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BEST Group active in the market for purchasing and sales of receivables

In the first half of 2015, the investment funds managed by BEST TFI invested over
PLN 64 million in portfolios of non-performing receivables, three times as much as in the corresponding period in 2014. The nominal value of the purchased cases amounted to PLN 431 million.

 

“As announced earlier, we desire to be one of the main beneficiaries of the increased supply of bank receivables in the Polish market. We participate in all the important tender procedures conducted by banks. This year we have already invested over PLN 64 million in portfolios of receivables, three times as much as in the first half of 2014. The purchases have been financed mainly with funds from public bond offerings”, said Krzysztof Borusowski, President of BEST. “We have an important prospectus, on the basis of which we can issue further bonds worth up to PLN 150 million. We are well prepared to be an active player in the market for the purchase and sale of receivables in the upcoming quarters”, he added.

 

 

In the first half of 2015, the BEST Group purchased portfolios of non-performing receivables through the BEST I NSFIZ and BEST II NSFIZ funds, in which we own 100% of the shares.
The total nominal value of the purchased portfolios amounts to over PLN 431 million, and they include about 33.6 thousand cases altogether, mainly retail receivables. The expenses incurred by the funds for the purchase of those portfolios amounted to over PLN 64 million.

 

In comparison, in the first half of 2014, the funds managed by BEST TFI purchased portfolios of receivables of a total nominal value of about PLN 150 million, including over 25 thousand cases, for over PLN 19 million.

 

The BEST Group will publish periodic information on the nominal value of the purchased portfolios of receivables and capital expenditures related to their purchase twice a year, by the fifteenth day of the month following the end of the first and second half of the year respectively. “This is a new element of our information policy. On the one hand, it is our response to the expectations of investors; on the other hand, it is the outcome of our efforts at making all our transactions and relationships with investors transparent and effective by implementing the best market standards. Consequently, investors will receive important information on our activity before the relevant semi-annual and annual reports are published. At the same time, such information will be made publicly available”, saidPresident Krzysztof Borusowski.

 

The full information on the financial results of the BEST Group in the first six months of this year will be presented in the consolidated periodic report for the first half of 2015.

 

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General information about BEST

 

BEST S.A. has been listed on the Warsaw Stock Exchange since 1997. The company specialises in the trading and management of non-performing receivables. The BEST Group actively invests in portfolios of receivables (mainly in the banking sector) with the use of securitisation funds as well as providing debt collection services by order and on behalf of banks, telecommunications and energy companies as well as other entities providing services on a mass scale.

 

BEST is also the sole shareholder of BEST TFI, which was granted a business licence by the Polish Financial Supervision Authority in 2008. The combination of expertise in debt collection and in the establishment and management of investment funds has enabled our company to place all the elements of its business model together within one capital group.

 

BEST TFI currently manages four funds, including three securitisation funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ, the assets of which include portfolios of receivables of a total nominal value of PLN 9 billion (as of the end of the first quarter of 2015), and the BEST Capital FIZAN fund of non-public assets.

 

For further information, please visit our website: www.best.com.pl, or contact us:

 

Krzysztof Woch

NBS Communications

Tel. 22 826 74 18 / Mob. 516 173 691

E-mail: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

Tel. 22 826 74 18 / Mob. 514 985 845

E-mail: mszczepaniak@nbs.com.pl

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