Relationships with debuts

New listing of ONE SOLUTION S.A. on NewConnect

The company ONE SOLUTION S.A. was newly listed on NewConnect on 24 January 2022.

ONE SOLUTION SA is the 384^th company listed on NewConnect and the 4^th new listing on NewConnect in 2022. 

Key information

*at the reference price

Issuer’s history and business

The issuer was incorporated in November 2015. As of September 2019, the Company operates under the name ONE SOLUTION S.A.

The One Solution S.A. Group has been operating in the debt collection market since 2015. The Group deals with the acquisition and management of business debt, debt collection by order, and consumer debt. One Solution S.A. also provides financing to its subsidiary Pro Invest Finanse Sp. z o.o. which specialises in the acquisition and management of consumer debt (B2C). As at 30 September 2021, the Issuer’s Group held a debt portfolio with a nominal amount equal to PLN 44.8 million. The main segment of the Issuer’s Group’s activity is the acquisition of funds through amicable debt collection, i.e., soft debt collection through contacts with debtors with a view to repaying debts. This business accounted for 64% of the Issuer’s revenue in 2020 and 38% of the Issuer’s revenue in Q1-3 2021.

The second most significant segment of the Company’s activity is debt collection through litigation, most frequently in the event of failure of soft debt collection. The share of this business segment in total revenues was 31% in 2020 and 51% in Q1-3 2021.

Other activities of the Group include debt collection services by order, as well as consulting, debt sale and subletting.

The share capital of the Company amounts to PLN 1,560,000 and is divided into 15,600,000 series A – D shares with a nominal value of PLN 0.1 each, including:

• 2,000,000 series A ordinary bearer shares;
• 13,000,000 series B ordinary bearer shares;
• 100,000 series C ordinary bearer shares;
• 500,000 series D ordinary bearer shares.

Transactions in the Issuer’s shares

There were 2 transactions in the Issuer’s shares with a total value of PLN 45 thousand and the price in the transactions was PLN 0.6 per share in 2021. There were 3 transactions in the Issuer’s shares with a total value of PLN 2.3 million and the price in the transactions was PLN 0.6 per share in 2020.

Issuer’s selected consolidated financials:

*restated following amendments to the accounting policy

According to the Company’s accounting policy, revenue is equal to cash repayments and operating profit is equal to cash profit. Revenues from collection of own portfolios include the actual proceeds received from debt portfolios (recoveries) while their purchase price is presented under other expenses by kind. The level of liabilities results from the fact that the Company has other liabilities of PLN 2.4 million under current liabilities which relate to the collection of third-party debt obtained by the Company. According to the information presented in the information document, the decrease in revenues in 2021 is attributable primarily to a decrease in receipts in voluntary repayments of debtors (settlements) and in connection with COVID regulations which protect debtors from auctions and evictions from their places of residence, as well as protracted court proceedings. The Group is currently awaiting the receipt of recoveries in several auction proceedings. The Group expects increased receipts from such proceedings in Q4 2021 and Q1 2022.

Company shareholders

• Venta Invest Sp. z o.o. – 5,201,053 shares representing 33.34% of the share capital and total vote;
• Piotr Międlar – 3,824,479 shares representing 24.52% of the share capital and total vote;
• Aureus Sp. z o.o. – 1,999,000 shares representing 12.81% of the share capital and total vote;
• Bogusław Szwedo – 1,495,000 shares representing 9.58% of the share capital and total vote;
• Other  – 3,080,468 shares representing 19.75% of the share capital and total vote.

Reference price recommended for the first trading session

The Authorised Adviser and the Market Maker jointly recommended that the reference price on the first listing day should be PLN 0.6, equal to the price of the Company’s shares in transactions executed in 2020 and 2021.

Financial instruments newly listed on NewConnect:

• 2,000,000 series A ordinary bearer shares;
• 13,000,000 series B ordinary bearer shares;
• 100,000 series C ordinary bearer shares;
• 500,000 series D ordinary bearer shares.

The application covers all issued shares of the Company.