Fachowcy.pl Ventures S.A. (WSE:FAV) announced a private placement of 4,998,809 series J shares at PLN 0.10 per share for gross proceeds of PLN 499,880.9 on March 11, 2016. The shares will be issued at par. The transaction will be carried out without the pre-emptive rights of the existing shareholders.

The transaction has been approved by the supervisory board of the company. The company expects to conclude the agreements for subscription by March 31, 2016. Upon completion of the transaction, the share capital of the company will increase from PLN 10,914,357.60 to PLN 11,414,228.50.