating activity of a subsidiary – City Interactive Spain, S.L. with its seat in Madrid.
Further decisions regarding City Interactive Spain, S.L. will be made by the Issuer’s Management Board upon detailed analysis of all possible options finance and legal wise.
The sales of the subsidiary, City Interactive Spain, S.L., do not cover the costs of its operation at the consolidated level and in the opinion of the Management Board further business continuation over the following year-quarters would prove unprofitable.
The Issuer’s Management Board intends to continue with sales in Spain through local distributors.
