TSS Europe B.V. signed letter of intent to acquire Simple S.A. (WSE:SME) from CRON Sp. z o.o., Boguslaw Mitura and members of the management board for PLN 62.6 million on December 10, 2020. The purchase price is on a debt free cash free basis. Under the terms, TSS will pay PLN 13.01 for each shares. The proposed transaction is subject to due diligence, exclusivity period, regulatory approval, the possibility of concluding a mutually acceptable investment agreement by the investor with the company, majority shareholders and managing shareholders, obtaining approval for the transaction from the competent authorities (if applicable) and achieving a certain number of shares by TSS under the announced tender offer. Five sellers including CRON and Boguslaw mitura signed the letter of Intent to transfer 56.44% stake for PLN 35.3 million. TSS Europe will take steps to delist the Simple shares. As of January 13, 2021, the tender offer has been extended to February 25, 2021. Magdalena Nasilowska of Baker Mckenzie acted as legal advisor to Total Specific Solutions.

TSS Europe B.V. completed the acquisition of 84.1% stake in Simple S.A. (WSE:SME) from CRON Sp. z o.o., Boguslaw Mitura and members of the management board for PLN 52.7 million on February 25, 2021. As a result of the tender offer, transactions for the purchase of 4,048,525 shares were concluded. The Caller, being at the same time the entity purchasing the shares in the tender offer, will acquire all the shares subject to subscription in response to the tender offer on the transaction settlement date, i.e. March 1 2021.